/biz/ - Why do people still invest in this? Bitcoin is too ...
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My journey losing it all (~11 BTC)
I lost it all (this my old rogerver bcashy troll account btw) I don’t even know how to start but as of yesterday I’m officially broke, I ruined my life and future. I’m a 23yrs guy, my journey with Bitcoin started in 2014. I bought it to actually use it not sure if people do that nowadays? but The HODL journey didn’t start until the beginning of 2017 as I notice the $ value in my blockchain wallet steadily increasing didn’t even know how or why it was increasing I thought it was a glitch making me free money for this reason I decided to go ALL IN I dumped my life saving into Bitcoin. price was around 1-2K $ and I was able to get 11 BTC in total. Unfortunately before the Bullrun start I lost around 4 coin due to ICO"s scams and just buying shitcooins in poloniex with zero trading knowledge(had a great time with the trollbox). After my loss I took my coins out of the exchange and held in a cold wallet, Fast forwards September 2017 the price kept going up I couldn’t even believe it specially after it broke past 10k I was so euphoric matter fact I was chilling in here, in this subreddit celebrating with everyone posting memes etc.. When BTC hit 20k my greedy asss still didnt wanna sell I didn’t have a price target I though it will keep going up forever. It was going so quick I couldn’t even process what was happening I told my siblings I was rich they told me to sell this bubble but I said "HELL NO! I was part of the moonboy gang we don’t sell we HOODL" I was 19 at the time. seeing this type of money was unreal I had more than 6 fucking figures in my wallet. Eventually we topped out at 20k I didn’t sell although the price kept going down and down and Depression started to hit after we dropped below 10k specially when it went down more near the 3k level I started to regret everything kicking my self for not listening to my siblings when they told me sell. Nonetheless I still had faith in Bitcoin and knew one day we will recover but I needed to accepted the fact that it might take months maybe years to get back to ath. for this reason I disconnected from the crypto community I had to forget about Bitcoin so I shifted my focus somewhere else luckily I stumbled across this popular game called “Fortnite” it took all my time and distraction away from my crypto for a good year or two I barely even noticed the peak of 2019. Anyways mid-late 2019 I got heavy in the stock market I started to see all these guru make insane amount of money just day trading. I was more of an investor type guy but I consumed so much information about day trading and how the psychological aspect is so important, I guess I mastered a bit of that by holding Bitcoin throughout the bear market. Anyways recently in August during the Bitcoin rally I though I had enough skills and decided it was finally time for me to trade Bitcoin specially because it was tradable 24/7 I wanted to start increasing my money and stop sitting on my coins I've had enough of the bear market I thought it was gonna be another P&D episode specially after I started to get deeper in the Crypto community and understood how price moves. I used to be Bitcoin maximalist but then I started to notice the suspicious activity around bitcoin, I came to realize that bitcoin was not the same as it was before, these toxic unregulated entities have turned bitcoin into a giant ponzi playground with everyone being brainwashed by these crypto twitter advocates who are nothing but CZ binance acting puppets. I know it sound crazy but it’s true, the receipt it out to the public, the price is manipulated by Tetther Mafia and these scam exchange. I don’t believe in conspiracy but neither do I believe in coincidence, I witnessed this fraud my own eyes, Whale-alert notified me every time Tetther printed new money and sent it to exchanges and next thing you the price went up. Ever since they added derivative I assume they manipulate the price in spot to liquidate future traders. This whole rally was propt by Tetther mafia using the overall condition in the market as an excuse to attempt artificial FOMO and bring real liquidity in this fake liquidity pool. As the fraud was getting more obvious I started to despise Bitcoin and traded the ponzi based off emotions I neglected the technicals I didn’t have risk management and eventually got liquidated. This is my 3yr+ journey went from 11 btc to 0.. I feel horrible,sad, hopeless and disappointed this was my whole networth vanished in 1-2month. I deprived myself from so many things these last few years hoping my investment grows enough to fund my future. My family still think I’m holding Bitcoins I feel so bad I let them down not sure I'll be able to recover from this. Ps: for those saying Tetther is an old conspiracy trust me this time is different and incomparable to the previous years, the fraud is fully transparent now. Their activity has been very suspicious and concerning lately I’m sensing a major exit-scam. this will impact the whole crypto space because this unbacked counterfeit USD holds most if not all the order book liquidity.
