Bitcoin....who's gotten into it?

[JimmyCarter]

The hoped- for transfer of wealth "because it's our turn" is the most honest justification for investing in BTC that's been posted in this thread.
The rest is "how we defend it in public"

[pureantigravity]

If you'd invested all your Loonies into BTC that you could've made while working, instead of the many hours you've spent reading crytpo FUD and shit posting in this thread, you'd never have to worry about your HVAC bill again. Instead you just come off like a bitter looney.

It isn't any use. Once you experience the joys of owning US dollars, your desires for BTC will wane. If you don't understand, then I don't have the time to explain it to you. In any case, you're wrong because my HVAC bill isn't payable in BTC. I'd have to convert it to $DOGE and then pay them with that. Cut out the intermediaries.

[jackstraw]

The hoped- for transfer of wealth "because it's our turn" is the most honest justification for investing in BTC that's been posted in this thread.
The rest is "how we defend it in public"

Yeah, seems like that from an American perspective. A world view may be different. I certainly don't know, but like most things, it's bigger than the American perspective, but per usual, we're often looking with blinders on.

[JimmyCarter]

Yeah, seems like that from an American perspective. A world view may be different. I certainly don't know, but like most things, it's bigger than the American perspective, but per usual, we're often looking with blinders on.

What's the average annual income of the folks in sub-Saharan Africa or the rainforest that we're trying to help?
now what are coinbase's transaction fees? or what does a kraken cost? who controls the internet access in these countries?

That argument isn't actually about helping the poor or disenfranchised in these countries, it's about hoping the demand for bitcoin takes off to benefit the current holders. This thread is nothing but people talking their book.

[bennymac]

It’s hard to take someone serious when they think BTC mining is going to solve climate change. Either you know that’s bullshit and you’re lying to us about it - or you believe it and you’re brainwashed. Either way it taints credibility.

[joeshek]

You miss the point. Currency is meant to be exchanged. Its primary purpose is to grease the wheels of the economy and keep it flowing. It has no intrinsic value beyond that and it would be self defeating for it to.

Think of it like ski wax. The more you ski the more wax you need. It’s kind of a pain in the ass and is a chore, but it just makes everything work better. Outside of skiing, it has no value outside of maybe some novelty. Now imagine somebody made, at the expense of an extraordinary amount of resources, some ski wax that performed far worse and was really hard to use. And a shitty ski wax cult told you it was the future of skiing, even though it wasn’t actually any good at making your skis glide. But all the jongs exchanged their good ski wax for it because they don’t like to go too fast anyways and they believed a bunch of conspiracy stories about Swix and Toko and somebody told them ski patrol wouldn’t be able to catch them if they used this wax and maybe they wouldn’t even need to buy a lift ticket and as they’re making slow turns down the mountain they laugh at you for using real ski wax and try to get you to exchange your good ski wax for their wax too. Most didn’t actually use the shitty wax, because it was shitty. They used the good wax for actually skiing. They just held on to the shitty stuff. And if you told them the shitty wax didn’t work well and that less glide was a bad thing they whined about you killing their vibe and called you a hater.

That’s kind of what this is like. And the shitty ski wax is in demand by all the jongs so you can exchange it for actual ski wax at higher and higher rates. So the shitty ski wax cult points at how much good wax they can exchange their shitty ski wax for today as opposed to when they first exchanged good ski wax for it as some kind of proof that it was superior. And I guess, like, now they can get a bunch of good ski wax for ultimately way cheaper than you were able to get it for. So I guess that’s cool. But.... isn’t the wax still shitty? And this cycle continues until it eventually implodes, because doesn’t it have to? Maybe? And is the point really to have more ski wax or is the point to be able to do more skiing and glide really well?

Is this phantom?

[stalefish3169]

It’s hard to take someone serious when they think BTC mining is going to solve climate change. Either you know that’s bullshit and you’re lying to us about it - or you believe it and you’re brainwashed. Either way it taints credibility.

Remind me of the names of your car and rocket ship companies?

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[bennymac]

Remind me of the names of your car and rocket ship companies?

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You first. List em....

Or maybe I could list my crypto holdings instead?

Exactly zero of them are gonna end climate change.

And I don’t bow at any coin’s altar.

If my post, which wasn’t directed at anyone, made you feel targeted maybe it’s time for a reality check.

