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Showing 20 of 628 results by Psalms23
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Board Bitcoin Discussion
Re: biggest criticism of Bitcoin
by
Psalms23
on 02/07/2024, 13:47:38 UTC
I think one of the biggest criticisms of Bitcoin is its scalability issue. Bitcoin's blockchain can only handle a limited number of transactions per second, which can lead to high fees and slower transaction times during peak usage.

This scalability problem makes it less practical for everyday transactions compared to traditional payment systems like Visa or newer blockchain technologies with higher throughput.
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Board Bitcoin Discussion
Re: Interesting BTC move.
by
Psalms23
on 02/07/2024, 13:44:40 UTC
Yeah, i think it sounds like the classic shakeout before the pump.  Market makers often play these games to shake out weak hands. Hitting that local bottom around 60k could indeed mean less downside risk for now. But you're right, we always gotta manage risk and be ready for anything. BTC to 75k+ would be sweet, but it never hurts to be cautious and have a plan for those dips, in case, just saying.






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Board Altcoin Discussion
Re: Will another meme narrative do well besides cats and dogs?
by
Psalms23
on 02/07/2024, 01:46:18 UTC
yeah, memecoins have always been about the narrative and hype. A rat and squirrel hybrid like $SCRAT definitely has the potential to capture the imagination of meme lovers, especially with its quirky theme. Given its current market cap and liquidity, it seems to have gained some traction.

The success of $SCRAT will largely depend on community engagement, marketing, and the ability to keep the hype going. If it can generate enough buzz and get some social media influencers on board, it could drive the meme market. However, the meme coin space is highly unpredictable and often driven by short-term trends, so while $SCRAT might create some new fun, it's also important to stay cautious and not get swept up in the hype.
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Board Altcoin Discussion
Re: What is The Future of Telegram Mining Tokens like NotCoin
by
Psalms23
on 01/07/2024, 14:23:02 UTC
Well, the future of Telegram mining tokens like NotCoin looks interesting but comes with some uncertainties. If Telegram integrates these tokens well into its platform, they could see wide adoption thanks to Telegram's huge user base. These tokens could offer decentralized and private transactions, which many people want.

However, I think there will be challenges. Telegram has had regulatory issues before, especially with its TON project, which got halted by the SEC. So, any new token efforts will need to carefully navigate these legal landscapes to avoid similar problems. Plus, the crypto market is very competitive, with many established players. NotCoin will need to offer something unique to stand out.
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Board Altcoin Discussion
Re: Could TON be the new Solana?
by
Psalms23
on 01/07/2024, 14:17:47 UTC
For me TON and Solana are both major players in the blockchain world, but they each have their own strengths and challenges. TON was created by Telegram and aims for high transaction speeds and low costs, using multiple blockchains to handle large volumes of transactions. Solana, on the other hand, is known for its unique Proof of History system, allowing it to process over 65,000 transactions per second with low fees.

solana has a well-established ecosystem with many decentralized applications, DeFi projects, and NFTs, making it popular among developers and users. TON, despite its strong technology, faced delays and legal issues, which slowed its initial growth. However, with Telegram's large user base, TON still has potential if it can regain momentum.

I think both networks aim to provide fast and cheap transactions, but Solana currently has the edge due to its early adoption and active community. Whether TON can become as successful as Solana will depend on its ability to overcome past challenges and attract users and developers.
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Board Bitcoin Discussion
Re: Milton Friedman predicts the inception of Bitcoin
by
Psalms23
on 01/07/2024, 14:14:06 UTC
Yes, Milton Friedman was indeed a significant figure in the world of economics, advocating for free-market capitalism and minimal government interference. He predicted the rise of digital currencies back in the 1990s, saying, "The one thing that's missing, but that will soon be developed, is a reliable e-cash, a method whereby on the internet you can transfer funds from A to B without A knowing B or B knowing A".

Just my opinion, Satoshi Nakamoto, the pseudonymous creator of Bitcoin, might have been inspired by Friedman's ideas. Bitcoin was designed as a decentralized digital currency to operate outside the control of governments and central banks, aligning with Friedman's vision of a free market. Friedman's thoughts on e-cash and his advocacy for a competitive, decentralized financial system likely influenced the creation of Bitcoin. Just my opinioin though.
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Board Bitcoin Discussion
Re: Bolivia lifts 10-year old ban on Bitcoin
by
Psalms23
on 01/07/2024, 14:11:31 UTC
I think Bolivia lifting its 10-year ban on Bitcoin is pretty significant. The Central Bank of Bolivia decided to reverse the ban, allowing Bitcoin and other cryptocurrencies to be used legally in the country​ (Crypto Briefing)​​ (Coinspeaker)​. This move could open up new opportunities for financial inclusion and innovation within Bolivia. Plus, it reflects a broader trend of countries becoming more open to digital currencies as they gain global traction.






