Bits.ca – Bitcoin & Crypto Currency News & Resources

Bitcoin has officially reached 28k after some bloody months. Fun fact BTC reached 28k for the first time on December 27, 2020 to reach a a price of 69k in the future. That being said as we all know after the fall from 69k the gates of hell opened and red covered crypto market for months and months. Bears and Crypto Haters had been waiting a lot for that to happen and they were ready to strike crypto and it's community with their anylisis ,fud, and price predictions. A lot of them, well most of them predicted a price of 14k - 10k would be the bottom. I remember even Richard Heart was boasting about how he had called the top and his prediction for the bottom was 10k. Well now he has deleted it. A lot of others so called crypto experts and analysts believed the same, i guess nowdays everyone is a crypto expert. Well that same people now " Bears " are still waiting for that 10k to happen. Let's pray for them as their soul fades away slowly watching BTC rise. Remember to always DCA and never try to time the Market. submitted by /u/UnkownMillionare [link] [comments]

submitted by /u/BithloKing [link] [comments]

Saying Bitcoin can achieve $1mln price in 90 days is pure hopium, stupidity or even worse just a manipulation. It is impossible, and by impossible I mean not just hard to do, straight impossible if you have even slightest knowledge about general economy and crypto market caps. Here is some math: Now BTC marketcap is bit over 540 bln with current price $27.9k, so to achieve $1mln we would have to do x35.84 in less than 90 days. Is doing almost x36 in 90 days in crypto possible? Sure with small caps even x1000 is possible, but they go from few thousands to millions dollars marketcap, not from billions to trillions. You remember million vs billion seconds quote? Millions seconds ago was 12 days ago, billion second ago was 1992 (31 years ago). Let me add that trillion seconds ago 31,700 years ago. So trillion is unimaginable amount of time or in our case money. 20 trillion is x20 times more than that... If BTC would do x38.84 it's marketcap would be 19.35 trillion dollars. That woud mean necessity to find somewhere 19.35 trillion dollars... According to the Bank of the International Settlements from year 2021 whole cash on earth is equal to just 8.28 trillion dollars... So you want to invest all cash on earth and non existing 11 additional trillions into BTC. Congrats you outdone even the Fed, they just wanted to print 2 trillions, you want to print 11 trillions. Ofc having market cap bigger than amount of cash is possible, for example whole stock marketcap on earth is worth 83 trillions, but most of those money aren't real, just valuation based on companies and things they produce and hold. Typical company stock share is based on P/E (price to earning ratio), which basically mean stock shares price is multipled in comparation to yearly profit. Usually average P/A is 15 to 25. Which historically mean stock companies value is based on x15 to x25 of current yearly profit. Current P/A on avarage in stock market in march 2023 is x23.2, so it mean those 83 trillion are based on next 23 years, not just now and here... With $1mln BTC you won't have P/A ratio, cause Bitcoin is not stock company, it's value is here and now, so $19 trillion BTC would in reality be much more than 83 trillion in stocks. Additionaly Bitcoin doesn't move alone, whole market follow him. $19 trillion pumped in to just BTC is impossible. Do you really imagine BTC pumping to $1mln while ETH stay at just $1.76k? What about other coins? According to CoinMarketCap current marketcap of whole crypto is 1.17 trillion dollars. 1.17 trillion divided by BTC's marketcap mean x2.16. So Crypto market cap is x2.16 times bigger than BTC marketcap, which mean to pump BTC to $1mln we would need not just $19 trillion but over $40 trillion. Even if we would magically assume BTC dominance would grow more, it still would still be at least 5 to 10 trillion additional dollars. Is $1 mln BTC totally impossible then? No of course not, inflation and printing devaluate money, $1 mln BTC in 10 to 20 years from today is not impossible by any means. But in just 90 days? No way. It never happened before and nothing suggest it will happen now except one guy making a silly bet and some people in crypto space repeating that cause they have no idea what marketcap is. Unless in next 90 days whole world including all 8 billion people and all 193 world governments adopt BTC nothing even close to $1 mln will be possible. So stop spreading false information or following your FOMO, instead listen to hard facts and math. submitted by /u/Nuewim [link] [comments]

submitted by /u/NobelStudios [link] [comments]

