Crypto Blowing Up

Soundofsilence · #**287** 01-13-2021

Quote:

Originally Posted by quest

I don't mean there is possible to copy coin of BTC
What I mean is you can make another BTC app.. BTC1, BTC2 and so on. And you can trade on it, buy/sell, mine and so on..

So if you can do the same with any other crypto currency, where is the limitation then?

Only limited resource may retain value

FIAT currencies are limited and protected by law. You can't make another dollarV2 and let it circulate into the market. You can't mine another type gold also. That's why FIAT/Gold retains stable value you can rely on.

Understood.

Soundofsilence · #**288** 01-14-2021

Quote:

Originally Posted by agent006140

Does Bitcoin a medium of exchange,where can I use bitcoin?
is it a store of value?how so?

Your search ends here.

https://bitcoin.org/

Soundofsilence · #**289** 01-14-2021

Quote:

Originally Posted by agent006140

Does Bitcoin a medium of exchange,where can I use bitcoin?
is it a store of value?how so?

1. Yes
2. Where people/company/store/e-commerce or anyone accepts bitcoin as a mode of payment.
3. No

Then what is bitcoin ?

Watch "The rise and rise of bitcoin" documentary for basic understanding.

Personal advice : by reading about bitcoin you won't be able to understand what it is clearly but if you watch high quality content about it like the above documentary then you'll begin to develop basic infrastructure in the mind which will be useful to understand the deeper concepts of bitcoin after further reading.

Start with videos and end with reading and unless you're able to explain to newbie what bitcoin is, simply don't invest money.

Not because it's not safe but because you may get poor quality sleep wondering what will happen to my money.

Once you understand what bitcoin is, you'll feel safer then any financial institution and have sound sleep so remember golden rule "What is bitcoin must be absolutely clear before spending savings on bitcoin".

quest · #**290** 01-14-2021

Most of documentary videos on youtube is propaganda with a lot of misleading information and myths, done by people who are already invested to BTC (miners, speculators, cryptocurrency exchange owners). If you watch it - don't take everything as a fact, be critical

rsot · #**291** 01-14-2021

Quote:

Originally Posted by quest

Most of documentary videos on youtube is propaganda with a lot of misleading information and myths, done by people who are already invested to BTC (miners, speculators, cryptocurrency exchange owners). If you watch it - don't take everything as a fact, be critical

No blind faith, agreed

Soundofsilence · #**292** 01-14-2021

Quote:

Originally Posted by Soundofsilence

Your search ends here.

https://bitcoin.org/

Hence this is the most accurate source to learn the facts with almost zero error.

Soundofsilence · #**293** 01-14-2021

Quote:

Originally Posted by quest

Most of documentary videos on youtube is propaganda with a lot of misleading information and myths, done by people who are already invested to BTC (miners, speculators, cryptocurrency exchange owners). If you watch it - don't take everything as a fact, be critical

So much BS is there in youtube about this topic.

Agree.

**SaiJin** · #**294** 01-16-2021

any of you use Binance or Localbitcoins?

slokor · #**295** 01-16-2021

I used Binance for awhile.
Solid platform.

Soundofsilence · #**296** 01-16-2021

Quote:

Originally Posted by SaiJin

any of you use Binance or Localbitcoins?

Never used Binance but I used Localbitcoins few times and got smooth transactions.

I take a little more loss but only choose the trading partner who has highest number of feedbacks , number of trades and also highest amount of BTC exchanged so they don't risk their account by trying to commit fraud by scamming me.

Anyway, I've done some very interesting testing/research to understand how protected we are while trading on paxful or Localbitcoins. For some reasons I can't share the screen shots here so if someone wants to know, please pm me and I'll be happy so share it.

Btw, I had many smooth transactions on paxful but nowadays I moved to trezor hardware wallet and I've my own BTC exchanger who has private automated website with better rates. The benefit is, they're trustworthy also I can directly send BTC from hardware wallet to them and I get direct funds in any bank account or any type of gift cards as well.

Soundofsilence · #**297** 01-16-2021

Those who doesn't know the hidden feature of trezor is,

they've tie up with a website and we can purchase any fresh gift cards for any country any brand directly using the BTC available in our trezor BTC hardware wallet. No need to reachout to any exchanger.

**SaiJin** · #**298** 01-19-2021

is it just me or the 2nd verification BInance they want a Selfie of you?

**SaiJin** · #**299** 01-21-2021

Looks like BTC is plunging below 31K after the announcement from Yenen.
I wonder if this is a manipulation by whales to trick people to selling their coins

JamesNorth101 · #**300** 01-21-2021

Looks like people are dumping what they have

I wonder what the big whales will end up doing. I sold most my holdings at £25,000 a few weeks ago and was gutted when I saw the price go back towards the £30k mark. Pretty glad I did it now though but easily could have left a lot of earnings on the table.

I shall personally buy back in using the same funds I traded in for fiat if the prices dip towards the £15k mark which I expect they may well do.

**SaiJin** · #**301** 01-21-2021

I kinda doubt it'll drop below 20K, James...

prediction is 100k by april ish and 220 towards end of year.

The institutions are buying a LOT of BTC this year and they are HODL

slokor · #**302** 01-21-2021

At least this round we don't have the doom and gloom dummies predicting it dropping to sub $1k levels as we did in the past.

JamesNorth101 · #**303** 01-22-2021

Quote:

Originally Posted by SaiJin

I kinda doubt it'll drop below 20K, James...

prediction is 100k by april ish and 220 towards end of year.

The institutions are buying a LOT of BTC this year and they are HODL

Certainly possibly won’t but ultimately the big companies holding it will eventually look to sell because while BTC does have value it still can’t really be used in the real world the way the dollar can and as the dollar stabilises which I expect it will over the next few weeks and as the stock market follows the stabilisation I wouldn’t be surprised if people started cashing out their bitcoin and putting it into high yield stocks instead

Time will tell

I would be absolutely astonished if it hit 100K by April though...

ebaywanton · #**304** 01-22-2021

If it hits 100k by April, i will personally give all my stealth accounts to you for free lol

50k at the most by April, and even that's a push, especially with the Biden government who want to tackle cryptos

quest · #**305** 01-22-2021

why it should hit 100K? is there any reason for such increase?

JamesNorth101 · #**306** 01-22-2021

If it were to continue on the trajectory that it’s had over the last couple of months it would quite easily hit that amount however that just historically isn’t the way bitcoin tends to work that’s not to say it won’t eventually hit that number, but I expect it will go through two or three more cycles of up and down before it does

agent006140 · #**307** 01-22-2021

Quote:

Originally Posted by quest

why it should hit 100K? is there any reason for such increase?

the US dollars is expected to lose 5-10% of its value in next 2 years ,mostly due to the huge deficit ,borrowing trilions for the stimulus programs

quest · #**308** 01-22-2021

Quote:

Originally Posted by agent006140

the US dollars is expected to lose 5-10% of its value in next 2 years ,mostly due to the huge deficit ,borrowing trilions for the stimulus programs

that's not reasonable enough, there is plenty other options where you can convert dollars to retain value..