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

[dfinn]

Chump change compared to some of you I’m sure but I just happened to catch this. Wish there was a few more 6’s

[MontuckyFried]

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.

This is actually a HUGE potential benefit to the developing world. Will explain in a sec in response to dunfree...

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.

Sure, technically they "have a choice," but you're forgetting a MAJOR factor in the 3rd world that all too frequently holds people back. Corruption. Everyone from the local police to their countries' governments. I have a good friend from a poor Asian country. Lives in a rural village. Guy's doing amazing work serving his community in a wide variety of ways. He's built a thriving school, feeds the poor, etc. Anyway, he always told us NOT to send him money via mail because it would get intercepted. NOT to wire him money because same thing. Happened too many times to him and others. Anyway, my wife and other friends of ours would actually travel there to deliver by hand and spend time volunteering. Really great stuff. Anyway, a few years back the local police got mad. They had some sort of bogus charges saying he was "drug dealing" which is insta-jail in that country with some politicians there trying to push death penalty. Very serious charge. Anyway poor guy rotted in a 3rd world prison for about a year before we could get him out. Wrecked him but thankfully he got back to it doing good works. Great man.

I have other friends in Africa that it's also difficult to help out for the same reasons. Crypto may be JUST the ticket for getting money around the world without thieving bastards trying to get their hands on it. Really could be a game changer worldwide.

[MultiVerse]

There are also Fintech Apps for that: Remitly and Wise.

Remitly provides a mobile platform that helps users send money transfers from 17 countries, including the U.S., Canada and Ireland, to more than 100 receiving countries around the world. This includes Mexico, Russia, Egypt, Botswana, El Salvador, and Kenya.

A cheaper, faster way to send money abroad, Wise is an online money transfer service that moves $6 billion in cross-border transactions every month.

[Bunion 2020]

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.

Other than Crypto being the magic bullet to fix income inequality I agree with a lot of that. But a bunch of 1st worlders day trading on Cryoto is no different than taking a flyer on penny stocks or buying lottery tickets. No reason to apologize for you sincere beliefs BTW.

Crypto may be JUST the ticket for getting money around the world without thieving bastards trying to get their hands on it. Really could be a game changer worldwide.

Except for when it is used by people like those that just blackmailed a Pipeline and brought the SE US to a panic?

Thanks and I will bow out of this now.

[dunfree]

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.

That’s all true but 90%+ of the developing world has no need of engagement beyond their community region. All of the hard money/anti-inflation stuff doesn’t matter; the poor in Argentina were fucked no matter what. inflation killed the middle class.

you don’t need any of the crypto stuff for digital transactions. Alipay is huge for life in China but isn’t a currency. Hell europe or down under you just do direct bank transfers at very low cost unlike the shithole us.

there are some smart people good at making money into crypto - especially if they are into or good at trading/gambling, and there’s a ton of bullshit.

[MakersTeleMark]

ada at a dollar ish is cheap

Bump.

[byates1]

^ yep. i've got 1800 ada.

bought 250$ of eth @ 700 ish in the fall, converted that into ada the other day. in addition to the 1400$ the gov sent me. so 1800 ada cost me 250$ us. .06 a token.

go charles!

[pureantigravity]

What do you think? Big tax changes, even crypto-to-crypto is now taxable in many places.

[AKPogue]

What do you think? Big tax changes, even crypto-to-crypto is now taxable in many places.

It's going to zero now?

[pureantigravity]

Play nice AK. We're all in this shitshow together.
Counterpoint is INTEL as much as any of the bogus shit arguments made if favor of crypto here.
(Like the hilariously funny 'helping impoverished people with finance' BS that has made the rounds, and also made the rounds before in 2016-2017.)

Not sure if I posted this one before. Just for laughs.
https://9gag.com/gag/a1rKKZR

[pureantigravity]

Invest in popcorn (and butter).

[pureantigravity]

Peter McCormack goes on a 24 tweet rant thread re: Elon Musk

https://twitter.com/PeterMcCormack/s...71202738302986

Elon Musk responds appropriately.


Coiner starts throwing rocks in glass houses.

[pureantigravity]

If you want to ride the next wave, be in early on what will be in vogue after Proof of Stake happens.*
Clue: it won't have anything to do with 'proof.'
The little green dots on fiat paper bills are already the proof you need.
WeeChat. Alipay. Apple Pay. Google Pay. In 20 years, these will be used more than any other type of money transmittance in the world.
And the little fee they charge, times a billion transactions per day (already with WeeChat pay) will add up to a lot of corporate profits.
Get in on the ground floor!

*As if 9% of the circulating coins could somehow secure the populations money (proof of stake will eventually fail too). Of course, there are successful proof-of-stake networks out there that already worked real well, real well 4 years ago in fact. But they didn't pay ridiculous fees to exchanges to list their coin so they sit under 100 on the chart. DON'T BUY. Just saying! They made 1B tokens so even their 330M market cap is ridiculously bogus.

[pureantigravity]

What no one told you:

Microsoft has decided to shut down its Azure-based blockchain-as-a-service platform and is asking users to migrate their data to an alternative of their choosing. According to a blog post on Monday, the software giant has been quietly informing customers on the best way to jump ship by Sept. 10

So, that's #2 now in corporate world ... because IBM mothballed Hyperledger too. (and it was actually really good blockchain for the tech state!)

Not sure if I posted this one before. Just for laughs.
https://9gag.com/gag/a1rKKZR

Not sure if the nuance was clear here. I won't spoil it for you.

