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Showing 20 of 37 results by roller33
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Re: What about the lost BTC?
by
roller33
on 14/02/2024, 12:47:54 UTC
Knowing that BTC has a limit, and we're getting there soon, isn't it possible to have some compensation for those lost BTC?

Something like adding more BTC in an equivalent amount for those lost BTC, or something similar.
How do you determine which Coins are lost and which are not?

I have Addresses I have not used in MANY years.  I likely have a few Private Keys or Seeds hidden somewhere in the middle of some random note book.  These Coins are not lost.

Think about it.  Some body may have died a decade ago with a Seed hidden between two pages of a book.  Their relatives may decide to read that book in 2050.  Would that be lost Coins?

There are dormant Addresses since 2010 and the likes which have moved recently.  This is why we rather call it DORMANT Addresses and not Lost.

And then it does not make any sense.  Why would there be a compensation for the lost Bitcoin.  With Bitcoin you are responsible for your own actions.  You decided to not take care of the Bitcoin?  It is what it is.  The Coins are lost.  Move on.  I bet there are many who do not even remember they ever had Bitcoin back in 2009 on their computer.  Their Hard Disk is laying somewhere in the middle of a giant pile of trash and will probably never be retrieved ever.

Why would Miners earn more Bitcoin and why would we all have more Inflation for others mistake.

Lost Coins are just never going to be moved.  That is all.

It's true that in my opinion Bitcoins are simply not or have not been accessed again by their owners. Bitcoin holders or owners who lose their phrase actually only lose the private key used to access Bitcoin. Losing the private key does not mean losing Bitcoin. Bitcoins will remain in the wallet forever and cannot be taken by anyone or even lost.

Maybe the owner just forgot or hasn't found the private key yet.

Well, if you have a money that is locked forever, even if you know that it is there, but it can't be used or moved, than it can be considered lost, can't it? hahaha
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Re: What about the lost BTC?
by
roller33
on 12/02/2024, 12:19:05 UTC

Quote
Compensation, like, how? Do you mean rewarding those who have lost their bitcoin or adding those back to the supply?

I mean adding it back to the supply to be available for mining again.

Giving it back to the owners would be impossible, or if possible, it would be ridiculous, as each owner should take care of their BTC.
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Topic OP
What about the lost BTC?
by
roller33
on 12/02/2024, 12:07:20 UTC
I was reading about some cases of people who had many BTC at a time when it has low or no value at all, and didn't care about it, so they eventually lost their security phrases, or hard wallets and now it is lost probably forever.

I've read that the amount that is considered lost can be up to 5 million BTC. That is about 1/4 of the total amount available.

Knowing that BTC has a limit, and we're getting there soon, isn't it possible to have some compensation for those lost BTC?

Something like adding more BTC in an equivalent amount for those lost BTC, or something similar.

Would it be positive for the currency or could bring some caos?

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Re: Have you ever regretted selling your bitcoins ?
by
roller33
on 25/01/2024, 21:05:17 UTC
There are quite a lot of more important things in life than Bitcoin, if you sold your coins to handle something important in real life, then that is fine, if you sold it to have some good time with family and loved ones, that's also great. You basically just have to find the right balance between what you sell and what you hodl.

Remember that Bitcoin is money and spending it or exchanging it for fiat isn't a bad thing afterall. You cannot also hodl it forever so there is no point regretting anything, as you can always buy some more again if you desire to do so.

Thanks for this comment. I feel that sometimes I'm so afraid about buying and buying that I forget that we just own it to have more freedom and good moments with the ones we love.

I think that we know the first part, but forget frequently the second one
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Re: Best time to buy BTC NOW?
by
roller33
on 25/01/2024, 21:02:49 UTC
Mate asking other people when to buy or sell your bitcoin is not the best move it is your money and no one knows it nor yourself the most than yourself if you know you already can afford the current price then just buy it waiting too much might lead you to missing an opportunity  Wink

I'm not really asking when to buy. My point is that this might be a good time to buy more BTC.

I sure can benefit from some good advice, but I think you misunderstood my point here.

