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telling ppl to not buy alts and memes cuz u picked the wrong ones or chose not to sell when you could is like telling ppl to not get married cuz u got divorced
Altcoins are getting decimated.
You have to ask, if BTC slowly climbs and outperform altcoins. Will there even be an alt season? Especially since a lot meme coins still command large market caps.
Part of the problem here is that they are getting too easy to create. You can create a coin for the cost of lunch. Market is going to saturate as money gets distributed across more and more.
Safety play. Stick to the alt L1s that enable the gambling. Be the casino, not the gambler.
I mean the higher BTC dominance goes the more likely alts season has of occurring. Some people think even once alts start to gain on bitcoin it will be because bitcoin is dropping faster than alts. There is no more altcoin liquidity to support BTC. So alts gain but both get rekted against USD.
Will people stop being greedy and stop chasing big gains?
If yes, then no alt season. If no, then yes alt season.
The closer Bitcoin gets to $100k this cycle, the more people are gonna wonder "can I realistically expect 3x, or even 2x from this coin?"
That's when people turn to alt coin, when they want more upside than 1.5x-2x
At 100k btc, alts going up 2x is literally sending them back to where they were in the recent local highs and there still wouldn't be an alt season, since one would reasonably assume there would be massive sell orders at 100k btc.
The mid-long term is not looking good for alts, its gain adoption or die in the next bear market.
BTC in a range. No worries until we break to the downside of upper fifties. Could see a couple more cycles of action between upper 50s and lower 70s until we break out on some good news.
Wouldn’t be surprised for it to take a couple of months. Enjoy the summer! (If you are in the northern hemisphere)
Getting back into cryptos for the first time in a couple years, see SOL seems to be the sub’s current #1 villain. When I started ways back it was Ripple.
What have been some other most hated but top ranked cryptos in the last few years here?
Good to see you inverting rcc, always a good move! PEPE is another hated yet very profitable one. Just scroll on through and do the oposite of everyone in here and you’ll be grand!
i probably should have sold it all in march, but i did manage to sell a big stack of aero at just under $2 (avg buy around .35), so im doing a lot better than i would have been had i not.
what is the most decentralized crypto except BTC? I know that ETH could be more decentralized, but I am really wondering, which crypto is objectively the most decentralized?
Whole crypto market cap dropped about 12 per cent in last 4 months or so and about 10 per cent just in last month. Some top 100 coins are down 70 per cent and counting. This is not exactly bull run bro. It was bull run from last autumn till 10 march or so. Since then it is wild ride down.
Investing in nothing but BTC/ETH (in my crypto portfolio) has been the best move I have done since 2022. My mental health is extremely well and my chart addiction isn’t a thing anymore. Always gonna be in profits long as BTC is above 21k and ETH is above 1,500. Life is good.
A lot of people try a lot of different coins and tactics but most of the people realizə that too late, Bitcoin and Ethereum will be the best investment options for a long time imo
It's absolutely painful holding my alts right now.
And the funny thing is that BTC barely went down in pric. I don't even want to imagine how they are going to look if somehow BTC goes below 50k this summer.
It has all the advantages of a stablecoin when BTC pumps. If you don’t want the bother of paying taxes on profits this bull run, XRP is the coin for you.
Surprise surprise. Called it yesterday. Drop off a cliff just like every other day. Prob drop down to 63-63.5k. Then take a couple days to build back up to around 64 before we drop off another cliff. 1 step forward, 2 steps back. Rinse and repeat
How’s that small cliff now? Just like I called it, we’re down to $63k. Down $1,500+ on the day. Now will probably make the typical slow rise up for a day or two back to around $64k before we drop off again, this time down to $62k. Rinse and repeat.
And before you say $1.5k is small. That’s 2+%. Not a lot for a single day, no. But when it’s day after day it’s gonna add up quick
This might be better? Crypto usually pumps a little on the weekends just to dump during the week. Maybe this time we can dump a little on the weekend to pump during the week.
