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Showing 18 of 18 results by Lumberjackpj
Re: Even the Politicians have secret investment in Bitcoin
Most politicians are liars who do their best to seem to be honest people who care about the nation. In fact, I have a feeling that people go into politics in order to get involved in corruption rather than do whatever is best for their country. That's why, on the one hand, they ban cryptocurrencies (so that ordinary people can't invest in crypto and remain ordinary and poor); on the other hand, they use the government money to get crypto for themselves and become even richer. I wish my parents had brought me up to be a politician 
Re: Who will benefit the most from bitcoin/cryptocurrency?
Mathematically, I guess, it's people who possess the largest share of BTC.
Otherwise, all the participants of the cryptomarket will benefit from bitcoin/cryptocurrency one way or the other. It's just that sometimes it might take some time and a lot of patience
Otherwise, all the participants of the cryptomarket will benefit from bitcoin/cryptocurrency one way or the other. It's just that sometimes it might take some time and a lot of patience
Although there are a few countries who uses bitcoins and other cryptocurrencies now, I cannot help but wonder if the world is truly ready for this digital currency? It will certainly be hard to replace all currencies in the world but it could happen in a decade or so, perhaps even less? Still the question is, is the world ready? I think if this happens it might be one of the biggest changes that will happen worldwide.
Yes, we can see that most people know what cryptocurrency is. They don't have the foggiest how it works, though. This is one of the reasons why people think BTC is a fake or a Ponzi scheme. Getting used to it and understanding the underlying idea as well as accepting it as a payment method will definitely take some time, but not too much.
I have just read a good article on security and I feel like it's worth sharing as the hacks keep happening over and over again. Read the basic principles and stay safe guys!
https://www.ccn.com/the-common-tactics-used-to-hack-a-cryptocurrency-exchange/
https://www.ccn.com/the-common-tactics-used-to-hack-a-cryptocurrency-exchange/
However obvious those things mentioned in the article might sound, I keep meeting people who log into phishing sites and do a lot of other stupid things, which makes them an easy prey for hackers so I do know this article will be useful for quite a while.
Thanks for sharing!
For software I really enjoy using Electrum. Its light weight and secured enough.
For hardware, Nano ledger is the way to go. Not too expensive and widely available. You can buy more than one to multiple your security.
For hardware, Nano ledger is the way to go. Not too expensive and widely available. You can buy more than one to multiple your security.
Couldn't agree more, Electrum and Nano Ledger S are my favorites, too.
But beware of a potential scam on Android market with Electrum wallet. Only use their official releases!
As regards Nano Ledger S, it's also important to buy it from an official reseller. Otherwise, you're running a risk of losing all your coins...
Happy hodling!
I dunno. I don't believe gloating is very nice and attractive here. Hey, we're all humans. We've got nervous system and stuff, so I'm afraid I can't agree with you here. Yes, I admit people should get educated and read and learn a lot before joining the cryptomarket, but I don't really share your feelings towards poor bastards. Nothing personal.
Re: Just got a little extra money and want to invest in crypto, should I?
I might be wrong, of course, but as far as i can understand, there's no other coin on the market that could be nearly as good as Btc. The good thing about Btc, unlike $ or any other fiat, you can get even a tiny fraction of it, so don't get too upset because you think you don't have a lot of money and cannot buy a Bitcoin. If you buy and hodl it, you can still earn some money on it.
I don't think Bitcoin could be the future of banking, but blockchain could and probably is. Blockchain is very useful in controlling transparency and preventing fraud, thus it is very useful and banks might really need it. Therefore, Bitcoin, being a part of blockchain, might also become a part of the banking system. I don't understand the way it's possible, anyway 
I don't think it's technically possible. For the moment, at least. The government might get some kind of a tool to do so, but as far as I understand, they don't have a way to do so directly.
Right. They cannot do it directly, but they can catch some people when they are trying to spend some fiat they had earned from the crypto: some governments have a threshold amount for spending in their country. As soon as the amount you are trying to spend legally reaches the threshold amount, they start demanding that you provide some proof of the source of money you are going to spend. This is one way to control it, but there might be lots of others.
Re: Which one is a better investment Bitcoin Or Ethereum,
This is a pretty tricky question in that it requires some background knowledge to get the idea of what the basis for making decision regarding investment is.
If you are interested in details, I recommend reading the following article from Forbes which might prove helpful in making your decision:
https://www.forbes.com/sites/bernardmarr/2018/02/05/what-is-the-difference-between-bitcoin-and-ethereum/#5833e61d7c70
For those who don't like reading a lot, here's a quote I find useful:
"... Ultimately, the long-term growth of any cryptocurrency (or indeed business) depends on useful applications being found for its assets.
If Bitcoin goes on to become a widely accepted form of currency, or the Ethereum network becomes an established standard for distributed computing, then the value of these assets is likely to continue to grow.