Many of this subreddit's users (me included) believe that MOON as a CryptoCurrency (ERC-20 token on Arbitrum Nova blockchain) has a lot of potential for growth in its Market Cap (MC = price * number of coins). I will address this potential from the aspect / narrative of MOONs being something unknown or nearly unknown to the general cryptoverse masses and thus when more of them get to see it, hear about it, more will want to either invest in it, use it, try it or learn about it. Possible short questions of narrative: r/CryptoCurrency Moons are quite unknown to the general cryptoverse joe. But how much unknown is it? Isn't it listed on exchanges and traded already? Aren't people already earning it via monthly distributions and thus MOON is available to everyone? Possible short answers: A lot. Yes. And yes. It is available, but not many know about it, partially because it is still not listed on many lists, websites or exchanges. 1. DEXes Moon can be traded in three "decentralised" exchanges (DEXes). 1A: RCPswap(dot)com It was the first dex (It seems down today, don't know if it still works) 1B: moon(dot)nano(dot)trade A dex to trade Moons for Nano. 1C: Sushiswap 3rd dex. It is now the go to option with a big MOON/E TH liquidity pool. Still Moons can't be traded in other Dexes, multichain dexes or aggregators. Two examples: "1inch", "OpenOcean". Of course it is also up to these dexes to add support for Arbitrum Nova but Moons are still not available everywhere. 2. CEXes Moon can be traded in two centralised exchanges (CEXes) 2A: Gate(dot)io 2B: MEXC Two ok exchanges with miriads of tokens and coins. Still the big hitters haven't listed MOON. There are rumours about Kraken enlisting it some time "soonish", but not a fact yet. Every listing of a coin in a single cex from the bigger ones, had some effect on price (for better or worse) during 2021 and 2022. Examples of some CEXes: Binance, coinbase, Bybit, Bitfinex, Cucoin, etc. 3. Market Watchers / Websites MOON is now tracked on both main Market Watcher websites: 3A: Coingecko 3B: CoinMarketCap But still, this is were MOON is still cherry-picked and thus quite absent from most pther similar sites. Point #3 is the one that magnifies this narrative. Websites and applications that "watch" the market, like cryptobubbles(dot)net or blockchain(dot)com haven't Moon in their search results. These two are just an example. Another android only app I am using, hasn't moons available. And probably there could be another 10 examples here. 4. CHATGPT and other bots Moons are also highly invisible to CHATGPT conversations in general and when talking about crypto / investments, unless you point any of these powerful chat bots towards Moons anyway. "Our MOONs are AI resistant.." (/s to soften a bit this narrative) 5. (MC) Market Cap Top coins 5A: 2000 5B: 1000 5C: 500 5D: 200 5E: 100 5F: 50 5G: 20 5F: 10 This is both an effect of not being listed everywhere (and generally of not having high traction, not enough interest in Moons as other coins) but also reinforces Moons' secluding state. ​ By CoinMarketCap, MOON stands in the ~3000 rank. So no tier achieved yet in this marketwatch site. By Coingecko, Moons just days ago standed at ~650, and since 3 dyas ago and at time of writing and posting this post, MOON was at ~557-590. So in this market watch site, we have reached tier #5B and closely eyeing #5C. Every time it even briefly reaches a tier from the short list above, more people will learn about it. Imagine all positive and negative aspects of MOON entering #5C top 100 coins. 6. Twitter Twitter cryptoverse are also still mainly ignorant. Just search for Moon posts there and see how little comments and likes there are. Imagine if weird cryptoTwitter "Experts" start shilling $MOON. Or even Elon picks up the meme or value... Thankfully, still not yet... 7. Other Social Media Instagram, TikTok and quite Youtube too. Not many posts yet. Yet... tldr; MOON isn't listed everywhere, it is somewhat still secluded, a nich small alt cap, thus it will/might be learnt by more people as time passes and thus its MC will grow significantly. ​ Disclaimer: I believe that MOON and r/CryptoCurrency have to keep growing in inner values so as that MOON price doesn't just rise sharply and just reflects a ghost shell, dead on the inside or way smaller than what coin and subrredit deserve. Towards this direction, I personally believe that two years of value growth is currently reflected as a sum. Things that contributed towards this: organization with CCIP numbering, polls, steep moderation rules and ability of moderators, good use of flairs, 3rd external sites (like ccmoons, moonplace(dot)io), parallel (chains) subreddits (Meta, Moons, memes), defi liquidity pool, etc. (Check this recent SERIOUS post https://www.reddit.com/r/CryptoCurrency/comments/115ckx9/serious_moons_baseline_value_is_driven_by_the_sub/ for more discussion around the value of the subreddit, etc) submitted by /u/JandorGr [link] [comments]

