Cryptocurrency

[Frozenbeernuts 1,652]

12 minutes ago, nobody said:

Through page 84.

Beernuts entered a trading bot phase midway through 2020 and then seems to have disappeared.  No insights yet.  

Correct. I didn't start studying bitcoin until early 2021. I ended up selling all of my bitcoin in October of 2020 having given up on it at the time. It wasn't until the price rocketed back up that i really started to wonder why this internet magic money hadn't died yet. Then once it hit me I couldn't unsee it. It was a massive mistake on my part that cost me. I should own more than I do, but that's also what happens to most people who end up investing in bitcoin

[nobody 2,038]

On 4/7/2021 at 2:56 AM, Frozenbeernuts said:

There is no buying enough. $59k/ coin is nothing. NBA players in Sacramento can be paid in bitcoin. We are still early in adoption

 

On 4/7/2021 at 6:56 AM, Frozenbeernuts said:

Bitcoin will be worth over $1m / coin eventually. You obviously haven't read anything legitimate on bitcoin. In the future when bitcoin is considered one of the more stable and important currencies, people will ask themselves, Why didn't I at least just put $1k into it?

And we're back baby!  Page 95.  Beernuts clearly spent his time away doing the research that he's sure no one else has done.  He came in hot right off the bat.  I think we're entering a Bitcoin truther phase. 

This looks like we might've reached supreme expert status. 

[Frozenbeernuts 1,652]

Just now, nobody said:

 

And we're back baby!  Page 95.  Beernuts clearly spent his time away doing the research that he's sure no one else has done.  He came in hot right off the bat.  I think we're entering a Bitcoin truther phase. 

This looks like we might've reached supreme expert status. 

Nope. Not an expert. Just more informed than most here.

[nobody 2,038]

On 4/7/2021 at 10:09 AM, Frozenbeernuts said:

I wouldn't be so sure about that. Right now its inefficient, but the lightning network is making micro transactions more feasible. Plus programmers are working on more efficient systems for transactions constantly. Or bitcoin is the storage and Satoshi's are the currency. Whatever it is, its going to still grow exponentially in value.

How many people thought it couldn't get to 60k? Its at 60k and look at how small the adoption is globally still. 

A bit of a crack in the armor here if I'm reading this right.  A Satoshi is just a unit of Bitcoin.  They aren't materially different.  This post would be like saying a $100 dollar bill is a storage of value while a penny is currency.  

"Whatever it is, it's still going to grow exponentially in value."  Definitely not a statement that would articulate any sort of well defined vision.  It's essentially saying, "Trust me.  It's good."

Lightning network is a key component, of course.  It's really the potential ecosystem built on top of Bitcoin enabled blockchain and the potential for mass adoption of that ecosystem that defines the total addressable market which in turn would drive the value of Bitcoin.  

Treating Bitcoin itself as the endgame was and is always part of the problem.  It was too reductionist to be a convincing investment thesis, and that is the current tone of the insights at this point, but I can see it starting to congeal.  

[Frozenbeernuts 1,652]

4 minutes ago, nobody said:

A bit of a crack in the armor here if I'm reading this right.  A Satoshi is just a unit of Bitcoin.  They aren't materially different.  This post would be like saying a $100 dollar bill is a storage of value while a penny is currency.  

"Whatever it is, it's still going to grow exponentially in value."  Definitely not a statement that would articulate any sort of well defined vision.  It's essentially saying, "Trust me.  It's good."

Lightning network is a key component, of course.  It's really the potential ecosystem built on top of Bitcoin enabled blockchain and the potential for mass adoption of that ecosystem that defines the total addressable market which in turn would drive the value of Bitcoin.  

Treating Bitcoin itself as the endgame was and is always part of the problem.  It was too reductionist to be a convincing investment thesis, and that is the current tone of the insights at this point, but I can see it starting to congeal.  

My point was that if bitcoin is as valuable as I believe and it gains mass adoption, you won't be paying in bitcoin because the value would be too great. You would be paying in satoshi's or sats. You wouldn't say I will give you .00000123 bitcoin. You would say I will pay you 123 sats.

[nobody 2,038]

I'll also comment, there is a heavy Michael Saylor tone in the posts around these times in the 90s.  I'm thinking the research probably included a lot of Saylor YouTube videos.