But who knows. Bearish until September imo.
never ceases to amaze me how sure everyone is of their prediction, especially at times like this. It's never "I think it will go down/up", but "I KNOW it will.."
at first you care but after being on the space for more than a year you learn to just completely ignore those guys
I would love to see some actual statistics (not just a poll) of how many people on here make actual profits. My guess is not that many. Too often this place feels like it has the mindset of a bunch of teenagers: Zero patience, want to get rich RIGHT NOW, if the market goes the other way: tantrum, super emotional in every way, little interest to actually invest time and learn fundamentals, how things work, take too much risk.
80% of people lose money in crypto. They don't understand the basics.
1. Understand the 4 year Bitcoin cycle. Know where you are in that cycle.
2. Understand that there is Bitcoin and everything else. Bitcoin is the money. Alts are just misc tech, including ETH. ETH is just another Alt.
3. Any crypto portfolio must have at least 50% Bitcoin. 100% is even better.
4. Alts only have any value when Bitcoin profits are taken to provide them with liquidity. All money enters the crypto market via Bitcoin.
5. Don't try to trade crypto, especially not with leverage.
6. Never buy green candles.
7. Bitcoin miners control the Bitcoin price out of necessity and incentives in the Bitcoin design. The macro economic environment is irrelevant to Bitcoin. Narratives, like the ETFs, are irrrelvant to Bitcoin.
8. Alt season is a very small window of time at the end of each 4 year cycle. Alts spend the remaining 4 years of the cycle bleeding to Bitcoin. The false narrative that Alts perform better than Bitcoin is wrong. Only experienced crypto investers are capable of taking advantage of the small window of time when Alts perform well.
9. Don't HODL any Alt.
10. Never sell Bitcoin.
Anyone who bought BTC or ETH and held for 4 years or more is in profit. Your bad luck was to buy near the top of last cycle, and it's not 4 years yet. Patience little grasshopper, we are going to see new all time highs by the end of this year for both BTC and ETH.
What's sad is the utter disdain some have for Bitcoin. It's like they're mad they missed out on 1000x or more.
Meanwhile, in 2020 they aped into random alts/memes in the hopes of getting that 1000x or more. Had they just DCA'd into Bitcoin, they could have seen 400% gains or more.
What a shame.
I mean yeah some people think that way. But I think a lot of people dislike bitcoin because it doesn’t provide a net positive to society and most people who shill it are intolerable. Personally, I think bitcoin is a great idea, but it’s very much an ideal. The real world doesn’t work the way Bitcoin maxis foresee their future with bitcoin.
Bitcoin doesn't provide a net positive to society?🤔
1. **Financial Inclusion**: Millions are unbanked, but with Bitcoin, all you need is a smartphone. In Nigeria, where mobile phone penetration is high, Bitcoin provides access to financial services.
2. **Low Transaction Costs**: Traditional remittance services can charge up to 10%. In El Salvador, Bitcoin's Lightning Network allows instant and cheap transactions.
3. **Security and Control**: In places with unstable banking systems, like Venezuela, Bitcoin provides a secure way to store and transfer money without relying on banks.
4. **Protection Against Inflation**: In Argentina, where inflation can exceed 50% annually, Bitcoin offers a way to preserve value. Its capped supply prevents devaluation seen in fiat currencies.
5. **Empowering the Unbanked**: Bitcoin provides access to financial tools like savings and microloans. In Kenya, Bitcoin is used alongside mobile money services like M-Pesa.
6. **Transparency and Trust**: Blockchain's transparency helps reduce corruption. In Afghanistan, Bitcoin is used to ensure fair distribution of aid.
7. **Economic Opportunities**: Bitcoin opens up global economic participation. Freelancers in countries like India can get paid directly in Bitcoin.
8. **Censorship Resistance**: In authoritarian regimes, financial transactions can be monitored. Activists in Belarus use Bitcoin to fund their efforts without government interference.
9. **Community Development**: Bitcoin facilitates peer-to-peer lending. In rural Uganda, Bitcoin is used for microfinance, helping small businesses.
10. **Disaster Resilience**: After natural disasters, like the earthquakes in Nepal, Bitcoin provided a way for the diaspora to send funds quickly to those in need.