On the other hand, in technology, there is always something snapping at the heels of the front-runners. Newer and more efficient algorithms could replace either Bitcoin or Ethereum.
Additionally, both face the threat of government regulation. The value of many cryptocurrencies (including Bitcoin and Ethereum) have moved downwards since the start of the year, which has been attributed to threats of their trade being regulated by governments in China and Korea..."
Hopefully, that might help
If you are interested in details, I recommend reading the following article from Forbes which might prove helpful in making your decision:
https://www.forbes.com/sites/bernardmarr/2018/02/05/what-is-the-difference-between-bitcoin-and-ethereum/#5833e61d7c70
For those who don't like reading a lot, here's a quote I find useful:
"... Ultimately, the long-term growth of any cryptocurrency (or indeed business) depends on useful applications being found for its assets.
If Bitcoin goes on to become a widely accepted form of currency, or the Ethereum network becomes an established standard for distributed computing, then the value of these assets is likely to continue to grow.
On the other hand, in technology, there is always something snapping at the heels of the front-runners. Newer and more efficient algorithms could replace either Bitcoin or Ethereum.
Additionally, both face the threat of government regulation. The value of many cryptocurrencies (including Bitcoin and Ethereum) have moved downwards since the start of the year, which has been attributed to threats of their trade being regulated by governments in China and Korea..."
Hopefully, that might help
Thanks for sharing the article!
Based on what I've read, I can see that both Btc and Eth are almost equally worth our investments, but this was a little surprising "Newer and more efficient algorithms could replace either Bitcoin or Ethereum." It just never occurred to me. So, let's live and see who wins!
Although, I haven't seen any reasons why bitcoin should become obsolete so far, I'm aware of the fact that nothing can stop people from developing something new, more reliable and sophisticated than before. Should this happen, Btc could potentially be replaced by some more advanced crypto, unless Btc develops as well. I know it sounds ridiculous for some people, but do you remember what many photographers said about digital cameras? I do! They said digital cameras will never replace film because film is unique, it has some characteristics that were impossible to be reproduced by digital cameras, etc., etc... Whatever happened to film cameras? Does anybody use them anymore?
Think about it.
Think about it.
Bitcoin and blockchain have been involved in so many transactions that it is to be expected that the governments would want to control them. It hasn't been clear what it will finally look like, but I'm pretty sure the governments and lots of investors are interested in crypto regulation. So, I believe it's inevitable whether we like it or not.
I know some people who don't believe in cold wallets saying cold wallets are a scam. They have kept their coins in online wallets safely for quite a while, which only makes them believe they're right.
Despite that, I don't think that practice is 100% safe. Ledger Nano S helps me in that regard.
Stay safe!
Despite that, I don't think that practice is 100% safe. Ledger Nano S helps me in that regard.
Stay safe!
As an investor one thing you shouldn't engage yourself with is Predictions, if you want to be successfully in this Crypto ecosystem, you need to stay off any form of market prediction.
Here are few reasons why you shouldn't engaged with it (market/price prediction)
1. Predictions can be wrong
2. Listening to predictions makes you a speculator
3. Listening to predictions makes you an onlooker
4. Price prediction gives you nothing for today, only false hope
5. Listening to price prediction makes you think in one direction
Finally
Dont let speculation and assumption make you decide what to do.
Here are few reasons why you shouldn't engaged with it (market/price prediction)
1. Predictions can be wrong
2. Listening to predictions makes you a speculator
3. Listening to predictions makes you an onlooker
4. Price prediction gives you nothing for today, only false hope
5. Listening to price prediction makes you think in one direction
Finally
Dont let speculation and assumption make you decide what to do.
Thanks a lot for sharing this useful information!
I wish I'd known it before...
The answer is just simple, we all are cowards 
. Everyone will like to wake up one day and find out that Btc has reached 50,000. All these people are scared to invest hugely in bitcoin but want to become Crypto millionaire and Billionaire. You ask them why they are scared and they are like crypto is volatile and so on. This is the time to set the record straight make people realize what they are into. If you are scared then there is no need for you to join this amazing fraternity .
. Everyone will like to wake up one day and find out that Btc has reached 50,000. All these people are scared to invest hugely in bitcoin but want to become Crypto millionaire and Billionaire. You ask them why they are scared and they are like crypto is volatile and so on. This is the time to set the record straight make people realize what they are into. If you are scared then there is no need for you to join this amazing fraternity .In some way, you might be right. But what about the traditional securities investors? Are they cowards, too? Or do you believe they put all their eggs in the same basket? Doubt that
Consequently, I'd peg it as "prudence" rather than "cowardice."
On the other hand, what do you call a person who invests hugely in anything, including btc? Surely, you can call them courageous, but the other side of courage is very often the stupidity. As simple as that. Correct me if I'm wrong here.