One thing about Saylor is he's a sociopath.  Sociopaths can be right about things of course, but I'd be careful taking what they at face value since their motives aren't always clear.  Saylor's motive is to make money.  His motivation is to hype Bitcoin in order to get more investors which in turn increases his wealth.  That doesn't mean Bitcoin is bad by any means.  Just understand the Saylor would happily slit your throat if it benefited him.

[nobody 2,038]

You also have to understand for those of us that participated in this thread from the beginning, your reputation at this point in the thread (page in the mid-90s) is that of someone who is chasing a quick buck and is easily influenced by others.  

So when you come in after your absence in which you did your research purporting that everyone else is ill-informed, consider your history in this thread to that point.  

[Frozenbeernuts 1,652]

4 minutes ago, nobody said:

You also have to understand for those of us that participated in this thread from the beginning, your reputation at this point in the thread (page in the mid-90s) is that of someone who is chasing a quick buck and is easily influenced by others.  

So when you come in after your absence in which you did your research purporting that everyone else is ill-informed, consider your history in this thread to that point.  

Sure that's fair. But I have done a ton of research since. I had no idea what I was talking about in the beginning and I was trying to just make money. My entire view point has shifted and I have the research to back up what I'm talking about.

On Saylor, I do not get the impression he is a sociopath. Even he was anti bitcoin at one point. He is an engineer and thinks like one. Very analytical and practical. Maybe his motives are hidden, but if we can take his words at face value, he isn't selling his bitcoin just to make money. He believes in the bitcoin network and the rules around it. He believes it's a much more sound financial system and money

[Frozenbeernuts 1,652]

Get your coins off of Binance

 

https://twitter.com/NeilJacobs/status/1603487546239057920?t=rark5L26YU2tNaUzdZzEAA&s=19

[Frozenbeernuts 1,652]

8 hours ago, nobody said:

I'll also comment, there is a heavy Michael Saylor tone in the posts around these times in the 90s.  I'm thinking the research probably included a lot of Saylor YouTube videos.

One thing about Saylor is he's a sociopath.  Sociopaths can be right about things of course, but I'd be careful taking what they at face value since their motives aren't always clear.  Saylor's motive is to make money.  His motivation is to hype Bitcoin in order to get more investors which in turn increases his wealth.  That doesn't mean Bitcoin is bad by any means.  Just understand the Saylor would happily slit your throat if it benefited him.

What lead you to believe Saylor is a sociopath?

[WhiteWonder 2,171]

On 12/14/2022 at 4:14 PM, Frozenbeernuts said:

 Instead of actually researching something that has the potential to change their lives, they just use their feelings as their research base

says someone who most often posts with their feelings on the topic... meaning all those times you went off on a rant if someone didn't completely agree with you, even though you admittedly knew nothing before your early 2021 research. Even then, you claim you started researching bitcoin in early 2021... but there are documented posts of you talking like an expert as early as April 2021... That's some crash course you gave yourself. 

I tend to agree with Nobody. Your expert opinion... sorry, let me rephrase. NOT an expert just more educated than most, is really just regurgitated YT vids. 

 

and I have no issue with bitcoin or crypto as an investment for money making purposes, what does make me laugh is the super pro crypto crowd and the ever changing song and dance around why BTC is the best thing ever...

it's the future of money! it's going to replace fiat!

well.... it's a really awesome technology play!

well..... it's a hedge against inflation!

it's the future of money again!

[Frozenbeernuts 1,652]

13 minutes ago, WhiteWonder said:

says someone who most often posts with their feelings on the topic... meaning all those times you went off on a rant if someone didn't completely agree with you, even though you admittedly knew nothing before your early 2021 research. Even then, you claim you started researching bitcoin in early 2021... but there are documented posts of you talking like an expert as early as April 2021... That's some crash course you gave yourself. 

I tend to agree with Nobody. Your expert opinion... sorry, let me rephrase. NOT an expert just more educated than most, is really just regurgitated YT vids. 