But thanks for sharing your opinion, bro!
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Re: If satoshi shows he has still controll of all of his coins what would happen ?
by
roller33
on 25/01/2024, 20:36:36 UTC
Lets assume that by mistake satoshi moves his coins. What would happen to bitcoin?
We don't know what will happen but there will be a chaos, for sure. As far as I know, it's estimated that he owns up to 1.1 million BTC. There are 19 million bitcoins in circulation. Satoshi owns more than 5% of bitcoins that are in circulation. As far as I know, no private or public company owns as much as Satoshi owns, no other individual and organization owns that much too. Now, imagine, tomorrow comes satoshi with one million bitcoins, what will happen? Panic, absolutely every bitcoin holder will be in panic, every business owner and employees will be in panic because it's the situation that no one has thought about and no one has a plan to deal with it. It's a shock.

But let me understand. Didn't he move any of his BTC?
Isn't he an active member of BTC?

It might sound silly, but I'm not really aware of Satoshi, if he's out there moving his coins.
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Topic OP
Best time to buy BTC NOW?
by
roller33
on 25/01/2024, 20:33:38 UTC
As you might know, the price of bitcoin reached its lower point since last month.

Should those who want to buy more do it now or do you believe we'll see the bitcoin price get down a little more?

Some here were talking about rumours of BTC being purchased from Saudi Arabia, but well, that's just a rumour.
But people tend to panic and sell, so this might be the best moment to buy as much btc as possible. What do you think?
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Re: Government vs Bitcoin
by
roller33
on 25/01/2024, 20:25:51 UTC
Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

The beauty of Bitcoin is this: It can't be controlled. As soon as we understand that the government doesn't exist to benefit the people, but rather they only think about themselves, your mind changes quicly.

My country is one of the most corrupts in the whole world, and they always say that everything they do is for the people, but we all know it is a lie.
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Re: Silly and scary questions, and what would you do if that were you.
by
roller33
on 25/01/2024, 20:23:21 UTC
Even if you gave them your keys, I doubt that they will keep you alive. Cause they already got what they want, so what's the point of keeping you alive? Once they can have access to your Bitcoin, it means that they'll have enough money to protect themselves even if they kill you. They're bad guys so how can you trust them to keep you alive after giving them your Bitcoin? Also, if other trusted family members know your Bitcoin, and you got killed by not giving it to the kidnappers, they can target your family as well. In this kind of situation where money involves, you can't be sure that you'll be safe even after giving them what they want.

The best thing to keep you and your Bitcoin safe is to keep it private. The bigger the amount, the more private you should be. No matter if it's a relative or a close friend.

Yeah, I think you brought some good points.

If they are evil, they'll kill you anyway. But in a hipotetical scenario where you could choose, maybe getting out alive would be a better option.
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Re: Silly and scary questions, and what would you do if that were you.
by
roller33
on 25/01/2024, 20:22:01 UTC
I became worried and found it difficult to answer after my friend asked me scary and ridiculous questions about Bitcoin ownership.
he asked. If friends, new acquaintances, or other people find out that you have a sizable amount of Bitcoin, and you don't tell them. Then you are kidnapped with several people covering their faces, with the aim of getting your wallet address with the risk that if you don't give it you will be killed.
And another reason, you have given your wallet address to members you trust, such as family members or your wife and children.

And I want to know, what are you going to do.
Aren't you going to give the bad guy your wallet address, and you let him get killed. However, your Bitcoins remain safe because you have given your wallet address to someone you trust.
Or you will give it away because you still want to live, and you don't have any more Bitcoins.

And it was just a casual conversation with a friend of mine who both owns Bitcoin, and I was just wondering what other people's answers to this dreaded question made me want to create a thread.

In a situation where I got kidnapped and there's only 2 options (give BTC or DIE) I'd probably give out.

I mean, as soon as you know the path, this can't be stolen. And I believe that no owner of several BTC would be so silly at a point where there's only BTC as his money.
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Topic OP
Buying houses with BTC
by
roller33
on 22/01/2024, 21:05:50 UTC
I have recently watched a video where the guy says that it is safer to buy a house with BTC (and other cryptocurrencies) than buying through one real estate agent. If I remember correctly, he says that it can be proven through a NFT.

That sounds cool, but what about all the regulations and laws of the government? I mean, won't they charge their share? Won't it be possible to get a fine for using crypto instead of FIAT?

I know there are already countries that are "crypto-friendly", but it seems to be interesting to prove your house purchase through an NFT.
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Merits 2 from 1 user
Re: Can Satoshi Nakamoto remove the 21 million BTC limit?
by
roller33
on 19/01/2024, 22:55:49 UTC
⭐ Merited by Xal0lex (2)
Well, the 21 million BTC is a fundamental aspect of Bitcoin's design. Changing this limit would require a consensus from the network participants, which I believe it is unlikely given the strong commitment to Bitcoin's original protocol.

