User Panel
Quoted: Hate miners. https://i.postimg.cc/BvXcn0mq/man-using-78-rtx-3080-gpu-to-min-crypto-feat.jpg https://i.postimg.cc/TP77t04P/Ep-AVAq-U0-AEAW3-T.jpg View Quote Do you heat your house with those? |
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Quoted: Paul is going to be left behind. View Quote Cryptocurrency, this time it will be different. I work in a sector that was going to be completely revolutionized by blockchain technology. After over a decade its a fart in the wind. At somepoint it may find a place, but there is no urgency for it. |
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The fact that literally every other ad on CNBC is for the grayscale Bitcoin trust, and CNBC is incessantly promoting Bitcoin makes me suspect of it. Seems like a trap
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Quoted: Do you heat your house with those? My electric bill was over $800 a month, and the mining farm in the basement actually did heat up the house lol. Drove the old lady nuts |
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Quoted: Probably is. Can't halt progress, Comrade. View Quote Sure they can and they will. Remember in US monetary policy history when citizens were prohibited from owning gold? That was our fore-father's version of crypto. If the state would do it for a commodity dont you think they will do it to something much easier to control? |
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Quoted: Sure they can and they will. Remember in US monetary policy history when citizens were prohibited from owning gold? That was our fore-father's version of crypto. If the state would do it for a commodity dont you think they will do it to something much easier to control? View Quote View All Quotes View All Quotes Quoted: Quoted: Probably is. Can't halt progress, Comrade. Sure they can and they will. Remember in US monetary policy history when citizens were prohibited from owning gold? That was our fore-father's version of crypto. If the state would do it for a commodity dont you think they will do it to something much easier to control? OK. Don't adopt then. Don't know what to tell you. It's a play for the future. Believe it has a value beyond its current valuation? Buy. Believe it's trash like cash? Don't. |
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Quoted: Sure they can and they will. Remember in US monetary policy history when citizens were prohibited from owning gold? That was our fore-father's version of crypto. If the state would do it for a commodity dont you think they will do it to something much easier to control? View Quote View All Quotes View All Quotes Quoted: Quoted: Probably is. Can't halt progress, Comrade. Sure they can and they will. Remember in US monetary policy history when citizens were prohibited from owning gold? That was our fore-father's version of crypto. If the state would do it for a commodity dont you think they will do it to something much easier to control? Our government is primarily composed of kleptocrats. They all have private lives and private investments at the end of the day. I'd far more expect to find out that they were in on it than to find out that they were trying to destroy it. Forgetting cryptocurrency for a second and just thinking about traditional investments, have you ever noticed how actual policy from both parties regularly favors asset holders despite all of the leftist rhetoric they spout off in front of the camera? I don't think it's any small coincidence. |
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Quoted: OK. Don't adopt then. Don't know what to tell you. It's a play for the future. Believe it has a value beyond its current valuation? Buy. Believe it's trash like cash? Don't. View Quote I understand the utility and convenience of it, and I would definately use it on a very short term basis if the need arises, provided it was still around. The problem is that people are invested into the sizzle of the ideology. History, and common sense economics, instructs us that the ideology is a fairytale. |
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Quoted: Can someone who is savvy with the Bitcoins help me out here? Im trying to buy some RAM on Newegg.com. I scan the QR code and get this: https://www.ar15.com/media/mediaFiles/338569/06F1DDEC-4D8D-475C-81CF-5F1E0CECEBF5-1777919.png “Insufficient funds” even though I clearly have more than needed for the sale. WTF? View Quote The price is so volatile there is a "cushion" in most exchanges needed to make a sale. They are worried that in the time it takes the txfer to go through the price of BTC will drop to where it won't be enough to cover the cost of the item. You probably need more BTC in your wallet. |
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Quoted: This. If you think the traditional finance sector isn't thinking of ways to incorporate Bitcoin. View Quote View All Quotes View All Quotes Quoted: Quoted: Quoted: Your going to get left behind boomers. This technology is as important as firearms for preservation of personal freedom. Firearms didn't start out as block IIs. They were slow to reload and unreliable yet even as archaic as they were they proved superior to the competing tech. As blockchain evolves, it will be lethal to the traditional financial sector. No it won't. If you think the traditional finance sector isn't thinking of ways to incorporate Bitcoin. Kind of like how ICE (owners of the NYSE, other exchanges, all of which is owned by Kelly Leoflers husband) just spun out "BAKKT" for that purpose. |
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I've seen that one before. I wish I was an early adopter. I remember researching VPN's back in 2011 or 2012 and one of the payment methods was BTC. It confused me and seemed like a scam. What an idiot I am, I'd be long retired and living it up if I researched it further back then. |