[jackstraw]

What's the average annual income of the folks in sub-Saharan Africa or the rainforest that we're trying to help?
now what are coinbase's transaction fees? or what does a kraken cost? who controls the internet access in these countries?

That argument isn't actually about helping the poor or disenfranchised in these countries, it's about hoping the demand for bitcoin takes off to benefit the current holders. This thread is nothing but people talking their book.

Not stating anything about third world countries or any country or group of people specifically. Just thinking people in any country could and certainly are looking at this "currency" differently. Look at what's going on with NFT's. I think it's crazy along with these crypto coins, but I don't see it stopping.

Personally, I hate the energy used, but arguably fiat uses x amount also. Most annoying is how it's been used as a ransom payment by hackers for years now and those assholes have become extremely wealthy.

[jm2e]

I'm very curious how far eth will run. Still hasn't gone parabolic, still stepwise.

I bought eth in november at $500 and also been mining it all winter. Been slowly selling into usd since $2k - I have a ladder of limit sell orders up to 5k. I also track eth/btc market and have a sell ladder set up there and have been getting some fills.

I was selling BTC all the way up to 65k, man that was crazy. I don't think we are topped out in this bull run, but we could have protracted sideways and down. I rebought between 47-50k recently and I have further buy orders down to 40k. Fingers crossed that I get some more fills.

Interesting times. Good luck to you, whatever you do.

Thanks. I wade through the mountains of unproductive repetitive arguments to gain the very occasional morsel of useable advice.


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[dunfree]

Not stating anything about third world countries or any country or group of people specifically. Just thinking people in any country could and certainly are looking at this "currency" differently.

None of this shit is looking at money or currency differently. It’s just reinventing the wheel so a bunch of different people can make money on the hustle. NFTs offer nothing the art world didn’t have before. Not even the obvious sell side corruption of dealers bidding up works they have the rights to

So much if this shit is first world dudes extrapolating onto the “3rd world” their fears, not the actual 3rd world doing shit.

[MultiVerse]

None of this is an accident. Bitcoin is controlled by a cartel made up of a few entities and accounts. Crypto going mainstream is driven by well-articulated road mapping. NFTs are part of the plan. The talking points and 'repetitive arguments' stalefish and shera post here are first posted elsewhere and then widely disseminated. The new plutocracy is incredibly adept at both technical and social engineering in order to maintain and increase its wealth and power.

[pureantigravity]

Russia, China, Europe, Asia and America - they will all buy your steampunk tokens one day because they are worth so much. They will wish they had stocked up now while the limited supply of 'software-code+maths' systems tokens were actually available and still in jelly hands. They'll want BTC, ETH, DOGE and most importantly the instantly printable and honored TETHER to stock their central reserves. The glitters (gold), the girls best friend (diamonds), even catalytic converters will enjoy the shade cast by the world wide graphics-card and ASIC-factory-produced numbers of the billions of dice rolls systems (BTC). SATOSHI will then come the 2nd time and reveal himself to the true disciples.

THIS HAS BEEN YOUR SUNDAY SPECIAL MESSAGE. IF YOU ENJOYED THIS MESSAGE, PLEASE PLACE THESE LEAFLETS IN YOUR NEIGHBOURS MAILBOX AND POST STUPID SHIT ON THE INTERNET. ALWAYS YOURS, SATOSHI (THE MOOLA AND THE OMEGA).

[stalefish3169]

Cheer up dudes. ETH just hit 3k!

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[shera]

Thanks. I wade through the mountains of unproductive repetitive arguments to gain the very occasional morsel of useable advice.
]

Not advice! Just describing what I'm doing. Everyone has a different situation and NOBODY has a crystal ball.

Cheer up dudes. ETH just hit 3k!

Maybe we are going parabolic? Honestly, taking profits stresses me out. It's easy to sit on your hands and wait. Somewhat stressful to buy and very stressful to take profits...for me.

[jm2e]

So for you mags that are deeply entrenched in the game, what other smaller crypto currency’s are you into, (basically, other than BTC & ETH)? What factors do you consider and how significant are they in your portfolio?


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[tgapp]

So for you mags that are deeply entrenched in the game, what other smaller crypto currency’s are you into, (basically, other than BTC & ETH)? What factors do you consider and how significant are they in your portfolio?


