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The issue would not have been different if the BTC would have been used instead of the dollar. At least with the USD value going down they would not all died of hunger.
How to destabelize the country further? Have the capitalist class park their assets in BTC. The national currency will be in lesser demand and you can smile as the government has no means of solving the issue than to give up it’s freedom and join the rising economical bloc around it. Althoug neighbour India is trying the neutral stance it has taken steps in both the belt and road initiative as the chain of pearls initiative.
There will be less food, less energy, everything will be scarcier, so everything material, universal and with strong guarantees will rise in value. But strong guarantees must be like in “this land and oil, those people, these guns” strong. Not like in “muh imaginary crypto number goes up” strong.
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Hence why it is called a “scam”, rather than “theft”. As you point out, though, the world is full of scams that are not tied to BTC/crypto.
But many crypto investors will never be comfortable running their own wallet without 3rd party assistance - just as most choose to use a bank over hiding cash around the house. It’s a real problem that so many of these 3rd parties in the crypto space seem to eventually run away with the vault.
The 2 primary reasons I hear from people for avoiding crypto:
- It’s pretend money (not real)
- Can’t trust crypto banks/exchanges/etc.
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Then they should probably wait and not invest until there are regulated banks that have at least some insurance behind them.
But honestly, if people can learn how to drive a car and not kill people left and right, they can probably learn how to keep 24 words save and how to handle a wallet. Also it gets only easier with time, exactly like driving, you don’t need to know how your car works anymore to make it work. With wallets there is some work to be done there, but it used to be a lot more clunky.
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I’ve been run off the road twice already this summer by these drivers! 
I agree they should probably wait (and largely that’s what they are doing).
I see the barrier here as one of confidence in security, rather than difficulty in the process. Without an insured 3rd party to handle the security, they have to understand and trust the process of running their own wallet. It’s easy for you to have confidence in this because you seem to understand the underlying technologies - but your level of knowledge/expertise is definitely not the norm. They probably have to take others’ word and follow a tutorial (in a space we have already identified as being full of scammers).
It’s one thing to trust the general technology of BTC/crypto…
It’s another for a novice to trust they set up their wallet correctly such that it is secure.
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I think the issue is they are not making some info widely available, It is in a crypto exchanges interest that a person stores their BTC with them instead of a personal node. Crypto exchanges have shareholders to answer to so they will be mostly honest, but they definitely wont promote the fact a node is available for personal use. With BTC it is better to get support from reddit where no one wants anything from you and they are just keen to answer your query to the best of their knowledge.
We can also note that scammers never ever try to directly hack banks or the actual store of currency, they always try to get us to perform an action, this tells me that it is impossible to hack a bank or a store of money. Most websites that hold currency use very strong encryption.
It’s shouldn’t be too hard to set up a node, I can imagine due to BTC still being new there will be lots of support, I have set up a wallet on my computer for BSV, It really was just a question of making a note of the 24 words Karak mentioned the process was straight forward and easy to understand.
I just did a google on how to set up a BTC wallet;
- Go to the App store (iOS) or Google Play store (Android).
- Search and download Coinomi.
- Open the app and write down your 24-words recovery phrase.
- Set a strong password.
- Add bitcoin to your wallet.
- Use your receiving address to receive bitcoin.
I’m pretty sure anyone who knows how to use a computer shouldn’t struggle with this at all.
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Yes it is a shame this is happening, I would have thought with BTC in Sri Lanka the little guy would be able to be in control of their own money instead of the current government, But then there would actually need to be fuel and electric available for sale in the first place. It’s sad that a government/bank can’t be honest about their currency which made people stop sending money through banks.
I’m not trying to say BTC would be a better choice, I’m just saying it is a good idea for a country to use their own currency or BTC instead of another countries currency. Obviously they were hit badly as their tourism income disappeared over the pandemic and even then their imports for which they pay out US dollars are far greater than their exports for which they are paid US dollars.
Solutions involve big companies setting up in Sri Lanka, they would be able to agree a cheap labour cost due to the position Sri Lanka is in, They would also need investment in their power infrastructure which would make it look better for big companies to set up there. Ultimately there is a demand to produce needed items as cheaply as possible, but the ground work must be done first like securing oil, petrol, food, energy.
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British Army’s Social Media Accounts Hacked to Promote Bitcoin Giveaways, Crypto Scams
Here we go again, more Youtube and Twitter accounts hacked to promote scams, Hopefully they will keep getting fined until they get off their asses and actually do some work.
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At least the dollar is rising again, well since December 2020… and it’s a bit high at the moment, which isn’t good for me to import. 
I remember a warehouse importing a lot of American goods last year. They were lucky as they are much more competitive at the moment.
For you it’s better, yes. But there is no advantage for the average person, like I said besides import and export which is usually done by shops and companies it does not benefit the average person a lot. The people who bought items from China, while it was not being (import)taxed a lot also made a good living, now however, everything is taxed which is good for the general population as those who lost their jobs because I (and many others) bought items in China, will now be able to get a basic income from the government. Every action has a certain reaction. And I don’t like to many people trying to abuse the same “exploits” I find because then the government takes a look into it and starts regulating/taxing/… which in itself isn’t that bad, the people have chosen the government and there are many parties that have a social program and want to support the unemployed. Unregulated BTC was fun but BTC changed/morphed a lot since 2010.
It has many uses but I’m sad even today most of it is just bad. Are there exceptions? Yes, many but not that it makes a difference on the scale of the coin-betters, who will abandon their national currency in a second to exploit any other currency to escape the economical impact of their governments decisions. Which on itself isn’t too bad if there aren’t poor people that will suffer even harder with the devaluation of their buying power.