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Quoted: I've seen that one before. I wish I was an early adopter. I remember researching VPN's back in 2011 or 2012 and one of the payment methods was BTC. It confused me and seemed like a scam. What an idiot I am, I'd be long retired and living it up if I researched it further back then. View Quote Friend of mine is worth over a million now because he made a small investment around 2011/2012. |
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Quoted: Kind of like how ICE (owners of the NYSE, other exchanges, all of which is owned by Kelly Leoflers husband) just spun out "BAKKT" for that purpose. View Quote Moving the corp. address from the Cayman Islands to...................................................the State of Delaware |
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Quoted: Agreed. Our community should absolutely embrace this tech as increasingly payment systems become a vector of attack. No stopping a BTC transaction by a bank, .gov, or otherwise. View Quote What if the .gov takes out the exchanges like coinbase? What is Bitcoin worth then? Converting Bitcoin to cash seems to be the weak point. As far as I've seen, most places that sell tangible goods and accept Bitcoin are really only having the Bitcoin converted to dollars when the transaction takes place. Bitcoin is a great vehicle for speculation, but it isn't very good at what it's supposed to do. It doesn't work as a currency because it is inefficient and can't handle the number of transactions necessary for even a small fraction of the population to use it day to day. I can see crypto being used in the future, but the only thing Bitcoin has going for it is name recognition and being the first to be established. In the technology world that isn't good enough to stick around long term. Look at the history of the internet in the last 25 years. Where are netscape, askjeeves, aol, yahoo, geocities, and myspace now? |
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Quoted: The price is so volatile there is a "cushion" in most exchanges needed to make a sale. They are worried that in the time it takes the txfer to go through the price of BTC will drop to where it won't be enough to cover the cost of the item. You probably need more BTC in your wallet. View Quote It would be nice if there was some indication of how much the cushion might be before I get to the payment. Any idea how I might calculate the amount of coin that I will be allowed to spend at any given moment? I gotta say, I thought giving bitcoin a try would be a positive experience from everything I've read. From the very start it has been nothing but a huge pain in the ass. From the rectal exam they give you to open the account, to the delay getting money to show up that I transferred from my bank, finding out that you can't simply transfer money back to the same bank, the account showing funds are there but not "available" yet, and it sounds like due to a "volatility cushion", there will always be some amount of coin that I will never be able to spend. It won't even let me transfer the exact amount between bitcoin and bitcoin cash in the same wallet. So far I'm not impressed one bit (pun intended) and if they ever want to be a widespread mainstream form of currency, they will need to become a hell of a lot more user-friendly. It goes something like this: Average Joe sees $90 on his bitcoin wallet screen. Average Joe wants an item that's $80. Average Joe is told he can't buy it due to insufficient funds. Average Joe says fuck bitcoin and the horse it rode in on. |
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Quoted: It would be nice if there was some indication of how much the cushion might be before I get to the payment. Any idea how I might calculate the amount of coin that I will be allowed to spend at any given moment? I gotta say, I thought giving bitcoin a try would be a positive experience from everything I've read. From the very start it has been nothing but a huge pain in the ass. From the rectal exam they give you to open the account, to the delay getting money to show up that I transferred from my bank, finding out that you can't simply transfer money back to the same bank, the account showing funds are there but not "available" yet, and it sounds like due to a "volatility cushion", there will always be some amount of coin that I will never be able to spend. It won't even let me transfer the exact amount between bitcoin and bitcoin cash in the same wallet. So far I'm not impressed one bit (pun intended) and if they ever want to be a widespread mainstream form of currency, they will need to become a hell of a lot more user-friendly. It goes something like this: Average Joe sees $90 on his bitcoin wallet screen. Average Joe wants an item that's $80. Average Joe is told he can't buy it due to insufficient funds. Average Joe says fuck bitcoin and the horse it rode in on. View Quote |
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Quoted: The real value of BTC was that it was untraceable. After the last pedo ring got busted, it is literally worthless and purely speculative. Blockchain has further to go... Proceed with extreme caution. View Quote I know essentially nothing about bitcoin and just assumed it was untraceable. Never bought any and the price now seems ridiculous for it to be useful for buying anything anyway. Still help me understand: Some pedoring was tracked through bitcoin and busted? So it became traceable? Or it never was untraceable? The real question is, even if it is 100% traceable, can it be used to make legal purchases from "companies who aren't sufficiently woke" who get deplatformed by their banking institutions? As long as that is possible, then it (or a substitute) is still useful. |
