I suppose mining does waste electricity, but you would need to take into account all the ways Bitcoin improves the world to properly determine if the carbon footprint is larger than a world without crypto.

When Bitcoin was first released, it was definitely a much better decision to hold than to trade. Nowadays, it's much harder to tell. But even a few years ago one of my relatives, who isn't a trader, made almost a million dollars holding.

¯\_(ツ)_/¯

I think that's an excellent idea! I know that my family members would love it if they received Bitcoin as a gift. Of course, there's the risk of it crashing after you've given it to them, but I still think it would be exciting to receive cryptocurrency, especially as a teenager.

I'm also using Electrum for my Bitcoin, but only because I have a very small amount. I also have a Lynx wallet. If I get a larger amount of BTC, I'm definitely going to switch to a hardware wallet though.

You actually can buy stuff on Amazon with BTC through Purse.io. When you place an order, your Bitcoin is sent to someone with an Amazon gift card who then buys the product for you. What's neat about this is that it actually ends up being cheaper than buying from Amazon itself!

The US is definitely lagging behind the rest of the world in terms of crypto policy. It may well be that China will emerge as the next dominant superpower due to their acceptance of cryptocurrency.

The innovation ETH introduced with blockchain-based contracts was very interesting and useful. Bitcoin, on the other hand, doesn't have any application other than as a store of value. So I'm leaning towards Ethereum as my favorite coin, but I'm not sure.

I just signed up on Yobit. So far it seems alright. I just wish the bitcoin withdrawal fees were lower, although it seems like you can get around that by trading BTC for something with lower fees.

If you could do this you'd probably end up becoming the richest man in the world! Joking aside, you'd probably end up spending way more money than you'd ever make.

Can anyone tell me what the minimum amount of money is that I'd have to spend on mining hardware to make a profit? Thanks!

Arbitrage trading seems to be a lot less risky than other types of trading, if you can find profitable trades. This guy on reddit claims he made $1000 in two months with a trading bot, which is very interesting. So I guess I'm wondering if anyone here has any experience with this type of trading?

4 minutes ago, Unfazed said:

I hate KYC cryptocurrency exchanges. The blockchain/Bitcoin was design for privacy...that's why it's decentralize. So why everyone got to collect my identification info? 

I feel exactly the same. Do most decentralized exchanges require KYC? It seems like it wouldn't be necessary, due to there being no central authority. But maybe I'm just being naive.

I'm using Lynx wallet. It's pretty dope. It has a very intuitive user interface, unlike many other wallets out there.