Topic: If not for Bitcoin - page 4. (Read 695 times)

Bitcoin is still not recognized and legal globally, there are still many countries that have not recognized it and even many countries have issued bans on it. Furthermore, if you think everyone should use bitcoin and completely eliminate the government's centralized financial system, do you think the government will legalize bitcoin for us to use? They are not stupid enough to let people freely use bitcoin and leave the centralized banking system they have built over thousands of years.

Bitcoin brings innovation in the financial system but will not be able to replace the entire existing centralized system, both will coexist and grow.

Centralized exchanges and lending and earning platforms have been failing for a long time, do you remember Mt. Gox? You should have zero faith in any centralized exchange, and take note that they do not care about BTC as many people are made to wrongly believe, they only care about making money through their fractional reserve scam.
What new technology does Ethereum and xrp bring to the crypto industry, these are two centralized shitcoins that do not have any usefulness. Monero may be the only altcoin that is actually useful.
Never put all your eggs in one basket is a good advise, but take note that if you are investing in BTC and altcoins your eggs are in one basket because they are intrinsically linked to one another, diversify by investing in BTC and assets that aren't intrinsic, like gold, real estate, etc.

I understand, and you're not alone. Many are cautious of altcoins. However, not all altcoins are scams. Ethereum and Ripple provide new technology and ideals to crypto. I agree about the sentiment-driven market; Bitcoin is everyone's big brother. Everyone moves when it does. But why? Is it sentiment or more?

Imagine if every coin had sentiments. Would the market be stable or chaotic? Bitcoin is powerful while being decentralized. I advise you to diversify, investigate, and never put all your eggs in one basket, even if its flashy and called Bitcoin.

We can't compare Bitcoin with an altcoin. Bitcoin will not collapse, but altcoins will. We may see the volatility, but we won't collapse like Luna. When something goes wrong in the crypto industry, like an exchange collapse, it does affect the Bitcoin price. Though we can't secure the price, we may secure our assets by avoiding storing crypto on exchanges. So when Bitcoin recovers, our funds will recover as well.

Another coin or not, the outside world had a habit of generalizing every cryptocurrency as "under bitcoin" whenever issues like this come up. Luna was the first strike in the barrage of undesirable events that lead to the collapse of 2022. Bitcoin was seriously affected too as this was precisely the period when bitcoin fell from its comfortable 50-60k spot to the 40,000s and right now well under 30k with no good signs of ever getting back up to its former glory until the next halving. Its mishap indirectly affected the market and the outlook of the people, especially those who are not that accustomed to the bitcoin environment for good, with most of them jumping ship.

Bitcoin is the king of crypto, and always will be.
With various evidence of the conditions that have been experienced by the crypto world, Bitcoin continues to run as it should, through all the FUD that is being spread, even though there is a lot of negative news that has occurred, there are many scams and frauds in the crypto business, Bitcoin remains at the forefront and is trusted. Bitcoin is decentralized, and we can each use it ourselves. With various things that have happened, such as the cases given by the OP, in fact there have been many other very large scam cases throughout previous crypto history, Bitcoin is still able to survive and get through it.

So many critics has expected Bitcoin to fail like ftx and the likes that later crashed or were scam schemes to just cart away with peoples money. Bitcoin has however not disappointed yet. Eyes are still on the forthcoming halving to know if BTC will survive and I can assure that it will supercede all expectations.
The fact that BTC has not failed is also a very good reason why other altcoins and exchangs  keep firing on and try to maintain a healthy competition by improving and making upgrades to enable customers and those who have trust and investment in them, enjoy great quality of service.

It has been always like this in crypto industry since the beginning. The difference is that on the early years scam schemes were more anonymous, didn't have large advertisement and endorsement by popular influencers and celebrities. Scammers have been always present in crypto market, luring BTC investors into giving them their BTCs in exchange of volumous, easy and guaranteed profit which end never coming. Unfortunatelly it's possible that many of those scammers have their wallets replenished of Bitcoins they stole until nowadays, what means they still take advantage of the fact Bitcoin stays strong above the 27,000$ line.

Bitcoin is the solution to many people's financial challenges, but it's such a pity many are yet to identify this out despite the advanced awareness that has taken bitcoin into a globally recognized cryptocurrency, we cannot continue with the use of the same financial economy and system under centralized Institutions for life, bitcoin is the game changer and the world is happy to embrace the same opportunity with bitcoin, it gives the financial change we want in our economical lives.

Altcoins equals scams. Most of them that are available now is a scam in a way. So that's not a big surprise, is it?
Fall off centralized exchanges? It is centralized, so those even does make sense. If you give the access to your assets to a centralized back from, something like that was meant to happen. So that's not a surprise either.

Even right now, SEC is going after Binance. They have blamed many altcoins for security, but only left Bitcoin out of the list. And why is that? Because Bitcoin is decentralized. This is all that mattes.

I agree with this statement that Bitcoin has carried over the whole crypto market on its shoulder to this point. Because the whole market runs on sentiments. If Bitcoin moves, then other coin moves too. Not because they have any connection to Bitcoin, but the sentiment attached to Bitcoin create the market movement. Bitcoin does play a great role in the crypto market.