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Quoted: I understand the utility and convenience of it, and I would definately use it on a very short term basis if the need arises, provided it was still around. The problem is that people are invested into the sizzle of the ideology. History, and common sense economics, instructs us that the ideology is a fairytale. View Quote View All Quotes View All Quotes Quoted: Quoted: OK. Don't adopt then. Don't know what to tell you. It's a play for the future. Believe it has a value beyond its current valuation? Buy. Believe it's trash like cash? Don't. I understand the utility and convenience of it, and I would definately use it on a very short term basis if the need arises, provided it was still around. The problem is that people are invested into the sizzle of the ideology. History, and common sense economics, instructs us that the ideology is a fairytale. If you are so sure, you should short it. You'll be laughing all the way to the bank. |
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Quoted: I know essentially nothing about bitcoin and just assumed it was untraceable. Never bought any and the price now seems ridiculous for it to be useful for buying anything anyway. Still help me understand: Some pedoring was tracked through bitcoin and busted? So it became traceable? Or it never was untraceable? The real question is, even if it is 100% traceable, can it be used to make legal purchases from "companies who aren't sufficiently woke" who get deplatformed by their banking institutions? As long as that is possible, then it (or a substitute) is still useful. View Quote Bitcoin is traceable. There are cryptos out there designed to be anonymous/untraceable like monero and pirate chain. |
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Quoted: Can someone who is savvy with the Bitcoins help me out here? Im trying to buy some RAM on Newegg.com. I scan the QR code and get this: https://www.ar15.com/media/mediaFiles/338569/06F1DDEC-4D8D-475C-81CF-5F1E0CECEBF5-1777919.png “Insufficient funds” even though I clearly have more than needed for the sale. WTF? View Quote You are not going to have enough to send the funds and cover the mining fee for the transaction. The mempool is backed up. https://bitcoinfees.earn.com/ and to confirm in 1 block you need about $6.00 to $8.00. Now is not the time for small transactions. Also you will probably regret that transaction. |
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I have about a couple thousand $ in Bitcoin and a couple etherium in my Coinbase account.
That’s all I can afford right now. It just sits there for a rainy day I suppose, much like my meager gold eagles and silver eagle coins. Probably 5% of my savings in PMs or crypto just to have something. |
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Quoted: Take the guy who lost the password to his wallet and only has two guesses left before $220 million in Bitcoin is locked out permanently. There are a finite number of Bitcoin so removing those coins from the environment shrinks the supply as they cannot be replaced. Perhaps no different than losing $220 in gold bars in the Mariana Trench but at least that can be recovered eventually. View Quote Yeah I don't know how that's going to be addressed. What is there something like 21 million potential Bitcoin? That number is going to consistently shrink due to people losing them. I can't even imagine what has been lost already. So the number is no doubt shrinking (at least once it's all mined). So due to scarcity it would seem like the value would increase, but eventually if the circulating quantity gets too small you'd think it would really lose value. Like all of its value right? |
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I have a small allocation in my portfolio for bitcoin. It's a speculative play, I'm in with eyes wide open, and basically betting that there will be a greater fool that comes around to unload on.
I don't like the sound of it but I'm probably one of the more hardcore when it comes to investing in general. Last thing I do before closing my eyes at night is look what futures are doing, same with first thing in the morning. Have numerous brokerage accounts at numerous brokers for a variety of reasons ranging from margin rates, margin call policies, and access to foreign exchanges and futures products. Having watched how the nascent crypto exchanges, their order books, I'm convinced 100% it is a dream come true for high speed trading firms and whales. The volatility is perfect to knock out small time weekend warriors and liquidity is thin enough that it's trivial for HFT/whales to manipulate it, they can easily soak up all the marketable orders and move the price how they want and it looks they're experts at flushing out all the little guys' stop losses only to reverse seconds/minutes after they got themselves a bargain. The only way for regular people to successfully hang is to transact on long timescales. The other eye opening thing is that the anonymity that is always touted is a lie. You're never going to be exchanging meaningful sums of crypto for dollars, in a reliable/safe way, anonymously, these days. If you've never dabbled in crypto, go buy some, you'll see right away that there's not going to be anonymity as a US citizen, residing in the US, buying/selling of any meaningful sum unless you're buds with some whale that's willing to be your personal market maker. The only way that changes is when you can buy a coke at 7-11 with it. But then that fantasy will quickly disappear the first time you send ETH or BTC anywhere and pay ass rape casino strip club ATM-like fees. But, it's a decent asset class for long term investing, especially in a tax advantaged account. |
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All I can say is if you accrue $220M in your Bitcoin wallet remember the fucking password.