 

and I have no issue with bitcoin or crypto as an investment for money making purposes, what does make me laugh is the super pro crypto crowd and the ever changing song and dance around why BTC is the best thing ever...

it's the future of money! it's going to replace fiat!

well.... it's a really awesome technology play!

well..... it's a hedge against inflation!

it's the future of money again!

Again, correct. I'm not the expert. I'm relaying what I have learned and I have deemed to be credible. When the light bulb went off, when the aha moment happened, that was when I started talking about it superficially. There are some very basic factors in bitcoin that lead me to agree with the people who think it's revolutionary

It was created anonymously. The creator disappeared and didn't take an ounce of public credit.

He created bitcoin because he was sick of the state having complete control over money, specifically because the state will always abuse this power to the detriment of the people. In fact, the problem is so bad that many people theorize that if the money was fixed we could fix so many issues that plague society. Money is the most important thing society has, so the consequences of manipulation are drastic. I'm sure you know this

There is a hard cap of 21 million. The most important tool that the state has in controlling money is the ability to print when it sees fit. This is inflation, and the result is the value of our savings evaporating at whatever rate the pool of money is inflated. The only way to remove printing is to create a hard cap.

Next is consensus rules of bitcoin. They are enforced by a decentralized group of nodes. Even if the core developers in bitcoin decide they want to change a rule, anyone who disagrees with that rule can ignore that change and continue the previous version of bitcoin. There was something called the block size war where big tech, miners, and some devs were all conspiring to increase the block size, which would result in a block chain that required too much memory for the average computer to run. That would centralize the nodes into data server owners basically who could afford to store all of that information. Who won out? The nodes who overwhelmingly voted No. The little decentralized guy won out against the power players thus forking bitcoin to bitcoin cash, bitcoin Satoshi vision, and a few more. The forks becoming obsolete

Satoshi put a bunch of different advancements and ideas together to develop the proof of work system used by bitcoin. Where the difficulty adjustment keeps bitcoin issuance on schedule (approx every 10 minutes) and it also created an internal decentralized clock that can order transactions properly, solving the oracle problem that requires a centralized service to keep track of time. He also solved the Byzantine Generals problem with this

He secured all of this with un hackable encryption.

So what does all this mean? It means that I can send bitcoin to anyone in the world With a valid bitcoin address. No one can stop it or intercept it. Still to this day sending money internationally, or paying while traveling abroad is a pain with the existing fiat system. Bitcoin solved this. It's also removing the third party fx fees.

Creating a money that is not censorable, can be sent anywhere in the world within minutes (seconds or even faster than Visa over lightning, but Satoshi didn't develop lightning), has an set of rules that cannot be changed on your own node, and cannot be hacked was never done before. Satoshi invented it. It's revolutionary because it had never existed until now. If you don't think it's revolutionary then you just don't understand how the old system made all of this impossible. Impossible on purpose to maintain control of the money that only hurts those of us not close to the money printer

As for your little soap box act about me regurgitating what I have heard from yt, how much of what you talk about on here not relating to your own personal life have you experienced directly? Isn't most of what we talk about things we have read or heard and are regurgitating back to other people? Odd that bitcoin makes people try to assign weird rules to its existence that are completely arbitrary and wouldn't be applied to other things

I am above 150 hours of time spent consuming bitcoin content. Anyone else on here spend that much time researching it? I doubt it. I still agree, I am not an expert. I am just informed on the matter

[Frozenbeernuts 1,652]

@nobody Just read my above post to see all of the things bitcoin does. I have mentioned these before

One last thing, developers are creating applications that can run on top of bitcoin that will keep the information in that app decentralized and encrypted. So bitcoin the network will be more than just money

[Frozenbeernuts 1,652]

Byzantine Generals problem was to broadcast all information on the ledger to all nodes at once. The first invention of triple entry ledger

[WhiteWonder 2,171]

41 minutes ago, Frozenbeernuts said:

Again, correct. I'm not the expert. I'm relaying what I have learned and I have deemed to be credible. When the light bulb went off, when the aha moment happened, that was when I started talking about it superficially. There are some very basic factors in bitcoin that lead me to agree with the people who think it's revolutionary

 