It also would alter Bitcoin's scarcity value and economic model.

Dimon's comment might be speculative or aimed at provoking thought, but it's good to remember the decentralized nature of Bitcoin that makes such changes pretty hard to make.

I believe that making such a change could mean a huge decrease on BTC value and even the loss of trust on the coin.
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Blockchain could change our future even in elections?
by
roller33
on 18/01/2024, 19:36:12 UTC
In my country, elections are held with an electronic ballot box. Many people question the effectiveness and real security of this method, which although it seems promising, brings some insecurities, as no electronic system is proof of fraud or failure.

Could blockchain technology solve this problem definitively?

Would it be a good thing to apply this technology in elections and put people's future in the hands of blockchain?

I personally believe more in the security of the blockchain than a ballot box made using technology that is subject to alteration and fraud, controlled by the government itself.
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Merits 1 from 1 user
Topic OP
Wallet suggestions?
by
roller33
on 15/01/2024, 14:49:56 UTC
⭐ Merited by LFC_Bitcoin (1)
Hello friends!

I have been keeping my cryptocurrencies (I still don't have many, unfortunately) on the Binance exchange.

What type of virtual wallet do you use? And what are the best ways for me to keep my cryptocurrencies safe?

Sorry if it seems like a stupid question, but even though I reasonably understand crypto, I'm still taking my first steps with bitcoin.
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Re: One more filed smear campaign against Bitcoin
by
roller33
on 04/01/2024, 20:17:13 UTC
Haven't we learnt from the past? We are still doing panic selling which was witnessed as there were fuds created by some influencers about possible rejection of spot ETF and once this spread across we saw how people were on selling mode which literally brought down the value of Bitcoin to $40750. But this was a tight slap on face of those who tried bringing down Bitcoin as it survived this attempt as well and rising again.

When I as we I meant those who have panic sold their holding and it's sad people don't understand that just one event like spot ETF approval cannot define Bitcoin's future and people should stop believing in these smear campaigns because no one can predict much about crypto or Bitcoin.

Yeah, the panic selling whenever there's bad news is like a never-ending cycle. It's pretty wild how a bit of FUD can still send everyone into a sell-off. You'd think we'd have learned by now. Bitcoin always seems to bounce back though, doesn't it? Shows that these knee-jerk reactions to things like ETF rumors aren't always the best move. The crypto world's full of ups and downs; just gotta ride it out sometimes.
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Re: Why is bitcoin stability important?
by
roller33
on 04/01/2024, 03:58:59 UTC
I think promoting Bitcoin stability is partly a matter of avoiding the Alcoin crisis, major changes in cryptocurrency activity, high inflation and excessive volatility, and the Alcoin market. Volatility can increase uncertainty, hinder investment, hinder growth in Alcocent.
What is your opinion?

Totally get your point about Bitcoin stability being key, especially when the altcoin market feels like a rollercoaster. High inflation and crazy volatility in altcoins do add uncertainty, making it tough for investments and growth. But let's not forget, a little bit of volatility keeps things interesting in the crypto world. It's about striking the right balance – stable enough to trust, yet dynamic enough to stay ahead in the game.
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Re: Power Of Bitcoin
by
roller33
on 04/01/2024, 03:51:44 UTC
Cryptocurrency is slowly taking over the world and some hotels are now accepting Bitcoin as means of payment and Bulgaria as a country owns the highest Bitcoin as a country.
Around 2018 a friend of mine bought some unit of Bitcoin equivalent to $1,000 and also advise me to do same but I refused and was skeptical about it because I was of the notion that "what is really moving is coin of a currency" fast-forward 4 years later my friends share or unit of Bitcoin skyrocketed to $10,000 and I was at thr losing end just to be left with the thought of had I know.
When Bitcoin first broke out there was a man Laszlo who exchanged $10,000 worth of Bitcoin for two Papa John's Pizza from Jeremy but fast-forward to today Jeremy can purchase a million pack of pizza worth $10000 and still have more BTC left for him .
Nevertheless me falling short of the first opportunity of buying Bitcoin I'm still hoping of an opportunity to present it self so I can get the little bit of Bitcoin to my custody and I also advise both my friends and enemies to buy as much cryptocurrency they can because cryptocurrency is the currency of the future.