Time for a bike ride!!! Elon will always be there but a nice day won't.

[NWFlow]

Goodness gracious man haha. With how closely you seem to be tracking crypto you might as well day trade it or something even if you think it's shitty. What strange behavior.

[shroom]

ya dude sell out!

i respect the posterity

[pureantigravity]

Goodness gracious man haha. With how closely you seem to be tracking crypto you might as well day trade it or something even if you think it's shitty. What strange behavior.

LOL. I went on a bender. Been so quiet for a while. Had to get it out of my system!!! I did some day trading crypto in 2014 and in 2017. Learned a lot of things about the ecosystem, the exchanges. I designed and coded a myriad of systems (server, client, mobile, desktop) in 2002-2010. I also did software in crypto. I did some development for crypto chains -- my code was a large portion of the framework that actually secured 'billions' of mkt. In one instance, I found major vulnerabilities in the code. In another instance, I rewrote 50% of the code of the entire system in 3 months and made it more highly performant (100x better). At the time, I could design and code an entire app in 3 months that would cost 10 times as much and take 1.5 years to make. I noticed a few things with crypto. I got out of crypto. I've never looked back. I've never invested another red cent.

Some of you might make money, good money, in crypto (and actually cash out). The other 95% will be praying that god takes their crypto wallet and swaps it for an anal prolapse. My friends mom has recurring anal prolapse. I tell him, "just be glad she isn't invested in crypto'. LOL

First heard about BTC on a software forum in 2009. Knew about eth before it had sold the initial investment round. Never bought Bitcoin till $250. Bought my first Ethereum at 89 cents**. Rode out all the hacks. Even got headhunted by crypto firms for development work in 2017 to 2018. I mined ETH. It is a big waste of your home power outlets. I played with coding smart contracts. It is actually exceedingly boring and also has much room for error.

I got friend A that lost $35K (now $1M in paper gains if he had it). Friend B lost about $600K of paper gains (stolen right out of the exchange in 2017!). Friend C lost $2.5M in well known major exchange hack (now almost $250M in paper gains if he was able to sell today). Friend D made good money but he already had good money and he hasn't sold (all paper gains), and he is the only one that actually works in the tech sector. Friend B actually did the smart thing and bought the dip (was almost about to sell his home for crypto!) .... ahem ... except that it plummeted and he is still -90% in the hole today. Oh ya, friend E made about $5K on Kodakcoin (regular markets) before it plummeted.

I'm a perma-bear now. It will probably go to $100K .... now that I've said all I've said. LOL. It's still my hobby interest. I'll always have been a good server/client dev and always be interested in anything that puts 'decentralized' and those two ideas together. I don't recommend day trading crypto - even if you have experience. Most day traders fail in the regulated markets and most day traders in crypto (98% of them) fail quite badly. That's because, apart from 1 or 2 exchanges, front-running and other tactics are the norm not the exception.

Today, I'd be happier serving coffee than as a dev or in corporate. That is clear to me. I'll be the one old white guy at the McDonald's counter serving people with a smile that is 100% not interested in 'success' as defined by job titles and/or paychecks and positions.

I'm not against new tech, or blockchain (it might have some good uses, like online gambling with verified contracts - think any game where betting money is an option), but it won't work for 99% of apps right now. It needs some unknown cure to be more useful. Anything built on distrust (crypto is byzantine) is bound to be superseded by something built on trust (regulated and settled financial instruments).

Sorry .. I went on a bender there. I BLAME ELON!!!!

ELON YOU FUCKER! YOU DREW ME IN AGAIN! FUCK ELON!! LOL!!!



edit: **Discovered Ethereum from an old (70+) lady in a group we were entertaining over lunch in the Whistler Roundhouse. She was well connected to people in San Francisco and although no one wanted to talk about Bitcoin at the table (I was an evangelist back then), she was interested and said across the 20 foot table in an old lady voice, "If you are interested in Bitcoin, you should look up Ethereum." Just imagine that coming from an elderly lady on a hosted ski lunch. LISTEN TO IT IN YOUR HEAD WITH HER QUIVERING OLD LADY VOICE OVER A TABLE OF !@ OTHER PEOPLE WITH THE DIN OF BACKGROUND NOISE, LOUDLY: "If you are interested in Bitcoin, you should look up Ethereum. E.t.h.e.r.e.u.m." That being said, I did drink the Kool-Aid for a while on that. But Eth's success will lead it to self-destruct again, just like it did with CryptoKitties on blockchain. If there is a viable 'blockchain' app being designed that is actually good future tech, it is 100% guaranteed to never be listed on any crypto exchange. Real tech needs real investment, and that almost always comes from private investors with specialized knowledge from being closely affiliated with real boring scientists in real boring companies in real boring sectors (like quantum computing.) Quantum computing is real boring. The developments today won't be revealed for another 10 years. It is *that* secret.

[NWFlow]

Haha ok that actually makes sense! Carry on

[bennymac]

Ruh-roh. The nerd king has betrayed his cheerleaders.

[TahoeJ]

Elon is a douchebag. Just saying.

[bennymac]

That’s not news. But yes. And a troll.

[muted reborn]

Invest in popcorn (and butter).

Was circling the only comment really necessary to help people understand what’s going on?

[BobMc]

Circling it out in red would’ve made it a lot clearer, .

[muted reborn]

Circling it out in red would’ve made it a lot clearer, .

SkiCougar and a few others here would appreciate that.

[MakersTeleMark]

98765432



Alonzo is a morono when it comes to crypto.

You can quote me.