11. **Load Balancing for Electrical Grids**: Bitcoin mining can help balance electrical grids by using excess energy during low demand periods. In Texas, miners shut down during peak demand to stabilize the grid.
Yeaaah nah I don’t think these outweigh the cons such as furnishing criminal enterprises, money laundering, energy expenditure, associated scams, etc. I have no idea why any country would ever use bitcoin as treasury when a few random people own the vast majority in circulation and heavily influence its price. Not to mention bitcoin is not private, which was supposed to be one of the most important aspects in financial liberation. Bitcoin is not viable for use as a currency. It’s too slow. Can this be remedied? If anything, and I’m playing devils advocate here, monero is better suited for all of the bullets you listed in the sense that it is a true private cryptocurrency.
Weak arguments.
The vast majority (it's not even close) of money laundering is done via fiat currencies, with banks paying billions and billions in fines.
Security > Privacy & Speed
There will be layer 2 solutions for Bitcoin.
There will always be fiat. Adoption is the big question for bitcoin. I think at this point most people know about bitcoin and have made up their mind whether or not they will invest in it. What catalyst do you believe will galvanize bitcoin adoption?
You can't see the forest for the trees.
It's important to look at the adoption of Bitcoin by people under 50, and especially under 30.
There will never be mass adoption until the boomers have all died and passed their wealth to their kids/grandkids whom are more likely to be tech savvy enough to buy bitcoin.
And, according to a coinbase study, there are more than 50 million people who own crypto in the US. Obviously, some people hold alts and no bitcoin, but I'd wager that's rare.
It was the same in 2017, early 2018 when many called Bitcoin old tech or a dinosaur and truly believed that the future belongs to alts. Bitcoin will weather any storm and on the longterm will outperform almost every alt. Alts should only be held shortterm as many won't survive one market cycle and just become zombie coins (see Cardano as a prominent example). But most people find it hard to take profits in the right moment. What if it goes higher? And then roundtrip their gains. I surely have done this more than once, ha.
Looks like I am right as always. Nothing but dump and shit news out of the crypto world.
How anyone thinks we have a bull run coming is kidding themselves and injecting hopium into their veins. See ya in 4 years!
Patience, young moonwalker.
The inefficient miners will eventually run out of bitcoin to sell to cover their debts.
This happens after every halving. The price corrects and then grinds up. Not once has Bitcoin dropped below its local low following the halving.
This cycle, that low was $56k. I think only a black swan event could push Bitcoin into the sub $50k range.
Join us live June 23 at 9AM EDT / 1PM UTC on an x.com space with guests from r/Ethtrader and r/Coneheads to discuss the upcoming CCMOON DAO constitution and return of MOON distributions, Community Currency, and DONUTs updates! https://www.reddit.com/r/CryptoCurrency/s/DaXmVpDDH3
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A great time to buy some ETH. Can't see it going too low. What's burgers that everyone is referring to?
Burgers = americans
Wouldn’t mind getting more BTC, stopped buying when we went pass 60k. 50k area seems like a good place to accumulate more.
Makes me feel like this is a good price to sell. I’ve got same logic
And I thought the dump going to happen Monday morning.
The big one is still coming
Oh don't worry, it will.
Bears are using every resort they have to break that 63.5k. Burgers later today will finish it to dump it to 60k. Just watch and amuse yourself
Burgers usually sell at 66k for 3% gains to be fair. Not expecting them to dump it further myself but we will see.
Eurocucks sell for a loss
Watching with dread.
BTC median and average Q3 % return is the lowest of all Qs since 2013. Q4 has the highest median and average returns though 👀
Keep accumulating $AVAX . Low af
Lol no. It's low for a reason. Imagine how low it will go if a bear starts
I'm wondering if stuff will Rotate like Solana was big and then it will be avax then base. They all have low fees
telling ppl to not buy alts and memes cuz u picked the wrong ones or chose not to sell when you could is like telling ppl to not get married cuz u got divorced
It's obviously up to them but memecoins are always a miss unless they 30x
it is up to them, so just lay out their options n let them decide instead of making decisions for them, everyone’s got different risk tolerance
20000 or something meme-like coins got generated last month. That means it’s more like a 20000 to one shot. Unless you 20000x, it’s a miss.