As for your little soap box act about me regurgitating what I have heard from yt, how much of what you talk about on here not relating to your own personal life have you experienced directly? Isn't most of what we talk about things we have read or heard and are regurgitating back to other people? Odd that bitcoin makes people try to assign weird rules to its existence that are completely arbitrary and wouldn't be applied to other things

I am above 150 hours of time spent consuming bitcoin content. Anyone else on here spend that much time researching it? I doubt it. I still agree, I am not an expert. I am just informed on the matter

not a soap box act at all, just a speculation. I don't think you are very on point at all in regards to people here mostly regurgitating stuff. A lot of posters on message boards tend to talk about the things they know best from their own experiences, be it their personal hobbies (gambling, golf, fantasy football, fishing, movies, shark tooth hunting lol, etc etc) or their jobs, their family life.... all that makes up a large portion of this forum. Sure, you see lots of regurgitation in political stuff. 

so no, I don't think most of what we talk about are just regurgitating things we have read or heard. And the sentence about assigning weird rules to bitcoins existence doesn't really make any sense. CDub has life experience mining crypto, for example. I am more likely to be interested in what he has to say than someone who is just posting buzz words and linking videos. 

My regurgitation comment is not a knock on bitcoin.... I guess if anything it's a knock on you. 

also, for what it's worth,  150 hours (while more than me) is not very much time and doesn't exactly make you informed on a subject matter. A little over a week of research on a topic doesn't move the needle. I know you're not calling yourself an expert, but you ARE dishing out takes on an investment while saying you know more than anyone else on this forum. Knowing more is relative. It doesn't always make you qualified on the topic. Hell, I'm sure i've spent more than 48 hours researching crypto and I only care about it as a shorter term money (USD) making investment. 90'sbaby has been talking about it since the start, If he's not full of shiit, I am sure hes spent well more than 150 hours on crypto. I'd imagine CDub has as well considering he was running mining rigs. 

[Shooter McGavin 589]

I'm sure I've spent over 150 hours the past 5 years learning about crypto.  It's not a lot.

[Frozenbeernuts 1,652]

28 minutes ago, WhiteWonder said:

not a soap box act at all, just a speculation. I don't think you are very on point at all in regards to people here mostly regurgitating stuff. A lot of posters on message boards tend to talk about the things they know best from their own experiences, be it their personal hobbies (gambling, golf, fantasy football, fishing, movies, shark tooth hunting lol, etc etc) or their jobs, their family life.... all that makes up a large portion of this forum. Sure, you see lots of regurgitation in political stuff. 

so no, I don't think most of what we talk about are just regurgitating things we have read or heard. And the sentence about assigning weird rules to bitcoins existence doesn't really make any sense. CDub has life experience mining crypto, for example. I am more likely to be interested in what he has to say than someone who is just posting buzz words and linking videos. 

My regurgitation comment is not a knock on bitcoin.... I guess if anything it's a knock on you. 

also, for what it's worth,  150 hours (while more than me) is not very much time and doesn't exactly make you informed on a subject matter. A little over a week of research on a topic doesn't move the needle. I know you're not calling yourself an expert, but you ARE dishing out takes on an investment while saying you know more than anyone else on this forum. Knowing more is relative. It doesn't always make you qualified on the topic. Hell, I'm sure i've spent more than 48 hours researching crypto and I only care about it as a shorter term money (USD) making investment. 90'sbaby has been talking about it since the start, If he's not full of shiit, I am sure hes spent well more than 150 hours on crypto. I'd imagine CDub has as well considering he was running mining rigs. 

So you never read an article or book and talk about it on here? Idk why you would use such a weak argument as to why I'm not qualified to talk about bitcoin on a forum with like 40 active users.

150 hours isn't a ton, but it's a decent amount of time to spend on one specific subject. And I'm not talking crypto. I don't do crypto research. I only focus on bitcoin

I have laid out the important bullet points on bitcoin and how it is new technology. Nothing I said is false. I mean yeah I could be learning this stuff and then keep it to myself. Not say anything at all.

I think that everyone who was arguing semantics will look foolish over time as the price of bitcoin goes up. But if you think I'm not credible then just ignore what I say.