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Board Altcoin Discussion
Re: Altcoin profit - when is being greedy too greedy?
by
Psalms23
on 30/06/2024, 12:41:46 UTC
For me, when it comes to altcoin profits, being greedy can cross the line when you let FOMO (fear of missing out) drive your decisions instead of sticking to a strategy. It's crucial to set realistic profit targets and know when to take profits. If you keep holding out for that extra bit of gain, you might miss the chance to secure your earnings and risk the value dropping. Greed becomes too much when it blinds you to market risks and stops you from making rational decisions. I think it's better to take steady, smaller profits than to risk losing everything by aiming for the moon every time.
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Board Bitcoin Discussion
Re: How do bitcoin addrss be too long?
by
Psalms23
on 30/06/2024, 12:34:39 UTC
I think Bitcoin addresses are long because they need to be unique and secure. They’re made up of a string of letters and numbers, usually between 26 to 35 characters. This length helps ensure there are enough possible addresses to go around and makes it really tough for anyone to guess or hack them. It's like having a super long, complicated password for your digital wallet.
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Board Bitcoin Discussion
Re: Will Bitcoin exit forever?
by
Psalms23
on 30/06/2024, 12:28:50 UTC
Alright, so here’s my scoop on Bitcoin. It's designed to be a decentralized and lasting store of value, but its future ain't set in stone. For it to keep going strong, people gotta keep wanting and using it, the network of computers verifying transactions has to keep working, and we can't find any major technical issues that mess things up.

On the other side, there are risks. Governments might crack down on it, other cryptocurrencies or tech might take over, security threats could arise, or folks might just lose interest. So, while Bitcoin's got potential, it's still a bit of a gamble.
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Board Bitcoin Discussion
Re: Do you also panic when bitcoin price falls more than 10-20% in a day ?
by
Psalms23
on 29/06/2024, 00:44:40 UTC
 I'd stay chill during those 10-20% drops. I have seen enough to know it's part of the game. If I have enough capital, I'd be even happy to invest more. When prices dip, it’s a chance to buy more if you believe in Bitcoin long-term. To keep your cool, remember why you invested in the first place, if you believe in Bitcoin’s future, hold on to that belief. Think long-term and focus on the big picture, not the daily changes. Only invest money you can afford to lose, so you’re not stressed when prices drop. Stay informed about what’s happening in the market to avoid surprises. Lastly, have a plan with set buy and sell points and stick to them. It’s a wild ride, but keeping calm and focused helps.
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Board Bitcoin Discussion
Re: Bitcoin or Gold
by
Psalms23
on 29/06/2024, 00:41:55 UTC
Bitcoin is still very young. How many people truly understand what Bitcoin is? Probably even 80% of the people on this forum can't understand Bitcoin, and some have been in the space for years. Bitcoin is a complete paradigm shift, and it will take time for people to grasp what it is. As I mentioned earlier, harder forms of money always win everyone wants hard money. no one wants to lose. Eventually, everyone will own Bitcoin and will acquire it at the price they deserve.

I totally get what you're saying. Bitcoin's still a baby in the grand scheme of things. It's not easy to wrap your head around, especially with all the tech jargon. Even folks who've been around for a while can get tripped up by it. It's like this big shift in how we think about money moving from something physical to something digital and decentralized.

And you're spot on about hard money. People want something that holds value, and Bitcoin's got that potential with its fixed supply. It'll take time, but as people start to understand and trust it more, they'll jump on board. Everyone wants in on the action, and yeah, they'll get it at the price they deserve based on when they decide to dive in.
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Board Bitcoin Discussion
Merits 1 from 1 user
Re: Bitcoin or Gold
by
Psalms23
on 29/06/2024, 00:40:13 UTC
⭐ Merited by JayJuanGee (1)
Guys I dont know what to do, should I invest in Gold or Bitcoin. Gold is more stable I know. But the bitcoin development is crazyy, imagine if you have bought it before 20 years... Grin

Tough call, but I'd prob lean towards Bitcoin. It's digital, easy to trade, and not tied to any one country's economy. Gold's cool too—shiny and has been valuable forever, but it's heavy and a pain to store. Plus, Bitcoin's got that future vibe, you know.

Bitcoin's got a fixed supply, so there's no printing more of it, unlike fiat money. It's also super accessible—you can send it anywhere in the world in minutes. Plus, it's becoming more accepted for buying stuff. Gold, on the other hand, is great for holding value over the long term and is a solid hedge against inflation, but it's not as easy to use for everyday transactions. Also, Bitcoin's tech keeps evolving, making it more secure and useful, while gold just kinda sits there looking pretty.
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Board Bitcoin Discussion
Re: What ruined your chances of investing in Bitcoin earlier?
by
Psalms23
on 27/06/2024, 12:57:23 UTC
Alright, so picture this: it's 2010, and I'm chillin' at a coffee shop, scrollin' through some tech forums. I stumble upon this weird thing called Bitcoin. Folks are sayin' it's digital money, decentralized, all that jazz. I'm intrigued, but a bit skeptical.