Investing in VTHO vs VET– understanding fundamentals for the two token system
The story with Bitcoin is very simple: if you have Bitcoin you actualy own Bitcoin and you own piece of virtual gold. Its simple as that. With ALT coins/tokens its not that simple and Vechain is a two token model (VET and VTHO) which makes things even more complicated. People dont see or they dont want to see the critical importance of VTHO price in creating value for the VET token which only purpuse is to generate VTHO. The fact is lot of people are investing in VET since it was hyped and has better exchanges and liquidity and bigger MC but the fact is that VeChain operate on blockchain which use VTHO to broadcast transactions. Price of VTHO is so dirty cheap comparing to VET that its way better and smarter to buy VTHO since for the same amount of money you can buy more VTHO that will VET produce in lifetime. Someone says its like printer and money and you shold buy printer instead of money, but its not like that since that "printer" cant print unlimited amount of money, its desigend to print only 2% of money yearly and for the price of printer you can actualy buy "money" that will take 50 years to print it if you invest same amount of money in printer. Based on current prices and VeChain token economics I dont agree that at the moment VET is better investment from VTHO. Only thing that can make VET price higher long term is VTHO value so thats why its better to invest in VTHO short term. In order to see VET rise it must be lead by VTHO rise since it cant go other way around. Maybe the simple way to explain this is that VET is like stock and VTHO are like dividends but is it really that simple since holding VET does not actualy make you shareholder of the company? Only purpose of holding VET is to generate VTHO so in order to increase demand for VET we first need to see VTHO increase in value, not the other way around otherwise ROI will go even more down and who will invest money in model that gives you less then 2% ROI?! That just doesnt make sense to me. The white paper (section 3.4.3) says if the price of VTHO goes up, VTHO used for transaction will be adjusted in a way to decrease amount of VTHO used for transaction and that is the first step that will be taken before increasing VTHO generation rate which can only move the price of VTHO up so when someone say VTHO price increase will make transaction cost expensive its showing that they didnt read the white paper or they didnt understand it as well as the lacks a basic fundamental understanding of the two token system and the critical importance of VTHO price in creating value of the VET token. There are also other indicators that VTHO may be better investment from VET at this moment and thats why im thinking of using portion of my VET to buy more VTHO and when price go up i plan to convert VTHO back to VET before they increase generation rate. When you do some math and your investment is based on fundamental facts for the two token system instead of speculation and hype its actualy common sense, why buy only one cow and wait for milk if you can for the same amount of money buy more milk that will this cow produce in lifetime. There are also many speculative reasons why i belive price of VTHO will increase short term much more then VET. One of them is for sure Binance listing VTHO which can with only few BTC buy make price pump 10 times up. I disagree with speculation that VTHO can be traded on Lbank and OceanEx and that Binance will not be paid since there will not be real liquidity without Binance, only wash trading on exchanges like Lbank so VeChain must list VTHO on Binance if they want to create liquidity and value for VTHO in order to create value and demand for VET. Also Binance have wallets for VTHO and they already listed GAS and ONG so VTHO is by my opinion next. If the price of VET go up VTHO will follow since its logic that nobody wants a stock where dividends dont have value so I think VTHO is better investment at the moment at least until the numbers dont change but long term holding only VTHO without VET would be terible idea. I know most of when moon & lambo kids will downvote everything that they dont understand because almost all of us hold only VET not VTHO but isnt this a place where we can talk and discuss about everything to make better investment decisions? What I dont understand is why are people against investing in VTHO? Just 1 BTC buy can buy you 5,000,000 VTHO which is more VTHO that you will generate in lifetime with your VET if you hold 750,000 VET which can be bought for the same amount of 1 BTC.
