This might upset some of the folks in the sub but I've heard this song and dance for at least 7 years. Every time an altcoin is developed that does something interesting, there's a maximalist that says well theoretically Bitcoin could also do that...

I think the point is that right now and most likely into the near future at least, Bitcoin does not do this stuff via side chain and will not do this stuff via side chain.

So you can claim that people who are interested in altcoins are only chasing huge multiples and don't understand the technology and are just a bunch of losers because they aren't Bitcoin maximalists, but I think it's a lot more nuanced than that and to accept that as a narrative is very ignorant in my opinion or at least extremely lazy.

 Think of it like this, you’ve been given the gift of entering the market between halving cycles. The next bitcoin halving is not until 2024. This is the accumulation phase of the cycle, every dollar that you invest in crypto today will pay off enormous dividends during the next cycle.
 Invest today, live tomorrow.

I bought Bitcoin because Bitcoin enables individual humans to have private property that is truly under their control in this highly information-based, centralized, and regulated society, and this private property can also be stored and transferred very conveniently.

I guess a good analogy would be stocks. A company sells all the shares at the IPO and then other folks continue to buy and sell without more shares being created.Yes, a company CAN issue more shares in the future which dilutes the value of the original shares which is why a finite supply in BTC is a good thing.
Fiat is the perfect example of why creating more shares/dollars/currency is a bad thing as it continues to dilute the value. A dollar in 1900 could buy a lot more than a dollar today.

the only people "hoarding" aka consolidating wealth, are the same people who ruined your current economy. Now your totally fine giving a few rich people control over the crypto market because reasons???
bitcoin should be called what it is. CentralBankCoin.
Weird how the dip started just as wells fargo and goldman sachs announced they were investing in crypto.

Even if the bill doesn’t pass, this still makes me happy seeing crypto even being considered for legal tender status. I’m excited for this kind of exposure!

It is my guess that China is only closing the mines that the government doesn't control. The easy money and control is too tempting for any forward looking government. All they have done is ban its use from their own population and will continue to reap the benefits and profits for the powers in charge. There will still be mining either in China proper or by mines controlled by China elsewhere.

Sorry for the noob question but if the mining goes on outside of China, isn't that a good thing? At the very least, there is the semblance of law and business rights. Also, if China bans mining, wouldn't that increase the scarcity?
Again, not a veteran. Just wondering why the negative sentiment?

If you're holding you shouldn't use a stop loss. Too much volatility and you'll get stopped out, usually right before a run up. Stop losses just ensure the market makers know exactly where they need to drop the price to take your sats from you. Don't give them up so easily. Only you care about your future, they sure as hell don't.

At times I think it’s simpler for most people.. the “normies” as they say.High volatility often can equate to high profit..
Look at the lottery system for instance. Everyone KNOWS there’s an astonishingly low chance of winning the pot - yet week after week, month after month, the country pours MILLIONS of dollars into it. Why? Well certainly for more than a million reasons.. but often I think it can be explained by a simple concept:
Sure, they all buy the ticket, gambling, hoping to ‘win it big’… but more often it’s this… where else can you (for a few dollars) buy the feeling of hope?
That piece of paper, that token or coin, that is a symbolic purchase of HOPE. And for a nominal fee, they can sit back and enjoy the excitement that comes with “I now have a chance”, a chance to escape from worries and financial troubles. A chance to be free.

The best result is that after about ten years, gold will plummet for some reason, regain its industrial status, completely lose its hard currency status (including all precious metals), and fiat currencies will depreciate due to the economic crisis, and only virtual currencies will become Bitcoin is the dominant currency in the hard currency that can allow all mankind to reach a consensus.

I am not entirely convinced that BTC would be a global currency of exchange, it would certainly become a store of value. Alt-coins, with smart contract programmability would be more likely to be the unit of exchange, for things like loans, renting out apartments, or payroll for work. Alt-coins just has the flexibility to dynamically exchange value, where Bitcoin has the static capability to store a value.