I also believe people shouldn't ape all of their savings into bitcoin. They should put a small amount like $1,000 just in case it does take off. It still has a ton of upside with the downside of losing $1,000

So enlighten me where I'm wrong on bitcoin

[Frozenbeernuts 1,652]

34 minutes ago, Shooter McGavin said:

I'm sure I've spent over 150 hours the past 5 years learning about crypto.  It's not a lot.

Have you really been learning about crypto? Or is it a bunch of token pumpers? Because that's almost all of what crypto is outside of bitcoin

[Shooter McGavin 589]

2 minutes ago, Frozenbeernuts said:

Have you really been learning about crypto? Or is it a bunch of token pumpers? Because that's almost all of what crypto is outside of bitcoin

Yes I've learned about crypto.  In my opinion Ethereum is one of the only valuable coins since you can build logic on it, with smart contracts.

None of it is revolutionary or will change the world though.

I don't listen to pump and dump chumps on YouTube.

I've read a bunch on the coding side, and listened to a bunch of podcasts about his this stuff works, it's interesting.

More form a tech standpoint, not an investment perspective.

[Frozenbeernuts 1,652]

Just now, Shooter McGavin said:

Yes I've learned about crypto.  In my opinion Ethereum is one of the only valuable coins since you can build logic on it, with smart contracts.

None of it is revolutionary or will change the world though.

Ok so how were you able to send money anywhere in the world for $5 or less, near instantly, without a third party able to block your transaction before bitcoin?

[Shooter McGavin 589]

2 minutes ago, Frozenbeernuts said:

Ok so how were you able to send money anywhere in the world for $5 or less, near instantly, without a third party able to block your transaction before bitcoin?

Well fortunately I never needed to do this.

[Frozenbeernuts 1,652]

Bitcoin mining is also revolutionizing the energy grid. Energy providers are able to balance the grid better by mining with stranded energy. Shut down miners during peak power, turn back on when there is excess. This has always been a massive issue with the grid and leads to inefficiency

Bitcoin miners are being used to burn off methane from landfills. Methane is supposed to be many times more potent than C02 when it comes to trapping heat.

[Frozenbeernuts 1,652]

Just now, Shooter McGavin said:

Well fortunately I never needed to do this.

Yeah but there are people who do. It wasn't possible before bitcoin, so don't act like bitcoin isn't something innovative. Transferring money globally is extremely important.

All of this stuff with bitcoin isn't as obvious to people living in the US or Europe. Our money works mostly well for us and it's not hard to pay for things. Where it's making the most obvious impacts right now are in countries that have shlt currencies and poor banking infrastructure. Though it's still important in the US since the state still has a monopoly on money and is always screwing us over

[Shooter McGavin 589]

5 minutes ago, Frozenbeernuts said:

Bitcoin mining is also revolutionizing the energy grid. Energy providers are able to balance the grid better by mining with stranded energy. Shut down miners during peak power, turn back on when there is excess. This has always been a massive issue with the grid and leads to inefficiency

Bitcoin miners are being used to burn off methane from landfills. Methane is supposed to be many times more potent than C02 when it comes to trapping heat.

Please don't try and spin Bitcoin mining away from being a huge waste of energy.

And stop being so desperate to convince me that Bitcoin is amazing.

[Frozenbeernuts 1,652]

I am always a little surprised at the lack of intrigue to study bitcoin. Any non liberal here knows that we are getting screwed by the Fed and government policies that require the Fed to print more money. You also saw what happened with the truckers, their supporters, and the bank accounts tied to these people.

We can all see how our government is taking away our freedoms more and more every day. How were they able to pass more restrictions on gun owners? Because the Republicans are complicit too

Ok so what gives these people like Obama, Pelosi, Hilary, or big Pharma their power? The most crucial part is the money printer. Enriching themselves by printing money and distributing it to their constituents

Bitcoin ends that shlt. I just feel like this board should be the one place where people are more interested in getting out from under the thumb of these people

[WhiteWonder 2,171]

2 minutes ago, Frozenbeernuts said:

So you never read an article or book and talk about it on here? Idk why you would use such a weak argument as to why I'm not qualified to talk about bitcoin on a forum with like 40 active users.

150 hours isn't a ton, but it's a decent amount of time to spend on one specific subject. And I'm not talking crypto. I don't do crypto research. I only focus on bitcoin

I have laid out the important bullet points on bitcoin and how it is new technology. Nothing I said is false. I mean yeah I could be learning this stuff and then keep it to myself. Not say anything at all.