Well thats pretty much it. I have really no idea what I am doing. That said, I have dome some research and attempted to get started. I have a few wallets as of now, some or most still waiting verification. I have setup at epay, paxful, cryptopay, binance, coinbase, and blockchain as of yet. I have an interest in some alt coins vs bitcoin but I assume more research in time will determine where I invest and start my new business. I have a little understanding on mining and the hardware used, I am aware of GDAX and some crytpos now being traded on the stock exchange. I see the trend in an upward direction and the IRS is now taking note, the new tax bill has some provisions regarding crypto trading, etc... So I feel it is really happening and the decentalization of money, fiat... is a good thing and a must needed step we have to take if we wish to continue our process of evolution. I have some questions though: I cannot use my debit card for coinbase because it determines it as a prepaid debit card. Now one is just that, a prepaid visa, I put a small amount of money on it just to get started. The other debit I have is from the federal government. It is an account I can wire from but I cannot wire to. It is not a prepaid account but coinbase determines it as such. I would like to find a way around this. Even though I see the fees and such with CB I still feel I want to get some expereince in with that interface. Im also aware that you can instead of using CB to buy btc, you can use GDAX. I like the looks of GDAX... and after getting my account made and verified with CB, I went to GDAX to login. I had to authorize my computer to login, and thus after I was given a notice on the login screen claiming my account was temperarily locked and that I had to seek [email protected]. So I went thru that process and after filing for request I received the confirmation of request and now I am waiting for them to get back to me. I used my android to make the CB account. Used a computer to use GDAX, did receive the successful authorization notice and reloaded page to login but was shutout. I know I can purchase btc from GDAX but not sure if my debit cards will work there, as with the issue with CB? I have similar isses with the other "vendors" or are they simply "brokers" ie broker and wallet... The paxful and blockchain wallets are up okay but I cannot figure out how to jsut buy btc at the going value noted on coinmarketcap. It seems like, I have to buy btc from a seller, and there are fees from them, and or a third party software or wallet, or broker... and I then can give my wallet address for the deposit. I get the very basic idea here? I had to send in my id, my pasport, my ss number, dob... lol address... these are crucial idenfying factors... I thought this crypto was meant to be anonmyous? What do I not understand? I have read some guides and watched tons of videos but don't think I am understanding it, now that I have a direct intention, or goal, idea, on how I want to use crypto, and that maybe the issue among other things? paxful for example. is a p2p trade platform, if my assumptions are correct. There, you can buy with debit, or credit, or a direct bank transfer, etc... even some with gift cards, but the small details kinda concern me. I had to get authorized and validated with paxful... but why then do i need to send a pic of my id, passport, write a note, and have the card in hand all in a selfie... if I had verified with the broker? Am I correct to consider paxful the broker in this case? the seller, the individual, is also charging a going rate on top of the actual value of the btc... so Im getting the feeling like, identity scam, theft, AND you loose money in the transfer... lol from usd to btc. At least having the risk of the theft and scam of my ID is enough to close the window and laugh out loud and think just a second, from an idiots perspective, this is no where near anonmyous, no where near safe... what the hell is this shit? I have to buy at one place, then exchange, then I can trade on a different platform, I need to have a hardware wallet so I dont get hacked... I mean ... this seems like a lot to take in all at once and I wish it didnt seem so risky. There seems to lack a one stop shop for common deals... I just want to walk up to an atm, put in cash and get a receipt with a number or code I can scan and it be added to my wallet, via hardware or software or online... I plan on using online or software with the very little money I decided to invest with at the moment but will be getting a hardware wallet once I understand better what is going on. Also, seems to be a lot of opinions on youtube etc... about likes and dislikes... and it really hurts prospective noobs who needs only the facts and the details so we can make a better choice starting out. I don't mean to be a critic here and not offer something in response that could help, I just don't yet understand this and I have decided to go in, but I really need a GREAT source of information for research, like videos for specific trades, sources, and means. I'm already discouraged, I set up several wallets, or what I thought was a broker to buy btc and trade on, but there are tons of limitations or transfers I have to do... and now all these companies have my sensitive information. I understand