Results 4,151 to 4,175 of 16066
Thread: Bitcoin....who's gotten into it?
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05-13-2021, 11:01 PM #4151
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05-14-2021, 07:46 AM #4152I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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05-14-2021, 08:37 AM #4153
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05-14-2021, 09:28 AM #4154
Not talking about the article, more the sentiment.
I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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05-14-2021, 09:50 AM #4155
I got a chuckle out of this line...
Prominent Ivy League economist Jeffrey Sachs has said that Bitcoin offers “nothing of social value,”
Ha. As if the majority of investment firms and hedge funds provide any social value whatsoever. More often than not they cause more harm to real companies and workers than anything.
Having said that, just like gambling on sports, your financial decisions should be devoid of emotion or you'll get burned eventually.I ski 135 degree chutes switch to the road.
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05-14-2021, 10:00 AM #4156
Solid read reflecting the true reality for the developing world. The non-rich in Kenya and much of Africa have been empowered by M-pesa over the last 15 years. Hopefully crypto+blockchain will empower and help equalize things further.
After a decade of dragging my feet on Bitcoin, I finally dipped a toe into crypto yesterday. Total bandwagon, johnny-come-lately move, but it's now or never right???
$300 split between BTC, ETC, ETH and DOGE and the first 24 hours have been fun to watch.
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05-14-2021, 10:02 AM #4157
Jeffrey Sachs just says that because no one has paid him to say crypto’s great yet.
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05-14-2021, 11:09 AM #4158
If anyone hasn't heard of M-pesa, it's a Fintech that uses SIM cards in mobile phones for proof-of-transaction banking via SMS with your phone number acting as your 'wallet' or 'account.'
As with M-pesa, there's convergence between DeFi and traditional banking in developed countries too. For example, decentralized lender Aave is adopting KYC (know your client) and anti-money laundering guidelines. Doctrinaire crypto folks don't like it because it's not strictly decentralized but that's what it takes if you want to do payments and interact with the real world in regulated countries.
https://cointelegraph.com/news/defi-...r-institutions
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05-14-2021, 11:22 AM #4159
Okay, I am not trying to be a Pure Gravity troll, I understand the potential utility of block chain tech. But there are so many "coins" why would or should we hitch our wagons to BitCoin and not one of a thousand others that are much less energy intensive. It kind of feels like tulip mania.
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05-14-2021, 11:27 AM #4160______
- Join Date
- Aug 2020
- Posts
- 1,218
I remember running across M-pesa in Kenya 10-12 years ago and thinking it was sort of mind blowing they had this in Kenya but we didn’t have anything comparable in NA.
Musk just basically said Bitcoin unfeasible to use it in a climate friendly way so is abandoning taking it as payment.
Does quantum computing solve this issue?
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05-14-2021, 11:32 AM #4161
my experience is old, but plenty of the developing world in Asia or s. America had access to dollars or gold(India is the single largest gold market, you could buy or sell it in.any half large community) or other hard(Er) currency. There’s advantages to digital as mobile spreads, but the coinbro narrative that there was no choice ain’t true.
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05-14-2021, 11:35 AM #4162
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05-14-2021, 12:03 PM #4163
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05-14-2021, 12:06 PM #4164
I've read Elon's tweet several times now and maybe I've got rose colored glasses but I like what he said. He specifically targeted coal. If we could just shut down all the coal plants in the usa, then electric cars and bitcoin miners could start getting on the right side of things. Then hit it green energy from the other side with massive solar/wind farms with large scale storage like what they did in Australia and hydro and nuclear, and let oil and gas shrink in a more organic way because is it so political here.
Anyway, I see a path and Elon is smarter then me.Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-14-2021, 12:07 PM #4165
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05-14-2021, 12:27 PM #4166
Yes to civilized conversation. No to blind devotion (not targeting this towards you Shera).
Elon is smart but also a troll. With a massive level of influence.
Interesting that a lot of people are confused - “he put 1.5B in! How can he then criticize it?!”
What is 1.5B to him? Seriously - look at the bigger picture. That’s like a millionaire putting $10,000 into doge and then saying “ha I’m just playin this actually is a stupid coin”
If you missed that point you should evaluate if you’re paying enough attention to what is driving your confidence - that one was a gimme.
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05-14-2021, 12:44 PM #4167
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05-14-2021, 12:46 PM #4168
Good point. I was wrong about where the investment $ came from.
He’s still trolling us all - for his benefit.
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05-14-2021, 12:52 PM #4169
I'm a novice on crpyto, but I think: more options that are essentially universal = better and crypto/digital currency brings more control into the user, at any economic level, to interact and engage with the larger digital and/or global economy. The accessibility of gold, as an alternative to rupee in India is benefit, but you've got a jump through a few hoops to turn that asset into a usable currency for engagement beyond your community/region/country. If the world continues to globalize, digitize and conform to shared standards, the developing world shouldn't be left behind.
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05-14-2021, 01:05 PM #4170
You are thinking straight! Keep reading and studying. Read the white paper, don't dismiss btc out of hand, it is utterly important. It keeps the rest of the community "honest" and it is the bar to rise above. Simultaneously, engage intellectually with all the exciting things that are happening the space. I am so infatuated with chainlink, giddy, hahaha.
If you are investing, please start slow, don't let fomo wreck you. I started with what I called "the $100 plan" in 2018 with alts and they all lost 95%, what a joke. I also spent time and money on mining hardware and finally hit pay dirt with bitcoin mining last year and eth this year. I first purchased a small amount of bitcoin early in 2017 and now, 4 years later, finally I've built up a series of real successes. I'm still not rich, but I'm doing ok and I have a level of confidence and maturity.
So take it slow! Likely you will not get rich this cycle, but you can gain a foothold. It's still early days.Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-14-2021, 01:19 PM #4171
Interesting POV.
Here is the thing, most folks posting here are into Crypto because they want to increase their personal wealth and if as a by product some folks in the 3rd world manage to benefit that is a nice outcome. That said all this with BTC and ETH the rest of Crypto is speculation in hopes of making a killing. Good luck to you all but spare me the good of society song and dance. ETA *** Not directed specifically at you ***
Same reason I am in the stock market, to increase my personal wealth.I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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05-14-2021, 01:28 PM #4172
Even in the first world we have serious problems with the rich getting richer. The wealthy have built such a powerful moat and crypto is one way to breach it. In the USA, we have this ludicrous red vs blue situation, a successful redirect of the real battle between the haves and the have nots. Sorry to get political, but many people in crypto want to win this fight and realize the american dream and the promise written into the constitution. In that matter we are on the same side as all the "brown" people everywhere here and abroad. You have been played if you think otherwise.
Sorry for rant, but there it is.Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-14-2021, 01:32 PM #4173
All the more reason then to move away from Proof-of-Work crypto like bitcoin and adopt efficient crypto technology instead. Because poor air quality largely from fossil fuels is responsible for 1-in-5 infant deaths in sub‑Saharan Africa and is also, one of, if not the leading cause of life years lost in adults.
You yourself said energy demand is increasing so "deal with it." As long as demand is increasing faster than renewables are being brought online then "getting on the right side of things" is a nonstarter unless we also find ways to do more with less, not more with more.
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05-14-2021, 01:48 PM #4174
Are you trying to claim that bitcoin mining is causing infant deaths in Africa? jeebus
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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05-14-2021, 01:50 PM #4175
Are you unaware of the enormous harm caused by air pollution in third world countries? The poor air quality in China where most of the world's bitcoin mining takes place?
It would be hyperbole to blame all of that on bitcoin but you're acting as if it doesn't matter.
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