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May i add when would moon distribution happen?
Wake me up from this nightmare
Altcoins are getting decimated. You have to ask, if BTC slowly climbs and outperform altcoins. Will there even be an alt season? Especially since a lot meme coins still command large market caps.
Part of the problem here is that they are getting too easy to create. You can create a coin for the cost of lunch. Market is going to saturate as money gets distributed across more and more. Safety play. Stick to the alt L1s that enable the gambling. Be the casino, not the gambler.
Altcoins naturally get decimated by a cyclical period
I mean the higher BTC dominance goes the more likely alts season has of occurring. Some people think even once alts start to gain on bitcoin it will be because bitcoin is dropping faster than alts. There is no more altcoin liquidity to support BTC. So alts gain but both get rekted against USD.
Will people stop being greedy and stop chasing big gains? If yes, then no alt season. If no, then yes alt season. The closer Bitcoin gets to $100k this cycle, the more people are gonna wonder "can I realistically expect 3x, or even 2x from this coin?" That's when people turn to alt coin, when they want more upside than 1.5x-2x
At 100k btc, alts going up 2x is literally sending them back to where they were in the recent local highs and there still wouldn't be an alt season, since one would reasonably assume there would be massive sell orders at 100k btc. The mid-long term is not looking good for alts, its gain adoption or die in the next bear market.
Many of the major alts don't even have to go anywhere near their ATH to give you well over 5x this cycle.
Alts are a distraction
Research finds that's 95% of crypto is going down.
Very observant. Research also shows water is wet
Bitcoin dump crashes the market.
It seems like it’s back down to new lower lows.
BTC in a range. No worries until we break to the downside of upper fifties. Could see a couple more cycles of action between upper 50s and lower 70s until we break out on some good news. Wouldn’t be surprised for it to take a couple of months. Enjoy the summer! (If you are in the northern hemisphere)
Sell in May and...
Keep DCAing so the big guys can keep selling and getting richer.
This sub is well known for providing exit liquidity.
It's called mirror effect i think
Getting back into cryptos for the first time in a couple years, see SOL seems to be the sub’s current #1 villain. When I started ways back it was Ripple. What have been some other most hated but top ranked cryptos in the last few years here?
Depends what you consider top ranked. Some of the higher ones are CRO, XRP (still), ALGO, and every memecoin around the top 50
Good to see you inverting rcc, always a good move! PEPE is another hated yet very profitable one. Just scroll on through and do the oposite of everyone in here and you’ll be grand!
They never said they were inverting rcc. Real smooth PEPE shill though.
Must be mad to be the people that control the markets. "Let's take it down a bit".
If these people can just magically control the markets, why not make it up only?
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Damn i should have take some profits months ago
i probably should have sold it all in march, but i did manage to sell a big stack of aero at just under $2 (avg buy around .35), so im doing a lot better than i would have been had i not.
Yesh, right herd with you feeling that regret
Another delay in the Eth ETF may push the markets to 3200 then possibly 3000 🧐.. July 2nd is the eta right?
I’m expecting the worst at this point. How can you not? 🤷
Yeah everybody and his dog is expecting 2nd July and the market is already terrible. Imagine if it gets postponed till the autumn.
Then we chill and wait longer. Don’t worry about the short term too much
Seems like that we are going to try 61k. Keeping some stables ready in case of another alts crash.
Alright. Can I finally sleep one night without waking up in the red. Just ONE night?
You gotta deal with hundreds, and hundreds, of red days to get the real greens. Remember not to waste them when they come!
It's like reverse Christmas morning when you're a kid.
cursed birthday
markets are going to pump this week with rate cuts in developed nations (sweden) and fomc promising cuts this year crypto gonna die
Rate cuts in the rest of the world are just going to make the USD stronger.
Almost for the 500th time!
crypto has died yet again for the 700th time this week.
Alright on the count of 3 everyone stop selling and start buying instead. Problem solved.
1, 2, ....