this is all a learning experience and I am not freaking out, :) I just need a little hand holding maybe for a few issues I have atm and once I get past that, I think all will be nice. I really like GDAX, and want to buy from there, but can I use debit... prepaid debit, and if not, where then can I just pay with prepaid debit straight to btc, and I am okay with then moving it to a waller like blockchain or binance. Im constantly looking for help with the basics, but am flooded with opinions on which is best to trade, and everyone saying HOW EASY IT IS TO BUY BTC ... okay, maybe true but there are tons of limits or redtape, or even fees... and with the sensitive info. it all just makes it a lil discouraging. Could use some help please. I would really appreciate it. Thanks. PS - just to note. The new tax laws... yea wtf... I think now maybe crypto may be such the risk its just not worth my identity and the problems with the irs... I have to report and track all transactions... is this why everyone needs my id cards pictures and selfie with me holding it, or whatnot? seems like a great way to get fucked over... for a few bucks. Looks like, crypto is dead. no anonimity, I have to pay all these fees, I now have to pay tax on EVERY SINGLE transaction... so its looking like its too late. and If I invest now, its just trouble. Now maybe a new trype of crypto will come out that will be of a different operation, name and function, so that IRS has to make new law for that, ... so that its not considered a crypto currency, because crypto, imho being the moron here, looks like it was targered and its initiative is lost. they did this to kill it. the US dollar is dominate, though I dont think its really is, and eventually it will fall, by design it is not sustainable. I want out... but IDK how to get in to the new without being a target by the IRS, and or having to play by their rules. we want out and the dollar will collaspe, I feel rather concerned and desperate tbh... its kinda scary. fuck the irs. and fuck you wallstreet. i wouldnt mind if you all made out big but with 9/11 and all that insider trading and the wars and wars, and wars,... the collasping of the housing economy... lol youre not even taking care of your own, how the fuck do you expect to survive much longer? its actually comical, retarded at best. if at least you groomed your front yard, maybe america could be great again.
Binance Coin is a cryptocurrency used on the Binance blockchain – specifically, the blockchain’s main (but not its only) token.. Binance, the company behind the blockchain, is known for being one of the largest crypto exchanges in the world and also for being one of the main drivers of innovation in the field.. The token has been live since just 2017, and over that time, it has found its ... It is weird how the news of a publicly-stated company buying $425 million worth of Bitcoin didn’t move the market as expected. Then again, the question remains, “why did the buying not affect the price?” One thing that's been bugging me is that Micro Strategy bought $425 mil and price really didn't go up much. I'd honestly expect price to do anything but randomly drop/chop sideways after ... On Wednesday, Bitcoin logged a supersonic bull run, hitting $13,000 for the first time in 15 months. The rally started after PayPal announced its foray into the cryptocurrency sector, leading analysts to believe that the $138 billion global payments firm drove the latest Bitcoin adoption. But at ... Binance Review: What is Binance? Binance is an exchange that hosts crypto-to-crypto trades.This means that they do not accept real-world money, such as U.S Dollars (USD) or Euros (EUR).The exchange was first created in 2017 and was originally located in China. However, as cryptocurrency laws are very strict in China, the exchange has since moved to Japan, a country that loves digital currency! According to Crypto Head, most Bitcoin investors who have lost money didn’t conduct proper research. Just like in any other investment venture, you should have all the facts straight before getting your feet wet. Below are important tips for new Bitcoin investors. 1. Research. Bitcoin trading has been here for a few years now, and a lot has changed since its emergence. If you are just ... Investors buying bitcoin today are betting that the future use cases built upon these core capabilities will be larger than the current market cap of bitcoin. It is easy, in my view, to see how ... Why do people still invest in this? Bitcoin is too slow and volatile to be adopted as a widespread currency. A stablecoin would be used if crypto were ever used as currency. Its "digital gold" value is pure speculation and hinges off of mass adoption (unlikely). Ethereum and Link offer actual utility value (smart contracts). Even if Bitcoin rises in value, ETH and LINK will rise with it ... [ October 22, 2020 ] Collider Labs Raises $1M to Invest in Blockchain Startups Crypto News Search for: Home Bitcoin For Beginners Binance: How To Use Binance Exchange to buy Bitcoin & other Cryptocurrency Beginners Tutorial Guide Binance: How To Use Binance Exchange to buy Bitcoin & other Cryptocurrency Beginners Tutorial Guide . April 12, 2019 admin Bitcoin For Beginners 29. This video is for ...
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