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Topic: It's hard to admit, but I was wrong about Bitcoin (Read 572 times)

full member
Activity: 630
Merit: 200
I, myself was also wrong with bitcoin before. The only difference is that I chose to study and eventually learn the potentials of bitcoin, so it’s not surprising why we are seeing its price going to the moon currently. However, this is not the end for him, nor his opportunities to enter bitcoin investment. As long as he isn’t in a rush for profits, he will definitely gain success after years of investing patiently.
The time bitcoin was introduced, so many persons doesn't know that bitcoin investment is good and thats why they kicked against bitcoin, so at this time you don't need to study bitcoin before you hold bitcoin, because once you purchase bitcoin and hold it for long time you will surely make once bitcoin rise, what you will learn concerning bitcoin is when you develop the interest on trading, it's trading that will make you to learn more, but holding of bitcoin doesn't require you to learn the potentials or not, because two factors is involved in holding of bitcoin, neither you hold bitcoin so that when it appreciate then you make profit.
Yes, that's right. When bitcoin was first introduced, many were skeptical about the future of bitcoin and now those who were skeptical now have to regret it. Likewise now many are still skeptical about bitcoin because they do not really understand bitcoin technology well. So make the best decision for bitcoin so you don't regret it later.

Sure, many regret investing in btc now, but what needs to be known is that it is never too late to start entering the blockchain world. I believe what people here say about fiat money will disappear and be replaced by blockchain transactions is real and certain even though there are currently those who do not believe it but try to open your mind again now many countries are starting to be interested in adopting bitcoin. Investing in bitcoin does not require much strategy you also hold it until your target is achieved. don't forget to do DYOR.
legendary
Activity: 1778
Merit: 1009
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They have disregarded the community of crypto, they ignored what we have been through especially the technology behind bitcoin. If you've at least checked what's behind the cryptocurrency, how good the blockchain itself, you will clearly get invested how these things work.

The community is organically growing from just a small community like this one forum, it's not a cult or whatsoever that we believe on something that is non-sensical. So, if they haven't really believed from the beginning and have regrets ignoring btc, I think at some point, the person is at fault. If you're targeting financial freedom, I know crypto is one of the suggested and recommended assets but with risks.
hero member
Activity: 3080
Merit: 603
Well, it's not too late for those skeptics and pessimistic folks that have bashed Bitcoin for a long time. The market is open and everyone can join for as long as they want to be. There's no need to remain into the dark side when it's too obvious that our best bet, Bitcoin, is doing it. Those financial experts and the wealthy ones that have said a lot of bad things about Bitcoin are now obvious as well that they've just done that for the sake of clout and sending panic to people so they'd sell and make the price cheaper and so they can take all of those.
hero member
Activity: 1778
Merit: 907
More & more of these mainstream media & traditional finance people will have to admit they were wrong & worship at the altar of the apex predator of financial instruments aka Bitcoin soon enough. It’s never too late for anybody to admit they were wrong to doubt Bitcoin & begin to start buying. Plenty will double down & deny themselves financial freedom by rejecting Bitcoin though. You can’t save everybody unfortunately.
At least some people are admitting it, others continue to tell their tale of how Bitcoin is a bubble about to burst. Remember this, they'll be shouting at the first market crash that's going to happen in the future, yapping about how right they were and it's going down. I also admit I was wrong, I underestimated its capabilities, doubting that it would surpass $100,000 within 2024. It seemed so distant, and I would expect it to happen anywhere in 2025 or early 2026. Even Trump changed his views, even though I don't recall openly admitting he was wrong in the first place.
hero member
Activity: 2856
Merit: 644
https://duelbits.com/
Many theories are actually wrong now especially by hailing Trump for being considered successful in lifting bitcoin to this point when in the end even though he did create a bubble with his political promises to get elected but in the end the movement of bitcoin whether or not Trump is here will still be the same as usual and I don't think it's too ethical to make Trump like a meritorious person to lift bitcoin when we know that in the end he is just one of a handful of people who make bitcoin a hype and fomo for the people around him especially for those who only follow just because the leader is in crypto especially bitcoin.

