Sometimes I face people that harshly criticize #bitcoin and #crypto , calling it a bubble or a scam.

Sometimes critiques are based on ignorance and are easily addressable, on other occasions, I've found myself in trouble replying to them.

These are the points I struggle to debunk (my debates are usually on Bitcoin as it is the most known cryptocurrency and we can simplify by affirming that it represents all the crypto space):

- Bitcoin can be banned by countries:

Here I'm not talking about single countries banning crypto trade, but the eventuality of the entire world banning it.

If every country decided to make mining, trading and owning cryptocurrency illegal, we would see a huge dump in adoption and consequentially price. I usually reply that this scenario is highly unlikely, but that could really be the death of crypto.

- Bitcoin is not suitable as a daily currency as its volatility makes it difficult to handle:

It would be impossible for a store to display prices in $BTC , as it would mean changing the tags every day. I know it's a trivial issue, but it prevents me from imagining a world where BTC is the main currency for daily expenses.

Another problem is fees that are particularly high sometimes. I usually reply that the Lightning Network will probably be the go-to choice for normal transactions in stores but it probably requires a more complicated setup.

- Bitcoin has no intrinsic value, Bitcoin is purely digital & backed by nothing, so it has no intrinsic value:

I think that in 2023, thinking that something has value only if it's physical is anachronistic. Digital contents gather millions of people and the most valuable infrastructures nowadays are mainly digital.

.....

I would like to know what are the best replies to these critiques and if you had some interesting conversations to share about these issues.

#Johnmiracleweb3 #crypto2023

Some of you here joined right in the heart of the bear market! You feel that cold? 😷😰

How are you still standing?! Well, not too long ago I myself was like you.

Now compared to the veterans of 2017 and even those older heads from earlier we're all still babies in this market.

But some of you might wonder what a #crypto bullrun is like. So here's a few highlights that I fondly remember from the 2020-2021 run as we await the next one.

⚡ There were regularly more people online, sometimes far more.

⚡ Comedy posts would be all over the place.

⚡Everyone is euphoric and random coins

⚡ Increase ×10 for no reason. I remember quite a few new coins doing x50 and x100 for no reason other than speculation.

⚡ You'll hear crazy stories of people either retiring inside a month or others that hide their crypto in strange places.

⚡ Massive armies of firms take over and promote coins that you're forced to pretend you like.

⚡ People pick sides and duke it out, so in short you haven't seen anything yet if you haven't seen a crypto bullrun.

So while everyone may be selling you gloomy news and bearish views, once the bullrun returns you'll see for yourselves how wild crypto truly is.

Stay Jiggy, and wait to experience a #cryptocurrency bull run 😊

Follow for more ♥️

#Johnmiracleweb3

So this dystopian project by Sam Altman (OpenAi CEO) that has no space in #crypto space has been launched around 3 weeks ago.

Price at the launch stayed at around $2.7, and later on it settled down at prices around $2.3-$2.6. But now only 3 weeks later price is very sharply down to $1.51 at this given moment.

They have already scanned millions of people all around the world under pretenses of just verifying their digital ID and verifying their humanity, whatever that means.

Most of the places that they've scanned people, or better said the locations they preyed on, were mostly rural areas in poorer parts of the world, parts of the world where people are more desperate and few dollars means a lot more to them than others. Most of their orb scans have come from Africa, South America and India.

Kenya already suspended it after hundreds of thousands of people were standing up in lines to receive scan of their eyes and receive 25 of $WLD tokens that at the time were worth about $60, but now only $38.

It has to be taken into consideration that they only unlocked exactly 1.26% of the supply of the token and fully diluted market cap of this token is still abnormally high at more than 15 billion which would very easily put it into top 5 non-stablecoins (just behind $XRP ).

People that scanned their irises basically sold their biometrical data and privacy that Sam Altman can sell to whomever or use it however he wants with multiple projects in his AI companies like OpenAI, and all for meager $38, and if they hold for longer, that amount will soon be maybe $20 or $10.

Worth it?

#Worldcoin #Johnmiracleweb3 #FDUSD

In 1976, the US government officially took the dollar off the gold standard. From this point, the international monetary system was made of fiat money only. As a result, governments were able to print money out of thin air. Something we all got too familiar with in the past years.

Bitcoin is consistently hitting ATHs in Argentina and Turkey. Maybe not because #bitcoin is going full bull mode, but because their native currency is being inflated into oblivion. The Russian Ruble is moving in the same direction.

It goes to show how important it is to have a (global) currency that is not controlled and inflated by a central entity. This is one of the reasons why decentralization is so important. and why we shouldn't forget about Satoshi's vision.