1
2
1
As Monday approaches everything is going down.. as if wallstreet now made crypto their b*tch
Oh they sure did. We were warned, but I didn’t buy it, now I’m not do sure…
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Alright. My limit buys have been set
Thank you. Now i know downward trend is not over.
what is the most decentralized crypto except BTC? I know that ETH could be more decentralized, but I am really wondering, which crypto is objectively the most decentralized?
Depends on your measure of decentralized but after those two I’d probably say Cardano and Dogecoin
If fees are low while usage is high you should be suspicious
KAS is an unstoppable beast!
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We‘re nearing 3 years of bearmarket holy shit…
Only people who were too scared to invest during bear think this is a bear market.
What? That doesn’t even make sense
Coming from someone who was too scared to invest during the bear market
lol what
We aren’t in a bear market
How would you define 4 months of bleeding? 🤣🤣🤣🤣🤣🤣
What has bleed for four months? I have made good money the past four months
Whole crypto market cap dropped about 12 per cent in last 4 months or so and about 10 per cent just in last month. Some top 100 coins are down 70 per cent and counting. This is not exactly bull run bro. It was bull run from last autumn till 10 march or so. Since then it is wild ride down.
Not your bro. Btc ranging. Still a bull market. Choose better coins
Btc is down 15 per cent in last trimestr.
A new bear is starting. This bull is over
😂. As I said before. Sell snd move on. You can’t handle this world
Nah. The second I do eth will go to 5k.
Good. Please go
How much Bitcoin is still available to mine/be purchased? Please excuse the newb question. Thanks!
Less than 2 millions to be mined
2 million coins? How many have already been mined? Thank you!!!!
More than 19 millions
Amazing. Time to fuckin buy
Investing in nothing but BTC/ETH (in my crypto portfolio) has been the best move I have done since 2022. My mental health is extremely well and my chart addiction isn’t a thing anymore. Always gonna be in profits long as BTC is above 21k and ETH is above 1,500. Life is good.
A lot of people try a lot of different coins and tactics but most of the people realizə that too late, Bitcoin and Ethereum will be the best investment options for a long time imo
It's absolutely painful holding my alts right now. And the funny thing is that BTC barely went down in pric. I don't even want to imagine how they are going to look if somehow BTC goes below 50k this summer.
Imo alts would go down but it would be a bit like wringing a damp rag. Theyve already fell so far relative to btc
It won’t go below $60k this summer
why dont you have btc then?
Because it’s going below 50k?
Literally guaranteed financial advice
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It has all the advantages of a stablecoin when BTC pumps. If you don’t want the bother of paying taxes on profits this bull run, XRP is the coin for you.
Who tf is still debating buying ripple😭😭😭
dont buy [xrp.buy](http://xrp.buy) something else.
XRP looks good. I don’t hold any at the moment but I do think it looks good
lol, it’s Ripple. You can’t take that as a serious option.
Wtf is this statement lmao. If you’re hesitating, then don’t.
don't lol
Oh for fuck sake, ROSE. Back in the 8c range. Piece of shit.
Got rid of that a couple months ago.
TON gives no fucks. Wish i bought earlier
No btc trading pairs....immune to btc trash price action.
Lol it reminds me of Richard Heart’s bs about hex
Put 100k in Hex, do you think it will recover , I believe in Richard Hart
Lol not hex shills again
Of course not.
>do you think it will recover If the SEC believes in Richard Hart
Why only 100k?
This is the price he thought of before.
I wish you well.
💀
/s
Down 17% in a month, up 35% since January 1st, the year is not that bad so far. Not as good as 2023 tho
BTC drops less than 1%, Alts drop by 5-10% lol
Alts have the opposite effect too though, haha, we only notice the downward movement
...as tradition dictates.