Indeed, we must admit that the Trump effect affects but in the end this is only a small part of the bitcoin movement because what needs to be considered in this case is the presence or absence of Trump in bitcoin in the end bitcoin will still move according to what we believe for this period.
member
Activity: 84
Merit: 30
I love the fact that he accepts he's wrong and he's able to day it out
It takes a real man to do that
But besides that, I still feel he has not totally grasped what bitcoin is capable of
According to his post, he is trying to say that bitcoins' growth is due to trump
I understand trump played a significant role in the exponential growth of Bitcoin, but the fact still remains that Bitcoin would have still hit a 100k. Although it would have taken longer but it was inevitable

And until he can understand this, he won't fully understand Bitcoin
hero member
Activity: 1666
Merit: 723
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I, myself was also wrong with bitcoin before. The only difference is that I chose to study and eventually learn the potentials of bitcoin, so it’s not surprising why we are seeing its price going to the moon currently. However, this is not the end for him, nor his opportunities to enter bitcoin investment. As long as he isn’t in a rush for profits, he will definitely gain success after years of investing patiently.
The time bitcoin was introduced, so many persons doesn't know that bitcoin investment is good and thats why they kicked against bitcoin, so at this time you don't need to study bitcoin before you hold bitcoin, because once you purchase bitcoin and hold it for long time you will surely make once bitcoin rise, what you will learn concerning bitcoin is when you develop the interest on trading, it's trading that will make you to learn more, but holding of bitcoin doesn't require you to learn the potentials or not, because two factors is involved in holding of bitcoin, neither you hold bitcoin so that when it appreciate then you make profit.
?
Activity: -
Merit: -
Ha!

The guy at work who laughed at me for buying BTC back in 2012 is still working.

I retired early two years ago as a direct result of my BTC holdings.
I think we all know a guy like your coworker. A female friend once tried to assure me that bitcoin, crypto and any trading in general is a scam and ordinary people can't profit off it. A couple of years prior, I made 3x with bitcoin. Tongue
I admire you. Your retirement is a reward for your curiosity about bitcoin, crypto and technology and general. Many people would like to be in your place, including me.
legendary
Activity: 3304
Merit: 1617
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More & more of these mainstream media & traditional finance people will have to admit they were wrong & worship at the altar of the apex predator of financial instruments aka Bitcoin soon enough. It’s never too late for anybody to admit they were wrong to doubt Bitcoin & begin to start buying. Plenty will double down & deny themselves financial freedom by rejecting Bitcoin though. You can’t save everybody unfortunately.
hero member
Activity: 980
Merit: 585
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Some times these market analysts are blinded by so many factors that have happened in the past and tend to overlook the potential some digital coins have. For someone of Tony's calibre, having 25 years experience in financial markets should have helped him see that Bitcoin isn't just a Ponzi scheme or what someone created to pass the time but a digital coin with the ability to provide a form of security when conducting your transactions.
 Bitcoin has been going strong for 16 years and has surpassed expectations and it's okay to admit you were wrong for regarding as something that doesn't have value and won't last long but what step is he taking? Will he join the train or just sit back and regret?

I guess these misconceptions against Bitcoin will subside now.Bitcoin is no Ponzi scheme and it's often marketed and referred to as a PONZI SCHEME.Same Coin experience that has literally been on and on for several years ago and today it's still retains and it's retaining the most influential and recorded most used cryptocurrency around the globe.
jr. member
Activity: 28
Merit: 37
...theoretically it could be solved with a stay in Monaco or a similar destination for how long?

It all depends on your home citizenship. For example, U.S. citizens are obligated to report and pay taxes on their worldwide income.