Because Bitcoin has value because it is valuable as a form of currency. Bitcoin has the mathematical characteristics of currency (persistence, portability, interchangeability, scarcity, divisibility, and easy identification) rather than relying on physical characteristics (such as gold and silver) or the trust of the central authority ( Such as legal tender).

Noob here. Even if some places accept Bitcoin, the price is still quoted in dollars? Bitcoin's value per say is in US dollars, a fiat currency subject to inflation. If we remove the value based on the dollar, then is the price of Bitcoin just based on supply and demand?

I also hear people like Cathie Woods and analysts at JP Morgan say Bitcoin will reach $500k or $140k respectively. I understand for stocks you can look at financial statements and make valuation models to calculate target prices, but for Bitcoin, is the value based on the scalability of network?

Because they don't have Bitcoin in their hands. I don't want to exchange my wealth for Bitcoin. If you publish promising information, it may lead to currency appreciation. If it really rises, it needs to be bought at a higher price. What does it mean? His wealth was plundered!

From a technical point of view, it's okay to explicitly ban bitcoin transactions in a country. Bitcoin transactions do not depend on a centralized state, but on all the nodes of the Internet. The state can be regarded as the central authority and can stop its own transactions, but cannot stop other nodes from continuing to operate. From the perspective of interests: according to the attack of 51% computing power, it can hinder the correctness of the receiving data of other nodes. However, the cost of use is too large. I have asked the people in the mine, and based on the current block size, it would cost billions or even billions of dollars to tamper with the data. The cost and purpose are not proportional. And digital currency cannot be banned.

Or even much sooner, when there's only 2 or 10 left to mine?

I guess because by that point the price of electricity to mine will become so huge no one will want to, and the psychological deterrent of buying insanely expensive coins. I can see it crashing because people will think "well there's no more supply, and those that have it won't relinquish it." I don't know there's an economic term for it, something like fatigue.

But also like... Right now we're still in the early stages, and Bitcoin isn't really being used as a currency. But people are buying right now because they think that, one day in the future, it will be used as currency in every day life. But everyone is just a hodler because of game theory and the price going into the millions in the future, then... It'll never be used as currency, because nobody will ever ever want to spend their sats. And so it's like... If it's never actually used as currency, and everybody realizes that everybody else is just hodling, then that's when it crashes. And all it will take is some giant that holds thousands of Bitcoin to sell out before everyone else does, and it'll crash and become worthless. Because right now crashes are fine because everyone still believes in it (like any currency, it only has value because people believe it does). Like, does that make sense?

People don't use gold in every day transactions, they haven't for hundreds of years basically. Fiat was developed using gold against it bc gold wasn't easily transportable, etc etc. If Bitcoin is digital gold, except with the benefit being transportable and divisible, then... Why would anyone ever spend it, if it's always going to be worth more in the future?

Or maybe the price will stabilize once the last coin is mined, 100 years from now, and then that's when it will finally be used as currency.

I think Bitcoin’s advantage is much higher than other altcoins. It has the largest network effect, a very high degree of recognition, and a relatively complete technology. In short, the altcoin phenomenon is the product of greed and bounded rationality. They deserve nothing but scorn, and anyone who wishes cryptocurrencies to improve the world should avoid them entirely.

Many people don't really care about whether Bitcoin is a scam. They just want to get a sense of "I'm right" after expressing their opinions on something. They are poor people, a bunch of poor people who talk endlessly but take care of him as soon as they get the money. Sometimes I feel that I have seen a lot in the currency circle, but I am often ashamed, because occasionally I am also one of those poor people. So I always remind myself that I can be constrained by my own insights, but I cannot stop reflecting and learning. Maybe I know a lot about the currency circle, but I'm sure I know very little.

In terms of value storage, I think Bitcoin has more advantages. As a long-term investment, Bitcoin is more valuable than legal currency. Legal currency may continue to depreciate, but Bitcoin will not. The number is getting smaller and smaller, and more people will choose to hold Bitcoin to maintain their value instead of fiat currency.