Bits.ca – Bitcoin & Crypto Currency News & Resources

Making a profit from this market has been a big challenge, considering this is my first. A friend of mine introduced me to trade futures. It was ok initially since I earned around $5k, but that did not end well, so I temporarily stopped doing it. I ended up trying price prediction bidding. The platform that I'm currently trying has just launched, and I'm still in the process of figuring out if this is for me or not. But, So far, so good. It's simple for me because you can bid on the price regardless of whether the candle is red or green. It MIGHT even take over Robinhood someday if everything will go smoothly. I might look for other platforms to compare them if I think this is something I would do in the long term. It's always interesting to discover new DeFi or Dapps that I was unaware of. It's worth it to watch those lengthy videos on technical analysis. But I'm still looking for ways to make money. Also, please do not say "just DCA bro" because I am already doing so, and you do not need to waste your time commenting on it. I am entirely aware that this is risky, but I believe that the more ways I can profit from this market, the better. I was also only interested in NFTs then and didn't bother looking at other markets because they were already making me a lot of money. Of course, not everything that makes money will last forever. Staking is also on my plate now, but other than that, Are there things you can recommend? submitted by /u/Dependent-Sea-4185 [link] [comments]

In a closed press conference at the ongoing ETH Seoul 2022 Hackathon, the co-founder of Ethereum (ETH) spoke on the future expectations of the Ethereum blockchain and the crypto industry in general. “I think the next 10 years is when crypto has to transform into something that is not based on promises of being useful in the future but is actually useful,” he said. Because a lot of applications are promising in theory, but they’re just completely not viable because of scaling issues today,” he said. Source I completely agree with Vitalik here, how many people who invest in crypto actually use it? Most of it is just about the potential, but in the next 10 years it should be about it being “actually useful”. submitted by /u/buyethto10k [link] [comments]

I don't want to sit here and sound like an armchair detective or expert or anything like that, but bitcoin's first four years of life were just as problematic as some of the hacks that we've seen taking place on this subreddit for newer coins in recent weeks. I remember when I first started buying bitcoin in mid 2017. I knew nothing about the technology. I was drawn in by price performance. However, after I started buying, I started paying more attention to crypto-related subreddits and realized, "Oh, so this is what makes it worthwhile to buy bitcoin. There's a hard cap, no one can confiscate it, and I can take it with me cross-borders ezpz. But I gotta get it off of my exchange to keep it safe!" I would say the above is what drew in a lot of us to bitcoin and cryptocurrency in general - price performance without consideration of safe storage or the fundamentals and how to store it. Now let's talk about where you could buy back then: Bit-instant (shut down, defunct), Mt Gox (shut down and defunct), Coinbase back then started with a 5-man-team in July 2012 and had so many technical issues that, at one point, Brian Armstrong got into bed in a fetal position and broke-down crying for about 5 minutes. He talked about it in this interview. Back then you might have possibly gotten the vibe that it isn't a safe place to buy bitcoin, because at one point there was an issue that showed wrong user balances. So with those last two paragraphs in mind, the general idea is, "I think there would've been a lot more people that only knew how to buy bitcoin and (possibly) not even consider withdrawing it." I suppose it would've been possible to use paypal with a bitcoin miner to purchase some bitcoin via an OTC (over the counter) method, but I can't say for sure because -at some point that I am unsure of- paypal started banning users for OTC trading bitcoin on Paypal. I tried google searching "When did paypal ban users for buying bitcoin." just now, but all results turn up a few recent cases from 2020, and nothing with regards to the 2009-2012 era, so I can't say for sure whether or not it would've been doable. And, if you read the book, Bitcoin Billionaires, you would know about bit instant and how it was shut down for failing to comply with AML/KYC standards and its CEO was jailed at one point. I hope that if you read this and if you ever beat yourself up for not buying back then, you've learned something new that puts your mind at rest. submitted by /u/sgtslaughterTV [link] [comments]

This sub has been quieter the past couple of months. Peacefully so, I'd say. But I was wondering if our community was getting smaller here. Were people leaving the sub and deciding to give up or pause their crypto investments? So, I decided to keep an eye on the membership numbers for a while. And turns out we continue to gain members. I am posting this because I think it is interesting. If there is another way to see the numbers at any given time, I am not aware of it, so I will share what I captured: July 26, sometime around noonish: 5,157,719 July 27, sometime in the morning: 5,161,793 July 28, around 5PM: 5,166,979 July 29, around 9AM: 5,169,767 July 30, around 8:59AM: 5,173,914 July 31, around 8AM: 5,177,914 (no that isn't a typo, the 30th and 31st numbers both end in 914) August 1: Didn't get data August 2: Didn't get data August 3, around 9:12PM: 5,194,343 August 4, around 7:33PM: 5,199,121 August 5, around 8:17AM: 5,201,530 August 6, around 5:04PM: 5,207,531 August 7 (today), around 9:03AM: 5,210,057 I thought it was interesting to see we are growing and soon will hit 5.25M (probably very soon) and we should hit 6M this year. Sorry if you found this post boring, but I hope some of you find it interesting. All times are based on U.S. Eastern Daylight Savings. submitted by /u/Invest07723 [link] [comments]

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Recently the news broke that the big asset manager BlackRock is going to provide their clients with direct Bitcoin exposure through a partnership with the Crypto company Coinbase. This was seen as a major opportunity to make Crypto more accessible for institutions. And it's even more impressive as BlackRock basically changed their whole view on crypto in under 5 years. In 2017 their CEO said that Bitcoin is the "index of money laundering" that is likely right during the big 2018 rally. Now one bear market later in 2021 during our latest bull market BlackRock said that they are "Bullish on the blockchain but not Bitcoin". Now just a year later in the middle of the bear marhet they partnered with a crypto company to give their clients access to Crypto. This has been the same roadmap for many asset mangers. First they hated crypto and then they admitted the tech is amazing but not crypto itself and now here they are offering it. submitted by /u/partymsl [link] [comments]

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Hi guys, I'm just updating this weeks number. It has been almost the same, we are now at a point where consistenly around 120 BTC are traded monthly here in Venezuela, ONLY measured using LocalBitcoin. LocalBitcoin is not the most popular way of purchasing/selling BTC here anymore, but it's the only one with an open API and we can see the stats. Binance is for sure the king, sadly they don't make public their stats. Binance has P2P option in Bs. Others are AirTM and Reserve. Uphold was used here a lot but had to leave the country! Monthly minimum wage is 23 USD (It's 130 Bolivares "Bs." and exchange rate is 1 USD = 5.8 Bs.), average is around 100 USD. People "survive" at the bare minimum, but need a sidejob, selling something at home and receving remitances from abroad. There are no zeroes anymore because 10 months ago, government ordered removing six zeroes from the currency by law. They did that before in 2018 (5 zeroes) And 2007 (3 zeroes) People use crypto to get rid of Bolivares and escape inflation, also to receive money from abroad, exchange their mining profit (mining here in theory is legal, but not safe anyway, electricity is free but unreliable), here mining even with old S9 and GPU will be profitable. Any question, let me know! Some sources, https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/ https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/ https://coin.dance/volume/localbitcoins/VED/BTC https://coin.dance/volume/localbitcoins/VED https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/ https://localbitcoins.com/country/VE https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/ submitted by /u/WorkingLime [link] [comments]

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