CBDCs, do not even come close. The other day the Singaporean Central Bank proudly presented its framework for its national stable. In the document, it was mentioned that a 3-day process time is "timely" for stablecoins. All that means is that there's a ton of centralization behind the scenes and that these stables are no better than fiat. You will still lose your purchasing power over time.

We need $BTC .

Cheers

P.S. My favorite quote?: Bitcoin will go up because fiat is the bubble

#crypto2023 #Johnmiracleweb3

I’m summarising the article that you can read on The Olive Press:

“Spain is leading the global cryptocurrency property market with nearly 300 homes available for purchase using $BTC or $ETH . Forex Suggest's recent research reveals Spain's dominance, followed by Thailand and Portugal.

These properties average around €2 million in Bitcoin price, making Spain the sixth-most expensive country for #cryptocurrency real estate transactions.

Many of these properties are concentrated in Spain's popular tourist destinations like Marbella, Alicante, and Barcelona.

However, while cryptocurrency transactions offer advantages such as fee avoidance, their newness and volatility present challenges. Bitcoin's fluctuating prices can impact transaction values.

Despite these hurdles, the appeal of near-instantaneous payments is clear, particularly when compatible mortgage providers are available. Spain's strong presence underscores the increasing acceptance of cryptocurrencies in real estate.”

These incredible news about Spain + Portugal’s lenient crypto regulation that’s already been talked about in the sub make me bullish on the Iberian peninsula.

What do you guys think about crypto merging with the housing market? Or merely using #crypto as a P2P payment method?

Share your thoughts in the comment, and follow for more.

#Johnmiracleweb3 #crypto2023

Many of us began our #crypto journey in 2021. The year of monumental gains, euphoria, and a prevailing sense of positivity about the industry and its future adoption.

Only to be followed by 2022, the most brutal sell-off many of us have ever experienced. Portfolios were crushed with 65-95% losses, depending on exposure to certain altcoins.

Those who followed a “hodl” and “diamond hands” strategy from 2021 onwards endured catastrophic losses in USD value. If the primary holding was #BTC , the losses have been partially recovered during the first half of 2023.

However, the large majority of altcoins have since retraced the majority of their recovered gains over the summer. Many charts show retracement all the way to the lows during the collapse of FTX.

In short, the past few months have been very brutal for altcoin holders. The losses keep stacking up, with factors such as SEC regulation and economic worries continuing to push assets lower.

So my question is this: are you willing to continue holding altcoins if this downtrend continues in similar fashion to 2022?

Is there a point of losses in which you sell some to retain capital and then buy the dip later on?

Let's know your move in the comment.

#FDUSD #pepe #Johnmiracleweb3

The year was 2006. America was hungry for a cheap and quick alternative to the tasty, but increasingly boring cheeseburger. Enter the McDonald’s Snack Wrap. This small but mighty Mickey D’s menu item had its fan base in a vice grip (me included). The country was thriving.

It wasn't but a few short years later that the world would receive another much needed and desirable alternative, although they may not have known it at the time...

In January 2009, #bitcoin was created by pseudonymous developer Satoshi Nakamoto as an alternative to the mighty, but increasingly boring fiat currency.

The snack wrap satisfied the hungry people's lunch and dinner needs, and Bitcoin satisfied their need for a fiat revolution. They worked together hand-in-hand to create a level of peace and harmony the likes of which the world had never seen before. Unfortunately, the snack wrap was discontinued in 2016, and the world was cast into chaos and disarray.

From the inception of $BTC in 2009, to the ill-fated end of the Snack Wrap in 2016, the price of Bitcoin increased by a whopping 49,747,678%.

Bitcoin remained, but mankind lost an essential link in its dietary chain. Early #BTC adopters and #crypto gold rushers alike would fall back into a diet of cheeseburgers and cholesterol. We grew fat. We grew complacent.

But now, rejoice! Burger King has announced the launch of their very own line of snack wraps.

Source - https://www.usatoday.com/story/money/food/2023/08/08/burger-king-chicken-snack-wrap/70548951007/

This monumental news is sure to send ripples through the crypto world. If the Burger King snack wrap succeeds and remains a staple of the American diet for years to come, I predict a price of $14,469,638,709 per BTC by January 2030.

Tell me what you think in the comment 😄😄

#crypto2023 #Johnmiracleweb3

A new feature in Bitcoin's blockchain is emerging and has made many people satisfied with its utility. The name of this feature is OP_Vault and the intention is to implement this in the blockchain itself.

OP_Vault is a mechanism that like the name itself gives away works like a locked vault. The idea is to have a wallet with a main spending address that can be accessed always and a vault address that is locked. This vault would have to be setup by the user and consists in adding a timer to when a transaction will be executed.