You would need to consult a good financial advisor to determine if this could be legally bypassed without renouncing U.S. citizenship.

As for the requirements: you need to spend at least 6 months + 1 day per year in Monaco (not necessarily consecutively), deposit €500,000 in a local bank, and obtain a "Carte de Séjour," which is similar to a green card.

I've been to Monaco several times. It's nice, but in my opinion, not nice enough to spend so much time there. However, if you’re determined to avoid taxes, well, that’s one of the options.

Currently, I choose to pay taxes in my home country and enjoy the freedom to go wherever I want. I would only consider this option if my home country created problems for me, such as insisting I disclose my wealth or accusing me of involvement in a money-laundering scheme.

Of course, zero tax is not entirely accurate, as you pay a lot to live there. However, if you have substantial wealth, it is certainly worth it.

/Over&Out.
legendary
Activity: 3094
Merit: 1127
the guy is still wrong and still doesnt understand bitcoin

bitcoin is not rising in price due to fake-tan-trump



Actually this is something a very basic thing for those new people to at least know that there's no such fundamentals or things that in relation to this will really be that a solid factor or reason on why Bitcoin had increased its price. Everything is really that because of the recognition and adoption on why these prices are moving upwards but we do know that it isnt really that a smooth sail ride when it comes on breaking new all time highs.
Regrets do always come at the end and not on the beginning on which those initial thoughts on which we do think that we are right but ending up on having those missed opportunities just because we do follow our intuition on which i could say that it isnt really that bad either. When taking up opportunities then risks will really be always that a part of it and if you are someone whose really that afraid on taking up some risks
and wanted to play on the safer side(not actually safe) then it will really be just that depending on you. We all do make mistakes or simply cant be perfect and this is why we do missed out opportunities
but doesnt mean that you cant be able to make investment as of this moment. There's no such thing about being late or we do have that saying that its better to be late than never.  Smiley
legendary
Activity: 3234
Merit: 5637
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~snip~
In the worst-case scenario, if you have a significant amount and your tax office causes trouble, you can take an extended vacation in Monaco and pay 0% tax on your gains.  
 

I see that you have prepared well - so even though I am at least somewhat familiar with various "tricks" to avoid paying taxes when it comes to cryptocurrencies - specifically if I have, say, 10 BTC and I can't/don't want to prove their origin, theoretically it could be solved with a stay in Monaco or a similar destination for how long?

Of course, there's always the option of "holidaying" in El Salvador, but I'm not really one of those who's crazy about surfing and similar things.
legendary
Activity: 1988
Merit: 1109
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I feel offended when people completely give credit to Trump regarding the new ATH for Bitcoin
If Trump isn't the catalyst, then what's causing bitcoin's price to rise so quickly? Also, bitcoin wasn't the only asset that surged in price following his victory. The US stock market also increased very well because they also put their faith and expectations in Trump's victory. They believe that the national and world economies will be better under his leadership, so his election has created positive market sentiment.

There is something this guy still needs to understand regarding Bitcoin before he goes around creating a buzz on the internet. Bitcoin supported Trump to win the election not the other way round. It was a result of the majority who wanted to see the progress of Bitcoin based on the political promises that made them support Trump.

There is no denying that bitcoin investors contributed to Trump's victory because every vote is a chance for Trump to win. But you need to know that not all voters are bitcoin investors and US citizens care about many other issues besides bitcoin. They voted for him because of immigration, taxes, inflation, war...Bitcoin was not a major factor in the election.

In the short term his impact was felt after he won, but with or without him the price was literally going to see a significant rise due to its cycle (halving period).

However, a lot of encouragement for whales and new bitcoiners came as a result of Trump's wins

Bitcoin broke its ATH and surged to $73k before the halving, showing that the halving is no longer the sole factor determining Bitcoin's price increase.
hero member
Activity: 1008
Merit: 960
~snip~
Do you have side hustles in the meantime or do you just chill for now?
Curious to know what people do after staying on the good side of the story  Cool

My plan is to actually never stop working, it's just that I would be working on whatever I want to do, instead of having to do something that someone else thinks its relevant.

