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Messages - Z-tight

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496
Bitcoin is not a money doubling scheme and it is not possible to just double your money overnight, it moves in an organic way and returns on investment is usually in the long term. Patience is so important when you decide to buy BTC, if you aren’t ready to hold it for the long term, the chances of selling at a loss is very high.

About telling people about BTC, it is very important to be careful on how you give investment advice to people, you can tell them about how BTC is a censorship resistant and permissionless network, but never tell someone to invest in BTC, let them make that decision themselves.

497
I don’t listen to what Elon says about cryptocurrencies, i think whenever he wants to create panic and cause manipulation in the market, he talks about a specific coin, either that he is buying or selling some coins and then people start making decisions based on that.

Do your own research yourself and do not buy or sell a coin because Elon Musk or any other popular figure is doing so, make your own decision off your own research.

498
Bitcoin Forum / Re: How often do you buy bitcoins at this time?
« on: January 20, 2024, 10:53:36 PM »
Because of the high tx fee it is difficult to use the dca strategy, especially for the people who buy weekly, they have to either buy monthly or even bi-monthly. Take note that people have different strategies, there is no one-size-fits-all, so you should not try to copy someone, do what you can and in your own time, you will get more satisfaction in that way.

499
Stable Coins Forum / Re: What are 2 types of stablecoin?
« on: January 20, 2024, 10:47:33 PM »
The subject and content of your post isn't in harmony, anyway the user above me already gave you an answer to the question in your subject. I just want to add that with stablecoins you are not sure if they are fully backed as the issuers claim, and so many of them are just printed out of thin air; so if you want to use any kind of stable coin, it is better if it is for the short term.

500
Bitcoin Forum / Re: BTC Spot ETF is market poison?
« on: January 20, 2024, 10:11:13 PM »
There is so much speculation on what would happen in the long run, we have seen the short term movement and BTC dumped after the approval, the long term may be positive in terms of price, but it is still speculation for now.
Losing the historical mission of Bitcoin: In 2008, Satoshi Nakamoto introduced Bitcoin as a method for people to have the right to self-custody of money, not dependent on third parties, escaping the traditional financial model that has a lot of problems.
I will agree with you here, not your keys, not your coins and if you buy BTC spot etf’s you don’t control your coins and that is a bad decision. But we cannot stop people from doing what they want, people even store their funds in centralized exchanges which is even worse in my honest opinion.

501
Basic Questions about Cryptos / Re: What is bitcoin?
« on: January 20, 2024, 09:47:27 PM »
Bitcoin is designed to secure our identities so that no one can follow us down and put our lives in risk, particularly those of the wealthy people.
This is not totally true, take note that the BTC network is not anonymous, but pseudonymous, and that’s because the BTC blockchain is public and transparent. In order to use BTC anonymously you have to make use of privacy solutions like mixers, CoinJoin solutions and p2p exchanges, without that it is easy for you to be traced, especially if you use centralized exchanges.

502
I don’t really care about ‘whale alrerts’, i believe the people who are usually very concerned are people who trade and so they need to know what to anticipate. As a bitcoiner, i know funds can move for many reasons, be it from addresses from which coins have not moved before, it could also be institutional investors buying or moving their funds, but i do not care.

503
Stable Coins Forum / Re: Is Tether a Fraud?
« on: January 19, 2024, 11:28:01 PM »
Usdt is so manipulated that there are a lot of coins flying around that are backed by nothing, the issuing company can print usdt as they like and it is obvious that they do not have enough reserves to cover their liabilities. I don't think it is wise for someone to be saving their funds in usdt, when they can do so in a coin like BTC that is censorship resistant and permissionless.

504
Question 1
Would you prefer to pay with Bitcoin whose price is about $43K, or you would prefer to pay with a particular coin whose price is about 50cents ?.
BTC is a payment option and i would not mind using BTC for payment, but i will prefer to use it to purchase cheaper items and commodities, like buying a cup of coffee at a local restaurant or getting a cheap item in the store. I would not use BTC to buy a car, but there are people who have a lot in BTC and they have earned so much BTC overtime, for them it could be easier to spend BTC on expensive commodities like a car.

505
Basic Questions about Cryptos / Re: Newbies never buy memecoin quickly.
« on: January 19, 2024, 10:23:51 PM »
Not only memecoins, i will tell newbies not to rush into buying altcoins, they are more risky that BTC and many of them do not have use cases. If you buy BTC as a newbie and store it for a long time, you can be sure you will make returns, but the case is not the same for altcoins, so many of them end up as dead projects, so you have to be careful of altcoins you buy.

506
I did not realize that alts had a good week, specially ETH, when I look at it, it doesn't look in green for the past seven days, but maybe I took the wrong period to calculate.
It pumped just after the BTC spot etf's were approved, and many people began discussing about an Altcoin etf, i think all of these is just short term movements and correction, in the long run BTC price will pump. Many investors are so impatient right now, they expected a pump immediately the approval was announced, but they have to be patient, it is going to be an organic movement.

507
I don't think this man knows what he is talking about, they call him a BTC critic, so he is probably saying this because he is anti-BTC. The sec already approved 11 BTC spot etf's in the U.S. market, so to say now that they are going to make another move that will result in a serious dump in the price of BTC feels like bullshit. Surely the sec are not pro BTC, but they understand that they cannot control BTC and they cannot make it costly.

508
Crypto Exchanges / Re: Status of CEX in your country
« on: January 19, 2024, 12:37:05 AM »
Delete!

509
Crypto Exchanges / Re: Status of CEX in your country
« on: January 19, 2024, 12:36:30 AM »
Centralized exchanges have to comply with the laws and regulations of the countries they operate in, if they feel they cannot comply to it, then they have to stop offering their services to people who live in that country.

Take note that you don't have to use centralized exchanges, you can pick any p2p exchange from here: https://kycnot.me/?type=exchange and trade without handing your data out and without any third party.

510
Bitcoin Forum / Re: DO NOT OVERPAY your Bitcoin transaction fees.
« on: January 19, 2024, 12:31:13 AM »
When a transaction is marked RBF, delivery will be very slow because the costs are very cheap, which will prevent miners from being quick enough to carry out the transaction process that is taking place.
I don't think you understand what you are saying, when a tx is flagged as rbf, it simply means that in a situation were that tx gets stuck, the sender can replace the tx with a new one paying a higher fee this time, so that miners will mine it and that will then make the initial tx invalid.

Very soon most BTC nodes will adopt the full-rbf feature, and that means you will be able to replace a tx with a new one, even if the tx was not originally rbf-enabled.

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