News events, including occurrences like the FTX bankruptcy, often seem to have a limited impact on the crypto and Bitcoin markets. This is because the market operates on algorithms rather than being solely event-driven. It's fascinating to observe on the Depth of Market (DOM) how prices don't always follow orders but adhere to algorithmic patterns.

Cryptocurrencies are advancing on a next-generation system, an update that has been long overdue since the 1980s. Bitcoin's enduring presence, free from VC involvement or presales, underscores the organic nature of its adoption.

Bitcoin and the underlying system hold tremendous potential for revolutionizing our payment systems, paving the way for future developments.

WabiSabi coinjoins do not leave any traces.  Common input ownership and change is eliminated.

We all wish we can predict the future, we didn’t expect to see FTX becoming a scam and all the events that happened in the year that affected the price of Bitcoin price. The media made sure they did everything they could to make the FTX scam look like a bitcoin scam. But I disagree with the last one, Luna had no effect whatsoever on the price of bitcoin. It’s quite the opposite because altcoins follow the movement of bitcoin, so if bitcoin dips, altcoins dip even more significantly.

Financial suicide? What if you don't have capital to invest in Bitcoin? Should you kill yourself or go the extra length to get money by all means just to invest in Bitcoin? It is good to have Bitcoin, but have money first before thinking about it.

All that you listed is centralized, and if you keep believing in centralization, such betrayals will keep happening due to selfish interests or human error.

Bitcoin stands out because of its decentralized nature. Had it not been decentralized, the crypto world would have collapsed by now, full of scams and untrusted projects that are centralized.

Invest in Bitcoin to avoid any other stories related to hacks and the collapse of any project because Bitcoin is transparent.

If the bitcoin was not today, I can confidently say that the cryptocurrency today would not be at that stage. Bitcoin previously was at its top when it was above $50k, but when the time came it went less than $30km, people didn't lose hope and they thought that this would be a better time to buy bitcoin. As they already knew the bitcoin price it will never leave its Hodlers. Also, we all know that bitcoin has a specific structure that no other coin has.
The word you mentioned for suicide didn't suit here as I can say there are many other financial ways through which we can get more opportunities of earning. The thing that matters is we should never lose hope, and we should try again if we fail in something.

What do you mean by financial suicide? Not having bitcoin is not the end of the road to greater financial life but having it early will have speed that for you. Who know] what would have happened if you had the opportunity to get some early, perhaps you will have sold all of them for something else, just saying.


The list you mentioned above are centralized teams, nothing spectacular about them.3AC were venture capitals, not sure if they are still but use to buy into altcoins with millions of dollars and pump the hell into this altcoins and when they pump, they gradually sell and remove their money leaving behind the small rabbits that are looking for small money to make a living.

They all chew more than what there mouth could handle and you see all of them, they were related in theft, use customers money, FTX is the leader and they were all involved in that heist that lead to the collapsed of Bitcoin in 2022, they are not related to bitcoin and they have nothing with bitcoin, I don't understand why you mean if not for Bitcoin with these companies.



It's looking strong but we need confidence, after what happened last year. Many trust has been broken from altcoins and they all paints that in crypto and bitcoin not knowing that Bitcoin and crypto are two different things, they chose shortcuts that is very harmful but if you advice them, they will never listen. Many are sidelining waiting for quick pump to make their money back and exit quietly.

You are right, but the thing is, you are starting from the child roots, which means you said if there was no BTC then due to the above scams and bankruptcies we would be gone. I would say those bankruptcies came into being due to the creation of BTC. BTC gives birth to all these coins and tokens. The first Alts and forks of BTC were made with the help of BTC technology. If we see from an angle then BTC created these projects.

Well, coming back to the discussion, I totally agree with you that, even if there is a child and parent relation but these children came with different characteristics which led them to an end and caused many investors a huge loss.

We should also not solely depend on BTC and should diversify our funds. Just open-minded advice. Of course, bitcoineers might not agree with me but believe me, diversification is good.

If bitcoin hadn't been created there would be no cryptocurrency industry, so it's no surprise that without bitcoin everything would completely collapse. I think anyone involved in this market knows this even if they are an investor in those damn altcoins. The importance of bitcoin is undeniable and it will always be so even as the market gets bigger and bigger, bitcoin will always be the mainstay, the great father of the entire cryptocurrency industry.

Centralised business collapsing has no relationship with the cryptocurrency. It is just one of their products on which they have built their business upon. They could not run it because of their own faults and collapsed eventually. That's a very frequent incident in business world.

I believe criptocurrency investors are mature enough to understand the difference between cryptocurrency and the business built around it. Cryptocurrency will stay as it is and we are just seeing a market which is just around 15 years old.

Having a little bit of bitcoin wouldn't hurt you and I believe it would bring people joy whenever they profited on it, as long as they know what they are doing. Always consider the benefits along side with the downside of it. I somewhat sort waiting for something big when still we are on the bull market, something big that can be a sign for me or a trigger for the bull market. After one big flop or scandal in crypto during the bull market will eventually snowball until we realized that we are on the bear market. It obviously happened real quick last bull market.

As long as you are smart or know why you have bitcoin will eventually make you happy.