Bitcoin - way to invest

Slightly outside the box, but has anyone received their free bitcoin from Papa Johns yet?

They’ve got a deal on where you get 50% off when you spend £30 or more, and £10 in bitcoin courtesy of Luno.

A mate did that, he hasn’t got his also.

Here’s a video please watch it :pray:

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October 2021 is a pretty good date to go by, however this times things are different with the type of money involved. We didn’t have PayPal, Visa, Ebay, Tesla, Baba, Facebook (next week) and institutions around the world pilling billions into it. So whilst there will be a bear market I can’t see it pulling back as hard.

Overall cryptos market cap is only 2.6 Trillion which is nothing, its still the very beginning. Gold is about 10 Trillion, Stocks about 90 Trillion.

Crypto is very much here to stay. Good riddance to the banks.

Crypto is one of those things that until you dive in and understand blockchains, it feels like a get rich scheme thats ready to pull the rug at any time.

So much FUD mostly spread by banks, the recycled stories tend to be about environment and money laundering and how Bitcoin will never be used for payments.

Short answers

80% is renewable energy using excess energy that can’t otherwise be stored. It’s not having any impact on other energy usage or draining the network.

Nearly all blockchains are public records which are easy to trace, if you going to launder money then using HSBC is still the preferred method.

Bitcoin is a store of value at this point, the same way you don’t lug a bar of gold into Sainsburys to pay with. Its transfer is slow, and fees and volatility are high. Its possibly one of the worst choices.

There are blockchains dedicated to solving specific issues so you want one of the alts that has high transfers and very low fees. Monero and Nano and Luna would be three examples.

With alts you have blockchains like ETH, DOT, ADA, SOL, AVAX, ATOM etc that are competing.

You need have projects that are designed to work on one blockchain or multi projects providing additional capability. MATIC is hot atm.

You have LINK and BAND which are the two main oracles that ties to the real world.

You have utility tokens like BNB used for Binance and CAKE, and UNI which is for ETH

You have specific ones that solve a something like video stream THETA or file storage FIL and STORJ

Theres a whole world of decentralised finance

You have gaming like ENJ

And a whole world for NFT, basically anything that is a one off be that trading cards to event tickets to artwork.

You then have a WHOLE bunch of shitcoins. Thousands. They are copy+paste of other open source projects where you need to think of a funny meme to ride on.

These SHIB and DOGE are the OTC penny stocks of the cyrpto world. Pump and dump, pump and dump. The only difference is billionaires and whales can freely dick around the price without the SEC handing them billions in fines.

So crypto and stocks are pretty much aligned, other than crypto runs 24/7.

Basically you want your money spread over multiple assets and crypto is here to stay.

Just don’t throw your life savings into SHIB like you wouldn’t with HCMC

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Ok but sources I’ve looked at are more prominent also this doesn’t detract away from the fact that bloodcoin exists and the majority of mining is China. Furthermore once China and India ban crypto which they will and yes they will find a way of doing it effectively you’ve lost half the world’s population and can’t trade it with what will be the world’s largest superpower so it’s worthless.

CCP wants full control of its society and wants to remain the largest distributor of debt to leverage its power on the world. Debt trapping is how you conquer now this is how colonialism works. Wake up.

If you watch that video it tells you about where most of the known mining comes from. :sweat_smile:

Whilst India’s banks want to do their best to halt crypto the NPCI has told them to do one. The threats are FUD can be ignored.

You need to understand that crypto that will be used for payments will be using alts that use a proof of stake method of using validators instead of mining.

Mining is a Bitcoin issue in its PoW.

Bitcoin /= Crypto

in the same way

Apple != the whole stock market

DeFi and DEXs are the future, there won’t be a central authority.

Known in what sense? Like Forbes knew bill gates was the richest man, not Gaddafi or Putin?

Plus without a central authority then you operate completely laissez faire and you have no power of exchange. Why would anyone want this?

Known as in the locations are publicly known as where most of the mining is originating. We are talking like 90%+ is known. But we don’t know if Bob who lives in your street has a mining rig

Like the deaths in China and Covid lol

:man_facepalming:

ok lets leave it there. :neutral_face:

Just looks such a bubble, I type t-rex coin as a joke and it exists…

In the same way if you go to here theres 22223 projects where 22000 of them are garbage that can easily be pumped by telegram/discord groups/reddit with enough followers.

https://www.otcmarkets.com/market-activity/current-market/ALL/active/dollarVolume

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I just don’t buy it, seems stupid. People trying to find a fix for an issue that doesn’t exist. Whatever method you pick crypto or fiat they will always have their problems. Same as left or right in politics there isn’t a fix.

What if I accidentally send someone a bitcoin how do I get it back?

Lose your password lose all your wealth?

Can I see who sent me my money?

Bitcoin is a digital store or wealth that you can compare to physical Gold, it’s not solving a problem, its value is in that people agreeing it has value gives it value.

You don’t.

Thats why you save your seed securely so it can be recovered if you store in cold wallets.

If you have funds on the exchanges like Binance they are SAFU, and you’ll need your ID to recover your account.

Yes in nearly every blockchain. Monero being an exception with its emphasis on privacy and ring signatures.

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You’re wrong here. Gold is conductor and a physical commodity that can be used in other applications.

Bitcoin and gold are nothing alike. Myth.

And this crypto system is great and user friendly for the elderly, those with dementia and those without access to computers? Rubbish.

Or am I wrong?

Yes, but hey thats my opinion. :sweat_smile:

I have stocks, I have crypto. :man_shrugging:

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Ok, good argument though. Thanks for your comments I’ve learned a bit more.

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No worries, I’m not trying to convert you just thought I’d give my side and knowledge I’ve soaked up so far. It’s a worth dipping a toe in even if you aren’t fully convinced imo. That video I linked, Coin Bureau has decent vids, also check out ‘Young And Investing’ and Lark Davis channels.

For the record I absolutely hate DOGE and SHIB and other shitcoins.

Elon Musk doesn’t help the Bitcoin/crypto cause by playing with DOGE. Hopefully once they get burnt then they’ll go into the actual serious projects.

They are a plague in the same way GME just fucks over the markets. Some retail get rich, but the vast majority lose out.

Edit: Just posted by Grayscale :thinking:

I think a lot of no-coiners are generally a bit salty with how much money has flown into crypto, and stocks have been dead for the last quarter.

Even if you didn’t play the mid/low cap alts and went with steady ol’ boring ETH then your laughing in this bull cycle.