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Messages - Dabbystar

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Basic Questions about Cryptos / What are common risks involved in crypto?
« on: November 26, 2021, 01:38:13 AM »
As you become involved in the new digital monetary system known as cryptocurrency, it doesn't take long to recognize there's risk involved in these transactions.
Many investors today had faced many challenges as a result of their ignorance of the cyber thefts. And most are not willing to share their ugly experiences from thier omen. Of which I have experienced during my short stay as an investor.
      Here are some common risks one could encounter during their process of stay in the crypto and Blockchain ecosystem.

1. As the world globally grow everyday digitally, so is the brain of a good scammer, here some scammers send you some email and it appears exactly as tho it was sent by a legitimate crypto currency company,.. don't be in a haste to invest with them, don't even try to click on the links in their message, try check if the logo of the company is identical and there's no slight difference or better still confirm from the help centers of the particular Blockchain using their websites.

2. What wallets do you use to store up your treasure?
So many fake wallets are in existence today, and these apps were created by scammers as a trap to withdraw every single coin you have stored into it. Watch the type of DExs of CExs wallets you use to store up your coins.

There are so many others everywhere, feel free to share some to get everyone especially the newbies aware of them and how not to fall for them. Thank you..

2
Cryptocurrency discussions / Re: Can dollar be replaced?
« on: October 23, 2021, 02:24:59 AM »
This is a very important question, but without a straight forward answer, come to think of it, the USD has been the world currency since the US has been the world power, aside this the China nation has been working so hard to lead in the world power but it has continued to be a fruitless effort, The US nation will not seat and watch that happen because for the Chinese Yuan to be the world's currency that simply means the Chinese nation rules the world.
What I'm saying in reply to the question is this, it will be very impossible, if there should be any possibility in it, it will be hell difficult.

3
Its quite an interesting question you asked here mate, I see reasons with what you asked, there are some underdeveloped countries of which in a very long time, crypto will still appear strange to them.
Here's my opinion, I think since the banks can make use of ussd codes to run transactions even when you are offline, there should be room for such things in crypto. To make it easier and accessible by those in rural areas.
My second opinion is that since the internet is a paramount part of the crypto community, every ecosystem should be able to send some delegates who are capable of teaching to, put through some people with still primitive mindset, and enlighten them on how to operate and interact with crypto, so as to make it generally acceptable.

4
It's a very beautiful research you made, I have gone back within few hours to check the market cap of these coins you mentioned, I see future in them. I have all the 3 and some others in my bag, and they are really making my night sleep a beautiful one. I can attest to the fact that these coins and their ecosystem keep enlarging with so many Dapp building in them. Feel so lucky right now.

5
You know that banks and gold are good to invest for long term. Your banks investment will earn few money interest within a year/s, it is safe investment though.
Your gold investment is safe as banks for both are stable investment.

If you invest in cryptocurrency the higher risk because of unstable movement of market. The chance to win higher profit than gold and bank investment in a short time is possible (know as quick rich especially in bull run), the same to lose in a day(drastic fall). By the way it depends on what kind of your crypto investment.

In some time there are circumstances and unexpected situations in cryptocurrency but why need to believe that it is good investment?

Talking about risks, every investment has its own risks. The major thing about crypto investment is being knowledgeable about the markets. Bank interest, well I can equate that to be an annual salary, the best investment so far is the crypto investment if I should say. Yes the risk of drastic fall is there, but if and only if the knowledge is there, the enthusiasm is there and the asset is there, I'll vote crypto everyday Everytime.

6
Crypto is indeed increasing day by day. Bitcoin has crossed $50,000, and the entire crypto market cap has exceeded the limit of $1 trillion for the first time in history. Still, billions of people don’t know why crypto is better than conventional fiat money. In this blog, let’s discuss more fiat money and cryptocurrency.
It is more than certain, if there's a words that qualifies it more, that the crypto currency will in time take over the fiat. As the new generations are born, they are born with the electronic mindset. Everything is possible, I can assure that in no distant time, the world will be a crypto world and the fiat currencies would be in the museums for our younger generation.

7
I see most alt coins growing alongside Bitcoin. Almost all of them including the unpopular ones, growing as well as Bitcoin. In my own opinion, I'd say that most alt coins will even grow higher and higher when Bitcoin start to sideways in price or halts at a particular price.

8
Since the gas fee of Ethereum is still alarming, I guess it's a very beautiful opportunity for other alt coins like Sol, Near  Ada and others. Considering their gas fees. Two years is quite a short time for these other coins to make progressions to Ethereum considering it's current price. I bet if the Ethereum should fix it's bugs within a short time, it will keep being bullish.

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