Crypto is funny in that there are so many different projects promising to do so many different things that there is a corner for literally every type of person or enthusiast. This has caused quite a bit of tribalism where people get so attached to certain projects, coins or even the dev team and in some cases all 3! This is just a friendly reminder that not all dev teams are honest, in this space it takes time to build a reputation and most have either failed at trying or turned out to be outright scams. Then there are those that have scammed their community but the devout followers still cling to old promises and it's quite sad in some cases. This is the nature of a speculative market that is constantly expanding and growing in multiple sectors and directions. Treating crypto like an investment takes emotions out of it, it helps keep perspective like particular price points you want to take profit at etc. This will help you towards tangible real world goals. Simply gambling and then hoping it works can lead to disappointment and a sense of failure. Also, a final thought... Crypto is so fast moving and speculative that unless a dev team can deliver what they say their coin is ' solving ' or doing then it's best to treat it as a speculation. If you buy a car, you don't buy it because it'll be able to unlock certain features in 5 years, you buy as is. Maybe crypto isn't a car, but a lot of dev teams act like the bad product they're peddling is complete and want you to trust them while they take your money upfront. And in the real world, very few people are worth trusting with your finances. Sorry if this sounded a bit dad'ish, but some dev teams can make a crappy product sound groundbreaking via clever wording and bold advertising. submitted by /u/Socialinfluencing [link] [comments]

Most of us here DCA (or, as in my case, try to). Many plan on taking profits by DCAing out during the bull, when their target price is finally met. There is plenty of in-depth backtesting of vanilla and weighed DCA strategies in this subreddit. However, I hardly ever hear people talk about rebalancing and never read a post analyzing such strategy. For those who don't know, rebalancing practically means starting with a portfolio where each asset has a fixed allocation, say 50% BTC and 50% USD (in USD equivalent) and revise it periodically, selling part of the assets that are in excess to buy the other ones (nothing prevents, clearly, from DCAing into the assets, so rebalancing shouldn't be considered an alternative strategy, but rather a complementary one). In case of a portfolio consisting of a crypto and a fiat currency or a stable coin, this essentially means taking profits if the price of the crypto has gone up in the meantime, and buying more if the price has gone down. Of course, when doing this, one must be aware of the fact that each rebalancing might involve one or multiple taxable event, as well as be subject to fees (but that's the same as DCAing out). Time for some questions now... Have you ever tried this in any form? If so, what is your experience? Has anyone performed any backtesting of this strategy? Personally, I have tried a few times, but I have never been that consistent with it (even less than with my DCA). submitted by /u/Plus-Ad4019 [link] [comments]

So there recently was a story about a very targeted attack on exact people. In this case, an senior executive of a large electronics manufacture went to Japan on a business trip and he stayed at a hotel. He connected to the WiFi and enter in his room number to gain access. After a bit, his browser said it had an update. Which he installed. This update was malware. What happened was hackers did a phishing campaign against the hotel to get into the hotel servers. So they knew exactly who was staying in what room, and then they got into the WiFi gear which allowed them to send a fixed software update that contained a stolen digital signature to the target computer. The malware would wait months before connecting with the hackers and downloading more modules. ​ The hacker group has successfully breached a number of gov groups including Russia, USA, and China. They went after many higher end companies. ​ While these are highly highly targeted attacks. The biggest thing to note is it's best to make sure the network you are joining is real. Evil twin attacks are used to trick users into giving up wifi passwords, also fake networks can act as a man in the middle. Where you connect to the hackers wifi, their wifi connects to the real one. The hacker just copies all the traffic going to and from. Sometimes even injecting stuff if they want. Avoid doing updates while connected to unknown WiFi. IF YOU MUST, a trick is to use a VPN. You will want the device to connect as soon as it hits the net. What this does is the device if setup right it makes it nearly impossible for the hackers to send a update payload if the device is ONLY looking and accepting through the VPN and ignoring LAN. Personally I like PIA and there is ways to get it to do this. I personally like PIA because they don't keep logs and this has been tested many times in courts. They even were kicked out of Russia due to this. ​ Why is this important for crypto? Simple. While at first you might think you will never be targeted. Little mistakes can cause you to be. Maybe it's simple as a co-worker that knows you have crypto and has a big mouth, maybe someone was shoulder surfing and seen you check your portfolio, etc. It really doesn't matter If the hacker knows you use a given program they can screw with. Maybe it's something you use for fun, maybe it's some 3D modeling thing, or whatever. If there is a known security flaw with it. This can be used to do some nasty things. submitted by /u/crua9 [link] [comments]

submitted by /u/wanderer00002020 [link] [comments]

as the title says. when devs get criticism or even genuine concern about their projects whether it be utility or future possible use cases, they usually just call it FUD; so they could avoid answering and just leave the people concerned about the future of their investment/possible investment. we all know that spreading fear, uncertainty & doubt is a real thing and can influence a lot of people; but generally, when the devs can’t deliver answers to criticism/questions is a red flag. we have seen that happen few times. devs keep calling criticism FUD to keep stalling until they pull the rug (i would name a few projects but people will get triggered over it) TL;DR: devs avoid criticism by saying it’s FUD submitted by /u/56ab118 [link] [comments]