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Messages - Lucius

Pages: [1] 2 3 ... 29
1
I will say that I hope that the pattern will be repeated, i.e. that the halving will have a positive effect on the price as before. What somewhat disturbed the usual sequence of events was the new ATH before the halving, but there was a good reason for that (spot ETFs), but also the fact that in the last bear market we broke even the ATH from 2017 in a negative sense, of course .

All this only indicates that we must always be prepared for unexpected situations that can significantly disrupt what we consider a logical sequence of events. Therefore, unless something unforeseen happens, I hope that we will again have a big bull run in the near future.

2
30.4% percent? It's crazy high and that means you could talk about cryptocurrency to stranger as conversation starter. Although it's a shame the article doesn't mention how they obtain the number/percentage, which makes me question it's accuracy.

When you look at the fact that, apart from Ukraine, there is not a single other country from Europe that has some of the countries with the highest purchasing power and, accordingly, they certainly have a significant share of people who own cryptocurrencies. This is obviously a very limited survey conducted by a payment processor that apparently generates clients from those countries.

It is always interesting to see China in the top 10 countries when it comes to cryptocurrencies, considering that they banned them some 7-8 years ago. However, for me, a much more significant research would be to get data on where, for example, Bitcoin is mostly used as a cryptocurrency, and not as an investment.

3
I imagine when they liquidate all that crypto, if they haven't already, it's going to cause a massive dip in the market price.

If most of them are altcoins (as it seems to me), then even the billions worth of altcoins that will be dumped on the market will not affect the price of BTC too much. If I happen to keep some altcoins that are mentioned around FTX, I would seriously think about getting rid of them as soon as possible.

But anyway, I am pleasantly surprised at the outcome. I certainly was not expecting FTX to repay any of its victims, after we saw the long line of rug-pulls that happened in 2022.

I hope I'm wrong, but things like this move very slowly and it could be years before anyone gets any funds back. If the Mt.Gox case has been going on for about 10 years, can we expect the FTX disaster to be over in at least half that time?

4
I've never been so convinced of $100k in the next cycle but after looking at this price chart I think $100k is minimum,.I think we're heading to $200k. I don't see anything stopping it.

Someone will have to buy a lot of BTC for that to happen, and now the question is whether we can count on retail buyers or institutional players - or maybe both? The fact is that we now have spot ETFs in the US and they have proven to be a powerful factor in pumping up the price, but we also see that money does not flow in only one direction.

I personally hope that the price at its peak will reach at least x2 compared to the post halving in 2020, which would mean around $140k. If that doesn't happen, I still hope that we will at least reach that magical $100k that everyone has been waiting for so long.

5
~snip~
You could just make a few hops inside your own wallet , or even exchange them for another coin in a swap service if you are very  paranoid.


It's always a good extra step for anyone who wants extra privacy, but it comes at a price since every transaction has a price. However, I would rather pay a few $ more than have possible problems when my coins arrive at their destination. Now that I'm already thinking about it, maybe mixers could also enable additional "mixing" of already mixed coins in a way to make a couple of hops through addresses that the client could specify in the mixing process.

6
I will only join those who are skeptical about what politicians say in an effort to gain power, and I think that we all have the right to doubt what one of the candidates for the US presidency says. The fact that he made a complete U-turn from his previous statements causes optimism among some, but for me Trump is still a man who can wake up in the morning and say something, and already have a completely opposite opinion in the evening.

Regardless of who the new US president is, we should keep in mind that people change, but that the main policy guidelines remain mostly the same, especially when it comes to the protection of national interests. One of those interests is certainly their domestic currency, and any other currency that would ever be a threat to it (including BTC) will not receive friendly treatment.

Here's some more positivity from Trump -> https://x.com/WatcherGuru/status/1788371259287327136


~snip~
This hurts to decide. It's like being forced to choose whether you want to die by being hit by a bus or by being set on fire.


I wouldn't be in their shoes with that choice, because I feel a bit sorry for Joe, who is obviously an old and sick man who simply has nothing to look for in politics, while on the other hand, Trump has so much negative weight on his back that it is not at all clear to me how can be a candidate for president.