Surprise surprise. Called it yesterday. Drop off a cliff just like every other day. Prob drop down to 63-63.5k. Then take a couple days to build back up to around 64 before we drop off another cliff. 1 step forward, 2 steps back. Rinse and repeat
Quite a small cliff. Almost looks impressive on the 5 minute chart
How’s that small cliff now? Just like I called it, we’re down to $63k. Down $1,500+ on the day. Now will probably make the typical slow rise up for a day or two back to around $64k before we drop off again, this time down to $62k. Rinse and repeat. And before you say $1.5k is small. That’s 2+%. Not a lot for a single day, no. But when it’s day after day it’s gonna add up quick
Still pretty small. I wish red days were this slight in the past
I’d rather dump 15% in a day than have it dragged out for weeks
Is it 7 days of red now? When will this end?
This might be better? Crypto usually pumps a little on the weekends just to dump during the week. Maybe this time we can dump a little on the weekend to pump during the week. But who knows. Bearish until September imo.
True story
Watching day to day action will consume you
Designed to filter out the weak hands
Are we in a bear market man? The alts are 20/24 days in June are just straight red.... Wtf is this?
Bull is over it seems. Yeah
It’s summer and we need some good news to be a catalyst to go up.
Don’t need any news
Ohhhhhh my LINK bags are hurting!
I feel you bro
:( Was so close to selling a few months ago. I never follow through!
never ceases to amaze me how sure everyone is of their prediction, especially at times like this. It's never "I think it will go down/up", but "I KNOW it will.." at first you care but after being on the space for more than a year you learn to just completely ignore those guys
It’s because they are usually teenagers. At that age you still gotta learn to be humble.
I would love to see some actual statistics (not just a poll) of how many people on here make actual profits. My guess is not that many. Too often this place feels like it has the mindset of a bunch of teenagers: Zero patience, want to get rich RIGHT NOW, if the market goes the other way: tantrum, super emotional in every way, little interest to actually invest time and learn fundamentals, how things work, take too much risk.
80% of people lose money in crypto. They don't understand the basics. 1. Understand the 4 year Bitcoin cycle. Know where you are in that cycle. 2. Understand that there is Bitcoin and everything else. Bitcoin is the money. Alts are just misc tech, including ETH. ETH is just another Alt. 3. Any crypto portfolio must have at least 50% Bitcoin. 100% is even better. 4. Alts only have any value when Bitcoin profits are taken to provide them with liquidity. All money enters the crypto market via Bitcoin. 5. Don't try to trade crypto, especially not with leverage. 6. Never buy green candles. 7. Bitcoin miners control the Bitcoin price out of necessity and incentives in the Bitcoin design. The macro economic environment is irrelevant to Bitcoin. Narratives, like the ETFs, are irrrelvant to Bitcoin. 8. Alt season is a very small window of time at the end of each 4 year cycle. Alts spend the remaining 4 years of the cycle bleeding to Bitcoin. The false narrative that Alts perform better than Bitcoin is wrong. Only experienced crypto investers are capable of taking advantage of the small window of time when Alts perform well. 9. Don't HODL any Alt. 10. Never sell Bitcoin.
this guy gets it. anyone who says the opposite are either new on the scene or naïve
What is the point of of converting fiat to Bitcoin if you never sell the Bitcoin and also don’t use it? Can you remind me please?
Is almost 4 years being in this long enough?
Anyone who bought BTC or ETH and held for 4 years or more is in profit. Your bad luck was to buy near the top of last cycle, and it's not 4 years yet. Patience little grasshopper, we are going to see new all time highs by the end of this year for both BTC and ETH.
Ill believe it when I see it lol thanks though for being cool.
What's sad is the utter disdain some have for Bitcoin. It's like they're mad they missed out on 1000x or more. Meanwhile, in 2020 they aped into random alts/memes in the hopes of getting that 1000x or more. Had they just DCA'd into Bitcoin, they could have seen 400% gains or more. What a shame.
I mean yeah some people think that way. But I think a lot of people dislike bitcoin because it doesn’t provide a net positive to society and most people who shill it are intolerable. Personally, I think bitcoin is a great idea, but it’s very much an ideal. The real world doesn’t work the way Bitcoin maxis foresee their future with bitcoin.
