391–400 of 405 posts
There is an idea! Slow-coin, all the hashes have to be calculated by hand and passed by mail. A kind of anonymous distributed sharia scheme. I think I just saved the US postal service. Beat that Kevin Costner. https://en.m.wikipedia.org/wiki/The_Postman_(film)
After all the years I'm still having trouble comprehending what Bitcoin - and Bitcoin in specific - is useful for aside from speculation. I get that Ethereum and several other cryptocurrencies have the ability to execute code on the blockchain, enabling useful applications, and that stablecoins could be used for everyday payment due to it not fluctuating wildly (at least in theory). As I understand it, Bitcoin has ne…
A decentralised, borderless, irreversible payments system, not tied to any state or government or bank, near-impossible for even the most powerful entities to censor or manipulate. There are some useful features in there.
After all the years I'm still having trouble comprehending what Bitcoin - and Bitcoin in specific - is useful for aside from speculation. I get that Ethereum and several other cryptocurrencies have the ability to execute code on the blockchain, enabling useful applications, and that stablecoins could be used for everyday payment due to it not fluctuating wildly (at least in theory). As I understand it, Bitcoin has ne…
Bitcoin is usefull as an entry point and a figurehead of the crypto world. Its fame fuels/advances other projects. It also has a historic value (first crypto currency). What was the first computer useful for? Probably for more than bitcoin today, but its value was not its usefulness at the time.
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Bitcoin can be a cautionary example for what happens when development grinds to a halt because of internal power struggles. Today, bitcoin's underlying technology is unable to evolve, other crypto currencies have surpassed it and bitcoin will probably be taxed or outlawed due to its contribution to climate change.
Bitcoin is digital gold. The technology of it needn’t evolve further than the technology of casting a gold ingot, storing it safely or transporting it. And FWIW, transporting $1M worth of gold in a secure way is going to cost you significantly more than BTC’s worst Tx fee day. Other coins can serve the purpose of everyday transacting etc.
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Your last statement is based on exactly zero data points. Let me provide one counter though: I couldn't give a rats ass whether you outmanouver me financially, I do care whether my child has a livable planet for his lifetime.
Sure thing ;)
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Ridiculous examples. BTC has been consistently up for a decade (or USD has been plummeting that long, depends how you look at it). > Where would you put your money now that bitcoin is 50k? BTC of course. USD is only going to continue to drop.
Let me give you an example: I invested a nice sum of money in November 2019. Option 1: BTC from 9300 to 48000 means 5x Option 2: TSLA from 62 (pre-split) to 796 means 12x. (much much more via calls) Which do you think I went for? Which strategy do you think will continue to make reliable money in the future?
What about November 2018 or November 2017? Like I said, Bitcoin has consistently been up in the long term for the past decade.
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Bitcoin can be a cautionary example for what happens when development grinds to a halt because of internal power struggles. Today, bitcoin's underlying technology is unable to evolve, other crypto currencies have surpassed it and bitcoin will probably be taxed or outlawed due to its contribution to climate change.
Bitcoin is digital gold. The technology of it needn’t evolve further than the technology of casting a gold ingot, storing it safely or transporting it. And FWIW, transporting $1M worth of gold in a secure way is going to cost you significantly more than BTC’s worst Tx fee day. Other coins can serve the purpose of everyday transacting etc.
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> For the past 10 years you could have kept your money in a savings account or Bitcoin. The classic false dichotomy by people peddling crypto. Nobody is keeping their money in a savings account. There are productive investments that aren't crypto.
What asset class has returned value like crypto for the past 10 years? None.
The risk profile of Crypto vs an index fund is exponentially worse.
What you should care about is what asset provides you the best return with the lowest risk.
At any time in history you can look back at the past ten years and say "Clearly X stock was the best choice for investors and you're foolish to claim otherwise!"
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Let me give you an example: I invested a nice sum of money in November 2019. Option 1: BTC from 9300 to 48000 means 5x Option 2: TSLA from 62 (pre-split) to 796 means 12x. (much much more via calls) Which do you think I went for? Which strategy do you think will continue to make reliable money in the future?
You're cherry picking a single point in time that happens to work with one stock (one might also argue the move to electric vehicles is actually a world changing event ala bitcoin). What about November 2018 or November 2017? Like I said, Bitcoin has consistently been up in the long term for the past decade.
SO you mean EXACTLY what you're doing with BTC?
I swear the BTC cult rivals the Qanon crazies in cognitive dissonance.