https://www.nydailynews.com/news/national/ny-220-million-bitcoin-cant-remember-password-20210113-rkzp4tsm5rfmnjbgd3ngzyawum-story.html |
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Quoted: If you are so sure, you should short it. You'll be laughing all the way to the bank. View Quote I am a disciplined investor, not a speculator. It is a mathematically certainty that the majority of the people that speculate in it will not come out as winners. And you never win if you don't take your profits. At the end of the day it is fool's gold, but as long as there are suckers willing to buy, it serves a useful purpose. |
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I've seen so many people that don't even understand it say how its going to 200k, how it's the next big thing, how it wont fail, etc. (Now that they have $$ in it)
It smells like fear...these people dont want it to go up, they NEED it to go up - they have too much at stake. I'm all for making money but theres so much FOMO and false future tellers. (I've had btc since 2012 and been through the huge crashes) |
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Can't own bitcoin is the commies shut off your power and can't access your bitcoin accounts
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Quoted: Quoted: Your going to get left behind boomers. This technology is as important as firearms for preservation of personal freedom. Firearms didn't start out as block IIs. They were slow to reload and unreliable yet even as archaic as they were they proved superior to the competing tech. As blockchain evolves, it will be lethal to the traditional financial sector. No it won't. Yup, .govs will be banning it everywhere before you've already lost your |
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well thanks
you guys quickly talked me out of moving some money to this |
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Quoted: whatever happened to gold and silver? View Quote "conservatives" bought into the economic destruction of Obama. When Trump was elected, they believed everything would be okay. But nothing has changed, the overall economic policies and trajectory have not changed. Russia now holds more gold than dollars in reserves. China is dumping treasuries and competing for loans from countries that typically buy US bonds. |
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when BTC was hovering a couple grand people here were trying to be cute with posting tulip bulb pictures or little memes...we're now about $37k past that point.
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.gov could absolutely shutdown bitcoin whenever they want. Remember Napster and Kazaa? It really wouldn't be hard to find the miners in the US and the US exchanges could be shut down.
Bitcoin specifically, is extremely risky. It is a cornered market--0.00002% of bitcoin holders control 40% of the bitcoins, and 0.5% of bitcoin holders control 5 out of 6 bitcoins in existence. If a few of them decide to sell, watch out below. |
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Quoted: .gov could absolutely shutdown bitcoin whenever they want. Remember Napster and Kazaa? It really wouldn't be hard to find the miners in the US and the US exchanges could be shut down. Bitcoin specifically, is extremely risky. It is a cornered market--0.00002% of bitcoin holders control 40% of the bitcoins, and 0.5% of bitcoin holders control 5 out of 6 bitcoins in existence. If a few of them decide to sell, watch out below. View Quote Lol, no. Interesting copy and pasta though. |
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Has anyone got some good reads/references for hardware wallets? Experiences?
That seems to be the next logical step once on an exchange and understanding the basic premise of cryptos. |
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Quoted: You are not going to have enough to send the funds and cover the mining fee for the transaction. The mempool is backed up. https://bitcoinfees.earn.com/ and to confirm in 1 block you need about $6.00 to $8.00. Now is not the time for small transactions. Also you will probably regret that transaction. View Quote 6-8 dollars to cover a transaction processing fee. Seriously, Bitcoin fails at its core tenet of being a means of exchange. Why is the poster going to reget that transaction? |
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Quoted: 6-8 dollars to cover a transaction processing fee. Seriously, Bitcoin fails at its core tenet of being a means of exchange. Why is the poster going to reget that transaction? View Quote Were only in the first inning. Soon major exchanges will fix the latency with a credit card bridge. This will be an easy way to spend your crypto but with a middle man in the form of CC carriers. Consider them a 2nd layer if you will, but one that is centralized. In this case an exchange will just deduct the BTC from your account without having to do a transaction and assc mining fee. As we move forward other layer 2 solutions which are decentralized will become bigger and more liquid. These will allow sending of BTC with no wait and a microfee vs the large mining fee. The CC processor middle man is simply a stopgap until the decentralized systems are in place. We are in the first inning. Buy now or get left behind. |
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The volatile swings are part of the process of price discovery.
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Quoted: Were only in the first inning. Soon major exchanges will fix the latency with a credit card bridge. This will be an easy way to spend your crypto but with a middle man in the form of CC carriers. Consider them a 2nd layer if you will, but one that is centralized. In this case an exchange will just deduct the BTC from your account without having to do a transaction and assc mining fee. As we move forward other layer 2 solutions which are decentralized will become bigger and more liquid. These will allow sending of BTC with no wait and a microfee vs the large mining fee. The CC processor middle man is simply a stopgap until the decentralized systems are in place. We are in the first inning. Buy now or get left behind. View Quote So essentially bitcoin is going to replace the banks exchange ledgers? I thought Bitcoin was supposed to replace the entire financial system? What value does that provide me as the comsumer? What happens if I dont get on the train? |
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Quoted: Having watched how the nascent crypto exchanges, their order books, I'm convinced 100% it is a dream come true for high speed trading firms and whales. The volatility is perfect to knock out small time weekend warriors and liquidity is thin enough that it's trivial for HFT/whales to manipulate it, they can easily soak up all the marketable orders and move the price how they want and it looks they're experts at flushing out all the little guys' stop losses only to reverse seconds/minutes after they got themselves a bargain. The only way for regular people to successfully hang is to transact on long timescales. View Quote I can confirm this trying to trade small time frames. |
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