Bitcoin doesn't provide a net positive to society?🤔 1. **Financial Inclusion**: Millions are unbanked, but with Bitcoin, all you need is a smartphone. In Nigeria, where mobile phone penetration is high, Bitcoin provides access to financial services. 2. **Low Transaction Costs**: Traditional remittance services can charge up to 10%. In El Salvador, Bitcoin's Lightning Network allows instant and cheap transactions. 3. **Security and Control**: In places with unstable banking systems, like Venezuela, Bitcoin provides a secure way to store and transfer money without relying on banks. 4. **Protection Against Inflation**: In Argentina, where inflation can exceed 50% annually, Bitcoin offers a way to preserve value. Its capped supply prevents devaluation seen in fiat currencies. 5. **Empowering the Unbanked**: Bitcoin provides access to financial tools like savings and microloans. In Kenya, Bitcoin is used alongside mobile money services like M-Pesa. 6. **Transparency and Trust**: Blockchain's transparency helps reduce corruption. In Afghanistan, Bitcoin is used to ensure fair distribution of aid. 7. **Economic Opportunities**: Bitcoin opens up global economic participation. Freelancers in countries like India can get paid directly in Bitcoin. 8. **Censorship Resistance**: In authoritarian regimes, financial transactions can be monitored. Activists in Belarus use Bitcoin to fund their efforts without government interference. 9. **Community Development**: Bitcoin facilitates peer-to-peer lending. In rural Uganda, Bitcoin is used for microfinance, helping small businesses. 10. **Disaster Resilience**: After natural disasters, like the earthquakes in Nepal, Bitcoin provided a way for the diaspora to send funds quickly to those in need. 11. **Load Balancing for Electrical Grids**: Bitcoin mining can help balance electrical grids by using excess energy during low demand periods. In Texas, miners shut down during peak demand to stabilize the grid.
Yeaaah nah I don’t think these outweigh the cons such as furnishing criminal enterprises, money laundering, energy expenditure, associated scams, etc. I have no idea why any country would ever use bitcoin as treasury when a few random people own the vast majority in circulation and heavily influence its price. Not to mention bitcoin is not private, which was supposed to be one of the most important aspects in financial liberation. Bitcoin is not viable for use as a currency. It’s too slow. Can this be remedied? If anything, and I’m playing devils advocate here, monero is better suited for all of the bullets you listed in the sense that it is a true private cryptocurrency.
Weak arguments. The vast majority (it's not even close) of money laundering is done via fiat currencies, with banks paying billions and billions in fines. Security > Privacy & Speed There will be layer 2 solutions for Bitcoin.
There will always be fiat. Adoption is the big question for bitcoin. I think at this point most people know about bitcoin and have made up their mind whether or not they will invest in it. What catalyst do you believe will galvanize bitcoin adoption?
You can't see the forest for the trees. It's important to look at the adoption of Bitcoin by people under 50, and especially under 30. There will never be mass adoption until the boomers have all died and passed their wealth to their kids/grandkids whom are more likely to be tech savvy enough to buy bitcoin. And, according to a coinbase study, there are more than 50 million people who own crypto in the US. Obviously, some people hold alts and no bitcoin, but I'd wager that's rare.
Why will they buy bitcoin?
It was the same in 2017, early 2018 when many called Bitcoin old tech or a dinosaur and truly believed that the future belongs to alts. Bitcoin will weather any storm and on the longterm will outperform almost every alt. Alts should only be held shortterm as many won't survive one market cycle and just become zombie coins (see Cardano as a prominent example). But most people find it hard to take profits in the right moment. What if it goes higher? And then roundtrip their gains. I surely have done this more than once, ha.
Exactly this. 🎯
Looks like I am right as always. Nothing but dump and shit news out of the crypto world. How anyone thinks we have a bull run coming is kidding themselves and injecting hopium into their veins. See ya in 4 years!
Patience, young moonwalker. The inefficient miners will eventually run out of bitcoin to sell to cover their debts. This happens after every halving. The price corrects and then grinds up. Not once has Bitcoin dropped below its local low following the halving. This cycle, that low was $56k. I think only a black swan event could push Bitcoin into the sub $50k range.
😂. Sell and be done. You obviously can’t handle and don’t understand any of this at all.