7
OK, I wasn't aware of that.  However, what is going to stop people from simply adding +1 karma to each of a particular user's posts, as a form of merit abuse? I believe that each post can only get one karma, so that's a good start. However, I don't think it would be enough to stop a determined merit abuser (although I don't know if just any account can send karma or not).

Nothing prevents members from giving karma points in the way they think it should be done, and certainly there is abuse in all of this. As far as I know, a new feature should be available in the future that would show which post got karma so that we will be able to fight abuses more efficiently - now (except admin I guess) no one can know which post got positive/negative karma.

As for the rules for giving karma, all members who are Senior Rank+ can give them unlimitedly, and I think there is a limit of 1 user to another user only 1 karma every 10 hours.

8
We need to see user reviews of this service, so that it doesn't end up becoming another YoMix.

Trust is gained over time, although it can be betrayed at any moment, as we have witnessed many times so far. Theoretically, 100 users of this forum can try this mixer and everything goes well, and the 101 users who try to mix a slightly larger amount can be left without everything.


Also, I think they need a few more things:
- Contingency plan: How are you going to protect yourself from the government(s)?
- Proof of reserves: About how many bitcoins do they have to run the operation?
- Jurisdiction: Which country is the service operating from?


Protect yourself from governments? The only thing is that he places his service on servers in a country beyond the reach of all those who fight against it. Proof of reserves is something that definitely makes sense, and that should be the first thing the OP should have done.

9
Such cases only prove that people who have a lot of money are not necessarily intelligent - because losing money in such a trivial way would be really shameful for me personally. Without going into the details of the case, if I had tens of millions of dollars worth of coins and if I were to do such an extremely valuable transaction, I would check everything at least ten times - not to mention that the use of a hardware wallet would be mandatory.

The hardware wallet allows us to check whether the address in the interface is identical to the one that came from our device, which means that something like this can never happen to us. I would say that people learn best from their own mistakes, even though this one would be extremely expensive - although there is a suspicion that the story was made up so that the owner could avoid paying taxes - and it is not the first time that people have pretended that they were hacked, and in fact they just transferred coins to another address that is still in their possession.

10
Apart from all the could, can possible in that article there is one thing that really made me raise some eyebrow

Quote
Michaël van de Poppe, founder of trading firm MNTrading, suggests that Bitcoin’s dominance may have peaked as traders begin to shift liquidity to altcoins. Crypto trader Matthew Hyland echoed this, highlighting that Bitcoin market dominance is losing major support.

WTF is this guy smoking, Bitcoin is all over the news and there is like no talk about altcoins whatsoever, everything is about Bitcoin, Bitcoin ETF, bitcoin bonds, approval and regulations, no coin is coming even close to the spotlight and he thinks that altcoins are driving the market. One hiccup from the king and everyone is in red but lol, Bitcoin is losing dominance. Good luck keeping the market in the green with PEPE.

These guys obviously have their own vision of how the crypto-market works, and it is not excluded that they try to direct those who read in the direction of investing in altcoins by selling them the story that Bitcoin is losing its dominance. I have always called articles like this cheap PR, because in reality, when you look at it, some people just want to promote themselves and their business in such a way that they will say something that people will discuss.

Logical thinking is not the forte of such people - I always remember the famous Tom Lee, whose statements could be used to write a book called "A Hundred Wrong Speculations" ::)

11
Yes, it's awful! Our government hasn't yet accepted Crypto as a legal form of monetary system! But that doesn't stop us from using it, though. A lot of guys are using it at this very moment, mostly the young generation (but in secrecy).
~snip~

If there are ways for "them" not to find out, and if you and others know that what you are doing is not bad (regardless of what they tell you), then I personally would not care about any bans. Of course, this implies being intelligent to avoid any possible punishment, but also that everyone knows their personal possibilities when it comes to achieving their personal safety. I don't know what the punishments are for those caught working against the law, but as long as it's not the death penalty or prison I wouldn't worry too much.

At this moment, I only try to teach those who won't get the wrong idea or mixed feelings about my work (crypto). Basically my family! :D

Family is important, but try to keep your "business" as private as possible, because there are always people who can use such information to do something bad. If you have already told your family something about it, be sure to teach them that such things should remain within the family.