Actually, many times I think that the startups are crazy and have no future, but as long as they have money to pay for me, I'll be happy to help them as much as I can  Grin

Hopefully for not too long!, counting the days!
copper member
Activity: 196
Merit: 6
Ha!

The guy at work who laughed at me for buying BTC back in 2012 is still working.

I retired early two years ago as a direct result of my BTC holdings.

Do you have side hustles in the meantime or do you just chill for now?
Curious to know what people do after staying on the good side of the story  Cool
hero member
Activity: 1008
Merit: 960
Ha!

The guy at work who laughed at me for buying BTC back in 2012 is still working.

I retired early two years ago as a direct result of my BTC holdings.

That's great.

I think it's good that you mentioned Bitcoin to people, it doesn't matter what they did with that information.

Most people will probably ignore it and never do anything with it, but it is better to have shared the information than just keeping it to yourself.

A lot of people were not sure about Bitcoin so they never said anything about it.

I think the more people talk about it the more wealthy people will be generated over time.
jr. member
Activity: 28
Merit: 37
~snip~
This is why I have chosen Monero for my holdings. I feel much safer when the government does not know how much I have (and I didn’t acquire it on a KYC exchange).

They only know how much I sold in a given year, and from that, I pay taxes.

/Over&Out.


First you buy something without KYC and without the state even knowing you bought it - and then you sell the same thing (I don't know how) and pay taxes? To pay taxes, you probably have to show them proof of incoming and outgoing transactions, which then completely nullifies any anonymity you achieve in the first step.

I never had to show any of my wallets, but I have one prepared in case they ask.  

1. Send XMR from the main wallet to a proxy wallet.  
2. Send XMR from the proxy wallet to an exchange (whichever one you choose).  
3. Sell.  

If the exchange or your tax office requests details, you provide them with the view key or printouts of the proxy wallet.  

Source: Mining in the early days. You’ve transferred coins from your old wallets to this new one for security reasons.  

If they want to accuse you of a crime, they’ll need to produce evidence.
They cannot force you to reveal your other wallets-you might not remember them, or you might reveal them one by one when you decide to sell, each containing only 5 XMR. You get the idea.  

This strategy, of course, only works with Monero. Other projects are complete failures when it comes to privacy and fungibility.  

In the worst-case scenario, if you have a significant amount and your tax office causes trouble, you can take an extended vacation in Monaco and pay 0% tax on your gains.  

If you hold a large amount and they cannot seize or even see it, they will always lose. Just hire the best lawyer in town and watch them crumble-I’ve already done this in different cases.  

Everything I’ve written here aligns with the law, even if it doesn’t align with their greedy, unscrupulous intentions.  

If you use a transparent asset, they can impose a penalty as severe as your holdings, and then it’s GAME OVER!  



Only Monero provides true freedom, which is why governments fight against it and promote Bitcoin-it gives them absolute power over you.

/Over&Out.
legendary
Activity: 948
Merit: 1026
Ha!

The guy at work who laughed at me for buying BTC back in 2012 is still working.

I retired early two years ago as a direct result of my BTC holdings.
sr. member
Activity: 546
Merit: 447
Fine by Time
I feel offended when people completely give credit to Trump regarding the new ATH for Bitcoin

There is something this guy still needs to understand regarding Bitcoin before he goes around creating a buzz on the internet. Bitcoin supported Trump to win the election not the other way round. It was a result of the majority who wanted to see the progress of Bitcoin based on the political promises that made them support Trump.

In the short term his impact was felt after he won, but with or without him the price was literally going to see a significant rise due to its cycle (halving period).

However, a lot of encouragement for whales and new bitcoiners came as a result of Trump's wins
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