Then, outta nowhere, my old college buddy texts me, "Hey, wanna invest in this new coffee shop franchise? It's the next big thing!" I'm like, "Sure, why not?" So, I take all my spare cash and dump it into this coffee shop idea, thinking I'd make bank.

Fast forward a couple years, the coffee shop goes bust. Bad location, terrible management, you name it, it went wrong. Meanwhile, Bitcoin's price starts creeping up, and I'm sittin' there with my fancy lattes and zero profits.

By the time I realize my mistake, Bitcoin's already skyrocketing, and I'm kickin' myself for not putting at least a few bucks into it back when I first heard about it. Now, every time I see a Bitcoin news headline, I can't help but think about that coffee shop and what could've been. Classic case of bad timing and missed opportunities!

At least for now, I tried to stick to crpyto whatever happens.
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Board Bitcoin Discussion
Re: BITCOIN FUTURE IN DOUBT
by
Psalms23
on 27/06/2024, 12:53:30 UTC
I get the worry, but Bitcoin ain't goin' anywhere anytime soon. Sure, some investors are eyeing Ethereum, especially with that ETF buzz and its potential to spike in value. But Bitcoin’s still the OG, the gold standard of crypto. It's the most recognized, trusted, and has that store-of-value appeal.

Ethereum's got its own strengths, especially with smart contracts and DeFi, but Bitcoin's stability and security keep it solid. Folks might diversify, but Bitcoin's role as digital gold isn't just gonna disappear. I thnk theres no need to panic just yet.
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Board Bitcoin Discussion
Re: Why Bitcoin and not any Altcoin?
by
Psalms23
on 26/06/2024, 11:55:43 UTC
My top pro-Bitcoin argument would be about decentralization and security. Bitcoin's decentralized nature means no single entity controls it, which makes it resistant to censorship and interference. Plus, its proof-of-work system, while energy-intensive, is highly secure and has proven its robustness over the years. This makes Bitcoin a trustworthy store of value, especially in uncertain economic times.






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Board Altcoin Discussion
Re: The State of Layer2 Solutions in Today’s Crypto Market
by
Psalms23
on 26/06/2024, 11:46:38 UTC
yeah, the L2 scene is buzzing. It's like everyone's racing to fix Ethereum's issues. Tons of projects cropping up, making it super competitive. Blast is like the new kid on the block. Pulling in a billion in TVL so quick is no joke, especially with the market down. Those airdrops are a smart move to grab attention.

But still for me, launching now is a double-edged sword. If Blast's tech is rock solid, it might shine through the gloom. But people are super cautious with their cash right now, so it’s a tough crowd to impress. With heavyweights like Optimism and Arbitrum already in the game, Blast has to bring something seriously game-changing.
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Board Altcoin Discussion
Re: is it still risky to Invest into Altcoin now?
by
Psalms23
on 26/06/2024, 11:42:21 UTC
Yeah, I fell you. The crypto market's a wild ride right now, especially with altcoins poppin' off like fireworks. Altcoins are seeing crazy surges, but they're also dropping like hot potatoes shortly after. Bitcoin’s been steady, no major dumps recently, which kinda makes it the "safer" bet.

Altcoins are great for quick cash if you're super active and on top of the market. But for long-term investments? for me, it's a bit too shaky for my taste right now. If you wanna play it safe, stick to Bitcoin or just do quick trades with altcoins.
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Board Bitcoin Discussion
Re: What about the lost BTC?
by
Psalms23
on 25/06/2024, 14:46:20 UTC
We konw that people have lost a ton of Bitcoin, maybe up to 5 million BTC, which is about a quarter of the total supply. Since Bitcoin has a fixed limit of 21 million coins, some folks think we should add more to make up for the lost ones. But messing with Bitcoin's supply could really shake things up. Its value comes from being scarce, and changing that could freak out investors. Plus, getting everyone to agree on this would be a nightmare and could set a bad precedent. So, while it sucks that so much Bitcoin is lost, keeping the rules as they are is probably best for stability.
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Board Bitcoin Discussion
Re: For me, Bitcoin is just a financial Game.
by
Psalms23
on 25/06/2024, 14:40:53 UTC
Okay, Bitcoin is unique and complex, but at its core, it's still money like cash or gold. Its wild price swings are super exciting and constantly mess with our heads. That's why I think of Bitcoin as a financial game—it's always changing, always surprising.