12
Gensler is obviously a man who has a negative attitude towards cryptocurrencies and this is something he has expressed many times. When you add to that that there is a lot of truth in what he says when it comes to crypto-scam, then his personal beliefs have a reflection in relation to his official duties as well. In addition to all this, it can be seen that a good part of American politicians are quite anti-crypto-minded, and that there is a strong lobby that advocates much stricter measures and regulation when it comes to Bitcoin and all other cryptocurrencies.

I am definitely in favor of doing everything possible to reduce the chances of scams in the crypto-industry, but not in the way of saying that they are all bad and going towards complete bans. In any case, there should be some order on the market, even though I do not approve of going in the direction of disabling any kind of privacy when it comes to any services that enable it.

13
I'm not sure why he immediately got - karma, I guess everyone has the right to open an ANN thread for their service and that first post certainly does not deserve - karma.
~snip~


Maybe for the reason that some don't know what karma points are supposed to be used for - and they would know that if they had read the rules. Apparently, someone didn't like the fact that a new mixer appeared, so they think that with -1 they are doing a favor to the mixers they promote.

Given that old mixers disappear one after another, every new one that appears deserves a chance - which does not automatically mean that it deserves instant trust.

14
Bitcoin Forum / Re: What Happened To Bitcoin?
« on: May 07, 2024, 05:08:51 PM »
So, I feel confident in saying that the adoption of BTC as everyday money - 15 years after its launch - is basically zero.
Where I live, if my only money were BTC I'd starve.
Or have a very limited, exotic diet  :D
As an investment, BTC has been a success story.
As a currency, a failure.


I would not agree that the adaptation in terms of using it as a currency is completely zero - but that it still depends on where you are and how big the crypto community is around you. If there are enough people who want to pay with crypto-currencies and they organize themselves and visit merchants with a request to add such a payment method, sometimes it happens.

I don't know how familiar you are with the example of Arnhem Bitcoin City, but I heard that there are similar places in the EU where Bitcoin really took off because people asked for it and sellers recognized it.

Imo BTC has failed as currency because of its volatility.
Think of a business - a dentist, barber, taxi driver, shoe seller - having on average a 3-5% profit out of each transaction.
Accepting BTC he could lose - given BTC volatility - all of that within 1 day.
Nobody likes to work for nothing.
Why take the risk.
Why accept BTC and then be forced to convert it as quick as possible in a stable currency.


Volatility is an advantage when trading, but of course a disadvantage when paying with Bitcoin - but that's why there are payment processors that serve to overcome that problem. The buyer pays with cryptocurrency, and the seller gets fiat, so it's a win-win situation for both.

It is true that there are not too many physical stores that accept BTC because we also have the problem that on-chain transactions are not instant, but that is why we have thousands of online sellers that accept BTC. Imagine living in a country where you can buy almost anything you want for BTC, and you don't have to pay taxes if 2+ years have passed since you invested in any cryptocurrency - it seems unrealistic, but it's true ;)

15
Cryptocurrency discussions / Re: Again, Don't Ignore Security
« on: May 07, 2024, 04:47:29 PM »
If nearly everyone knows all about security measures. If this info is being repeated basically daily on all large crypto forums and in article on numerous webpages, why people still get into troubles? Why people still lose their money? Still keep importand files on emails or desktop, still use qwerty123 like passwords and etc. Some even repeat mistakes and lose their money several times. I have been thinking about this and still havent found any explanation for reckless actions.

In general, how many people are active on the forums or read anything? I think that this is a very small percentage of people and that the majority of those who invest in cryptocurrencies have very limited knowledge, even of the basics of computer literacy.

It should be taken into account that education systems differ greatly from country to country, or perhaps even from continent to continent. In some countries like India, many are uneducated because there simply aren't enough schools, and in one documentary I heard the information that that country should build one new school every 10 minutes to provide everyone with an education.

Of course, even those who are educated are often careless and rash, and when we consider that scammers use the possibilities of the internet to target their targets anytime and anywhere, then it is logical that many will fall into at least one of the countless traps they set.

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