The wallet, ranking third in Bitcoin holdings behind two crypto exchange wallets, bought 4,816 BTC over the past month, splurging over $102 million in the process.
No manipulation? One guy is like “Hey, it dropped too much…” is he a Bitcoin Saint or did he make money from the fall and is just inflating again hoping people will rush with him, then he can sell when those other millions of small investors get ripped off. Well, that is if they don’t HODL forever.
Not saying it’s a pump and dump scheme, but… it appears that a select people are manipulating it to a scope never being seen in the world before. I don’t think those people should control the value just as Soros does. Could even be Soros trying to keep his money invested in BTC a gift that keeps giving as long as the waves go up and down. And there is no SEC to stop them.
A great article, how many people bought in, how many BTC were sold after new people walked in and got their pockets cleaned? Kinda like a casino, well, at least I hope it’s the same fun because it’s a lot of money being thrown at nothing. Not nothing, lots of money being thrown at burning up resources.
I’m not sure why you’re surprised there are some big investors who want BTC to go lower before they buy it. Buying low is the first rule of any business.
I’m not sure I get how your mind works…
- You know BTC value is linked to supply/demand, if there’s lots available the price is low if BTC is scarce the price is high.
Why are you surprised people have sold their BTC? they we’re tricked into buying it thinking they would become rich. Once they noticed the price was lower their idea of doubling their money seemed impossible so they sold.
Again, if you give your BTC to a company like three arrows or Terra/Luna then you will most likely never see it again. If you kept BTC on your in your own wallet or an exchange then those people who got cleaned as you put it would only have lost some BTC value and not the actual BTC. I know you struggle to understand or accept this but it is true.
All I can say is people must be careful what they believe, BTC is not a scam it is actually one of the best inventions ever created.
We all control the value of BTC. If all of us buy the price is high, if all of us sell the price is low. 1 Billion people buying £50 worth of BTC would be more than any company could buy. Are you still going to believe a select few control the price?? I could log in to Coinbase and buy £50 worth now, will I then become part of the select few?
Everyone on the planet is free to buy BTC as and when they choose.
You’ve been given valuable info here, remember it or forget it if you choose, nobody wants anything from you here and nobody is here to manipulate you for personal gain.
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No, 172 million wallets are active and 147 of them are owned by exchanges, gambling and darknet markets. Not sure where you think there are lots more than 25 million “real users/customers”. Feel free to elaborate on that.
Yup, value did increase like you said 4 days ago, but it did increase for about a year?
Good to see you found out about it one year ago. I guess greedy people are now buying USD.
That value is kinda high and exporters probably want it to go down so they can sell more.
No, they need a source of electricity, an internet connection (in cities there might be free wifi offered by pubs and scammers sitting there with their own AP to grab what they can), a smartphone , download an app of which most are scams, buy BTC with… well not cash so they have already a bank account. The majority of the 20% of people in El Salvador who still use the chivo wallet are people that have bank accounts too. However, identity theft rages on as scammers collect the ‘free real estate’ money $30 from the chivo wallets. BTC printer goes brrr…
CCP wants dank amounts of Euro’s from me. And I happily give it to them.
Here there is no scamming, but once you google, scams galore due to the nature of BTC and it’s origins in the Dark Web. I’d say ask McAfee but he’s gone. 
Read my statement again.
Seriously?
“We all”? Who are they, please define the specific 1 billion people you selected. They all have the means to invest, okay, it’s probably there are 1 billion possible customers. They could buy BTC because? Do 1 billion people need to send money internationally pseudonymous? Or would you tell them BTC would go up and when you sell call them greedy? Because
Literally any commodity will change value and you don’t even need a billion people for that.
Owning and controlling are a different thing. When Elon Musk tweets a meme on BTC, BTC value moves. When a million people tweet memes on BTC, BTC barely moves. Bitcoin price change and trend prediction through twitter sentiment and data volume | Financial Innovation | Full Text
I posted above how one person tried to push the value of BTC back over the 20k barrier;
BTC is down, apparently people have bought USD coins…
What are you talking about? You clearly said exchanges were bad? Why would you buy at an exchange?
What happened? And no, you just buy for around £50 million to influence the value. Or tweet but I guess (and hope) you don’t have the same crazy followers as Elon Musk on twitter.
Sure, I’m not going into politics but I would be carefull saying such a thing in China (no owning) or Russia (mine and sell but no buying). I posted this info above already.
Same to you I guess, so instead of posting snarky remarks I just answered your post with information you could find if you just scrolled up a little. Always look on the bright side of life…
This is probably why BTC confuses you so much, you have a bad memory and don’t seem to remember much. Why don’t you just stay in your lane and forget about BTC?
Your points just go around in circles and there’s no real end. If your mind is made up about it being a scam then what is the point of your convo?
BTC does hold its value due to there being an amount held in wallets currently, You can see the value is now stable for yourself, there has been a large purchase of BTC in the last 24 hours which will make the price go higher.
You don’t seem to understand that it was an accurate fictitious statement. A clue is normally the “IF” at the beginning of the statement. That is an accurate description of what would happen IF large amounts of BTC were brought in quick succession.
No, with BTC the value is only linked to supply/demand, the value will never just go up suddenly unless there are massive purchases and less is available to buy.
BTC value is lower, which is what happens when lots of people sell their BTC.
No I said one must be careful if an exchange has hard times or goes bust, you might not be guaranteed access to any bitcoin you are holding with them.