It's a classic case of Bitcoin hindsight, like passing up Apple stock in the '80s. But no need to beat yourself up over missed opportunities. We've all been there. Remember Laszlo's pizza? That's the crypto equivalent of finding a lost Van Gogh at a garage sale.

Your friend's Bitcoin success is like a digital gold rush. And while we might not have a crystal ball for Bitcoin's future, it's never too late to join in. So, while we're on the lookout for our next crypto opportunity, let's enjoy the journey – and maybe grab some pizza along the way!
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Re: Rollercoaster of emotions. How to deal with?
by
roller33
on 02/01/2024, 16:45:23 UTC
Hey everyone, I've been grappling with a question lately and would love to get your thoughts. How much of my monthly income should I realistically invest in Bitcoin, considering the emotional rollercoaster of the crypto market?

I understand the potential gains, but I'm also thinking about the stress of watching the market's frequent ups and downs. Seeing those price fluctuations can be a real thrill ride – exciting one moment and nerve-wracking the next. So, what's the sweet spot? How do I balance a smart investment percentage without getting overwhelmed by the market's volatility?

Would love to hear how you all manage this balance. I already have some amount invested, but way less than I'd like to have, but I have that fear of being put on risk more than I should.

You don't have to excessively invest in Bitcoin when you are only receiving a small salary and also have other expenses to cover. Usually, the expenses of any individual vary every month; someone might have more expenses and bills to pay in month "A," while in month "S," They may have fewer bills to pay. So, before making an investment, you need to create a budget and look at your expenses for that month and also consider saving some cash for emergency budgets.

 After you are done making provisions for the expenses and keeping some emergency funds, you can invest the rest in Bitcoin.

Take, for example, if you are earning $5k every month and you are still a batchelor with no too much responsibility, you can decide to invest $3k every month and keep $2k for your expenses through that month till another payment comes in. If by the next month you have a lot of expenses, like about $3k-$4k, you can also invest $1k for that month, and if by the following month you have a smaller budget that only requires you to spend $1k, that means you will invest $4k.

Continually, just keep adjusting to your budget and making sure you are not investing too hard in a way that you will have to sell your coins when the price is down. Emergencys do happen, and if you have invested all your money in Bitcoin when an emergency surfaces, that means you will have to take out a loan or sell some of your coins.

As an experienced Bitcoiner, you should be aware that Bitcoin is a volatile asset; the price must definitely go up and down, and you should be assured that if you don't sell when the price is low, you will definitely make a profit during the bull market. That's why it's not wise to invest more than your budget. If you invest within your limit, there will be no need for you to sell in a rush. Even if the price is falling, you will not worry too much about it because you are not in a haste to sell.

Yeah, I believe your answer is very useful. Thanks!
I'll try to have a more controlled expenses to check how much it will remain of my money.

I actually don't control that much my money, even having a good income compared to the average in my country. I receive, pay my bills, have some fun, invest some amount and that's it.

I'll make as a goal this year to have a better control of my expenses
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Re: Rollercoaster of emotions. How to deal with?
by
roller33
on 02/01/2024, 16:41:46 UTC
I already have some amount invested, but way less than I'd like to have, but I have that fear of being put on risk more than I should.
How it's even make sense to invest more when you're not even confident with the current money you've invested?


The thing is not that I'm not confident. I am confident and trust BTC to be my future more than any FIAT currency.

My question is more about how people deal with the big emotions of investing, or if they ever care about it.

Because after all, it is all about making more money and not losing it all, isn't it?
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Topic OP
Rollercoaster of emotions. How to deal with?
by
roller33
on 02/01/2024, 05:12:58 UTC
Hey everyone, I've been grappling with a question lately and would love to get your thoughts. How much of my monthly income should I realistically invest in Bitcoin, considering the emotional rollercoaster of the crypto market?

I understand the potential gains, but I'm also thinking about the stress of watching the market's frequent ups and downs. Seeing those price fluctuations can be a real thrill ride – exciting one moment and nerve-wracking the next. So, what's the sweet spot? How do I balance a smart investment percentage without getting overwhelmed by the market's volatility?

Would love to hear how you all manage this balance. I already have some amount invested, but way less than I'd like to have, but I have that fear of being put on risk more than I should.