In practical terms the user setups a vault with a timer, during the creation of this vault a private key different from the main wallet will be generated and should be kept by the user away from the main one.

After a trasaction is performed in the vault address the user has to wait the time that was defined in the creation of the vault before the transaction is executed. If the user defined an one day wait time, the transaction will be only executed after one day, which means that if its a malicious transaction the user as time save the funds before they get stolen. The transaction will be broadcasted into the blockchain, after getting one confirmation the waiting period starts.

The question is how an user will save his Bitcoin after a malicious transaction has started. The answer is easy, the user has already setup an address for recovery that generated the vault private key, after a malicious trasaction starts, the user would be notified by the watchtower that a transaction is being made in his wallet, remember that the countdown has started, the user can access his vault insert the private key and divert the transaction to the recovery address controlled by the user when he first created the vault.

All this has to be done before the countdown has run out or the transaction would be executed and the funds would be stolen.

The concept of a watchtower is very important here because it is the way the user has to be notified that a transaction has been started in his wallet.

This vault can be closed instantly by the owner of the vault private key by inserting the private key in the vault and chosing the option to close it. This would incur a transaction fee because it would make a transaction to the main address, but the vault would be closed immediately and the user would have access to the funds in the vault isntantly without having to wait for the countdown to end.

This is a feature that has not been talked about by a lot of people but its one that can help a lot of people not to lose its funds by the means of a scam.

#Johnmiracleweb3 #crypto2023 #bitcoin

P.S If you like this content, you will like my next update. Kindly follow for more ♥️

If you've been a somewhat active user of Ethereum mainnet, you know what a block explorer is.

Thus, here's a link of Etherscan: https://etherscan.io/

Paste your address in the search bar and you can see all your transactions:

After you've done this, click on the Analytics tab.

It should be right below the panel where you can see your balances:

ke a look at the section outlined below - Total Fees Spent (As a Sender):

Happy Thursday.

Sincerely,

Someone who:

Spent more than 1 ETH on mainnet and a few hundred more on L2s farming airdrops

Paid >$100 a couple of days ago to restake on EigenLayer (my motivation for this post <3)

And with that being said, now it's your turn:

How much ETH have you wasted in your lifetime? 😄

Cheers!

#Johnmiracleweb3 #Ethereum

Bitcoin is back below $30,000 but firmly holding above support at $29,000. Although many investors are showing withdrawal symptoms due to the market doldrums, $BTC price appears to be preparing for a major leg up.

Notably, the falling wedge pattern is a bullish formation that occurs when the price of an asset declines within a narrow range, forming a wedge-like shape on the chart.

The pattern indicates that selling pressure in #bitcoin markets is weakening and that the buyers are ready to take control.

To trade this pattern, investors should ideally look for a breakout above the upper trend line of the wedge somewhere around $29,400 in the case of Bitcoin – a move that confirms the bullish momentum.

Such a breakout is usually accompanied by a spike in volume, which adds validity to the signal. The target price would be estimated by measuring the height of the wedge and projecting it from the breakout point.

For instance, for long positions activated above 29,400 investors could anticipate a 5.77% climb to $31,074.

#BTC /USD daily price chart | Tradingview

Realize that BTC needs a catalyst to rise above the stubborn resistance at $30,000 to start the run-up to the end year and a pre-halving rally likely to propel it above $40,000.

With that in mind, retail investors are likely to use the falling wedge pattern breakout as confirmation of a substantial leg up.

Likely to add credence to the bullish outlook is a potential buy signal from the Moving Average Convergence Divergence (MACD) indicator.

BTC Price Pain Before Gain

The investors in Bitcoin are at the moment praying for news that a breakout has occurred above $30,000 but may have to first swallow the bitter pill of a drop to collect liquidity at lower levels possibly below $29,000 but ideally not lower than $28,000 for short-term movements.

Based on the four-chart, Bitcoin holds below all the major moving averages, including the 200-day EMA (purple) at $29,432, the 100-day EMA (blue) at 29,386, and the 50-day EMA (red) at $29,372.

This position suggests that bears have the upper hand and with the MACD almost validating a sell signal in the same timeframe, BTC could close the day hovering around $29,000.

Several times Bitcoin has sought liquidity at $29,000 but failed to gather enough to propel it above $30,000.

“Bitcoin prices are infamously volatile, however, the market is currently experiencing an extreme volatility compression,” Glassnode told investors on Monday. “Whilst options markets reflect this, it suggests that Bitcoin is either no longer infamously volatile… or volatility could be mispriced.”

Therefore, a drop to $28,000 might expose the coin to buyers who would be willing to bet on a tactical rebound.

August 15, 2023 by John Isige

#Johnmiracleweb3 #crypto2023