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Mrs Tgapp likes crypto - we're not really idealogically into it, certainly not enough to argue about the impacts on global energy consumption or income disparity or a non-fiat currency on a ski forum; like many millennials our interest in crypto is equal parts curiosity, penny-stock gambling, and a desire to fuck over the financial institutions that have fucked us over so badly. And hey - I spend thousands of dollars every year on skis and dumb shit that definitely does not appreciate, so I'm happy to let her have her fun.

That said, she keeps a broad portfolio of coins, mostly HODLing them for fun. I asked her what she has right now and this is what she says:

Syntropy
Chainlink (mostly because ETH is her main squeeze)
Cardano (because proof of stake is the clear future)
Polkadot

Take all of these coin reccs with a grain of salt; her MO is she hears about a cool new coin, understands the problem that it is trying to solve in the market (or the technology it represents), and then she throws some money at it. All of the money we've put into crypto lately has been from a COVID19 Novavax study we did, which we didn't do for the money, and we didn't know where to spend it, so it went into crypto. Her portfolio is doing awesome, but again, we don't know what the fuck we're doing.

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[up an down]

So for you mags that are deeply entrenched in the game, what other smaller crypto currency’s are you into, (basically, other than BTC & ETH)? What factors do you consider and how significant are they in your portfolio?


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Here is my non-advice...I own ETHE.. The Grayscale Ethereum Trust. Grayscale also has a bitcoin trust...which I don't own.. I buy and sell ETHE in my IRA which is with Vanguard... So no capital gains tax issues..I want to be able to get in and out faster and cheaper than storing and buying and selling coins through a coin exchange...but.. I can only buy or sell during stock exchange hours..Not the 24/7 trade window of the coin exchanges..

[up an down]

Here is my non-advice...I own ETHE.. The Grayscale Ethereum Trust. Grayscale also has a bitcoin trust...which I don't own.. I buy and sell ETHE in my IRA which is with Vanguard... So no capital gains tax issues..I want to be able to get in and out faster and cheaper than storing and buying and selling coins through a coin exchange...but.. I can only buy or sell during stock exchange hours..Not the 24/7 trade window of the coin exchanges..

PS... The Grayscale trusts do not necessarily follow the price of coin in lock step....like today..Ethereum coin is currently up by a higher percentage than is ETHE..

[AKPogue]

So for you mags that are deeply entrenched in the game, what other smaller crypto currency’s are you into, (basically, other than BTC & ETH)? What factors do you consider and how significant are they in your portfolio?


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If you want to just have a little fun so you can call yourself a millionaire. Put a few bucks on safemoon. It's popular and I believe 2nd most watched crypto on coinmarketcap.com. It's currently at $.0000048 per coin so it won't take much to get a million of them. It's a new coin so it's only available on a few exchanges one being bitmart.

[stalefish3169]

Not advice! Just describing what I'm doing. Everyone has a different situation and NOBODY has a crystal ball.



Maybe we are going parabolic? Honestly, taking profits stresses me out. It's easy to sit on your hands and wait. Somewhat stressful to buy and very stressful to take profits...for me.

I hear that. I just try to schedule profit taking ahead of time to remove the emotional component. Still easier said than done though. I've sold about 1 ETH per month since January and definitely feel some fomo. But the feelings of gratitude are stronger.

So for you mags that are deeply entrenched in the game, what other smaller crypto currency’s are you into, (basically, other than BTC & ETH)? What factors do you consider and how significant are they in your portfolio?


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That's a hard question, but in a bull market, the trend is your friend.

FWIW, Wax is one of my moon bags. It's got the most popular dapp in all of crypto and a majority of the top 10 on https://dappradar.com/ and it's not even on page 1 of CMC. New collections just dropped from MLB, Weezer, Reebok, etc. and most people have still never heard of it. Been going through heavy consolidation for about a month but think the next leg higher is coming soon. But, not financial advice and DYOR.

https://twitter.com/krugermacro/stat...432483841?s=19

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[pureantigravity]

Here is my non-advice...I own ETHE.. The Grayscale Ethereum Trust. Grayscale also has a bitcoin trust...which I don't own.. I buy and sell ETHE in my IRA which is with Vanguard... So no capital gains tax issues..I want to be able to get in and out faster and cheaper than storing and buying and selling coins through a coin exchange...but.. I can only buy or sell during stock exchange hours..Not the 24/7 trade window of the coin exchanges..

Quick question for you then. When ETH goes POS, will there be a fork? Like when Eth and ETC split. So then, what is ETHE fund going to do? Do you get the tokens on each chain or will they just give you the new chain? Just wondering what ETHE is going to do in that instance with the assets under management. For all you know, the tax advantages of having it in the IRA via ETHE might not be as good as holding directly because you can keep the old chain and the new chain if you are directly invested.

I don't know. I'm just throwing that out to people based on how these things have gone in the past. Will existing miners lose a lot once it changes over to POS? What are they planning to do?

This is the first time a blue-chip crypto has gone from POW to POS, right?

[pureantigravity]

Bitcoin: Money that gamblers, pirates and tax evaders can use. Creator is a mystery.

OK - I get that.

Ethereum: Highly inefficient decentralized spreadsheets that enable programming bugs to take others money. A backup to Bitcoin in case the Fed takes our cheese. Creator has a HUGE pre-frontal cortex.

OK - I get that.

Attachment 373398

Um, nope. I don't quite get that. Billions are lacking economic identity??? And why the fuck is the guy in boxer shorts doing yoga on a sofa??? Dude looks like Homer Simpson. So they picked the ADA platform language so that people might think that 'absurdity equals advantage'? Perhaps. But doing yoga in underwear??? IMO this is going to dump hard when the bears awaken next.

Um, so that's my shitpost fortune telling prediction of the day. Don't blame me if you sell and it moons to high infinity. Not a false flag operation. I just don't get Cardano in any way.

[JimmyCarter]

Bitcoin: Money that gamblers, pirates and tax evaders can use.

OK - I get that.

Ethereum: Highly inefficient decentralized spreadsheets that enable programming bugs to take others money. A backup to Bitcoin in case the Fed takes our cheese.

OK - I get that.

Attachment 373398

Um, nope. I don't quite get that. Billions are lacking economic identity??? And why the fuck is the guy in boxer shorts doing yoga on a sofa??? Dude looks like Homer Simpson. So they picked the ADA platform language so that people might think that 'absurdity equals advantage'? Perhaps. But doing yoga in underwear??? IMO this is going to dump hard when the bears awaken next.

Um, so that's my shitpost fortune telling prediction of the day. Don't blame me if you sell and it moons to high infinity. Not a false flag operation. I just don't get Cardano in any way.

Well Hoskinson is the founder of Cardano, and also one of the founders of Ethereum, so either A) he doesnt think Ethereum is good and we should stick with Cardano, or B) he just saw how easy it was for him to get people to buy ETH and make him incredibly wealthy the first time around, so why not do it again?


Cardano is a blockchain platform for changemakers, innovators, and visionaries, with the tools and technologies required to create possibility for the many, as well as the few, and bring about positive global change.

With a leading team of engineers, Cardano exists to redistribute power from unaccountable structures to the margins – to individuals – and be an enabling force for positive change and progress.

[shera]

Quick question for you then. When ETH goes POS, will there be a fork? Like when Eth and ETC split. So then, what is ETHE fund going to do? Do you get the tokens on each chain or will they just give you the new chain? Just wondering what ETHE is going to do in that instance with the assets under management. For all you know, the tax advantages of having it in the IRA via ETHE might not be as good as holding directly because you can keep the old chain and the new chain if you are directly invested.

I don't know. I'm just throwing that out to people based on how these things have gone in the past. Will existing miners lose a lot once it changes over to POS? What are they planning to do?

This is the first time a blue-chip crypto has gone from POW to POS, right?

There were a lot of fork wars (and hash wars) over bitcoin, look up BSV (bitcoin satoshi vision) and BCH (bitcoin cash). LItecoin is an old fork of BTC. Anyone can fork code, it's open source in github.

In the early days there was some kind of hack in ethereum and they rolled back the blockchain to return the funds. Ethereum Classic (ETC) is the original chain and the fork is ETH as we know it today, see https://ethereumclassic.org/

As I understand it, when we go to proof of stake there will be code that makes mining astronomically difficult and not profitable. It will be interesting to see how all that plays out and where the miners go. Some miners own asics which will be forced to stick with the dagger-hashimoto algorithm while other miners (like me) use GPUs that are more general purpose. I understand Raven is currently paying well.

You ask an interesting question about the grayscale trust. Of course they will follow the Ethereum Foundation (Vitalik&Crew), but it is true that all forks will have coins in their wallets. We'll see how it goes.