I think that everyone who was arguing semantics will look foolish over time as the price of bitcoin goes up. But if you think I'm not credible then just ignore what I say.

I also believe people shouldn't ape all of their savings into bitcoin. They should put a small amount like $1,000 just in case it does take off. It still has a ton of upside with the downside of losing $1,000

So enlighten me where I'm wrong on bitcoin

lol. Sure, i've read books or articles and sometimes I talk about it here. Never said there is NO other regurgitation on these forums. You claimed that's mainly what we do here which is silly. People here talk about their real life experiences all the time. When Skibum talks about fishing, that is 100% different than had he just watched someone else talk about fishing on youtube and parroted their talking points. Not sure what is hard for you to understand about what I'm saying. 

150 hours is not a decent amount of time to spend on a subject if you then intend to talk about it like an authority on the subject. JMHO.  To be honest, I doubt you know enough to know if anything you said might, possibly be false. IM NOT SAYING it's false, IM SAYING I don't think you really know for sure.
I've seen other posters who claim to know more than most talk about how FTX was good, trusted. whoops. Seen them say they only trust binance... hmm. 

Yes, yes, you're only talking about BTC, not exchanges or crypto in general. I get it. 

I don't think you know the definition of semantics either but it's not important. I know I won't look foolish if BTC goes up. I'm not one of the people saying not to buy it. You're right, I don't really believe you are any kind of credible source on bitcoin. Doesn't mean you won't possibly be correct. Anyone can make claims and wind up being right or wrong. 

I also don't need t enlighten you on where you are wrong on bitcoin because I never said you were wrong.... show me where I said you were wrong? I quoted you about your notion that people were using their feelings rather than facts and I thought it was odd because you often come across as an emotionally driven poster when it comes to bitcoin and you even admitted to knowing 0 about it prior to 2021. 

[Frozenbeernuts 1,652]

1 minute ago, Shooter McGavin said:

Please don't try and spin Bitcoin mining away from being a huge waste of energy.

And stop being so desperate to convince me that Bitcoin is amazing.

If it incentivises grid stabilization, how is it a waste of energy? There are even hardcore climate emergency people who think bitcoin is a massive benefit to the environment. Burning off excess methane is a waste of what? Methane that would be vented into the atmosphere? That doesn't even make sense

[Frozenbeernuts 1,652]

2 minutes ago, WhiteWonder said:

lol. Sure, i've read books or articles and sometimes I talk about it here. Never said there is NO other regurgitation on these forums. You claimed that's mainly what we do here which is silly. People here talk about their real life experiences all the time. When Skibum talks about fishing, that is 100% different than had he just watched someone else talk about fishing on youtube and parroted their talking points. Not sure what is hard for you to understand about what I'm saying. 

150 hours is not a decent amount of time to spend on a subject if you then intend to talk about it like an authority on the subject. JMHO.  To be honest, I doubt you know enough to know if anything you said might, possibly be false. IM NOT SAYING it's false, IM SAYING I don't think you really know for sure.
I've seen other posters who claim to know more than most talk about how FTX was good, trusted. whoops. Seen them say they only trust binance... hmm. 

Yes, yes, you're only talking about BTC, not exchanges or crypto in general. I get it. 

I don't think you know the definition of semantics either but it's not important. I know I won't look foolish if BTC goes up. I'm not one of the people saying not to buy it. You're right, I don't really believe you are any kind of credible source on bitcoin. Doesn't mean you won't possibly be correct. Anyone can make claims and wind up being right or wrong. 

I also don't need t enlighten you on where you are wrong on bitcoin because I never said you were wrong.... show me where I said you were wrong? I quoted you about your notion that people were using their feelings rather than facts and I thought it was odd because you often come across as an emotionally driven poster when it comes to bitcoin and you even admitted to knowing 0 about it prior to 2021. 

If that's how you see it. I never come here and push this hard on things that I'm not informed on. I only do it with bitcoin because I know that what I'm talking about is accurate. I mean sure I could just link every single podcast I have ever listened to and just say Listen to this: I can't explain what was said because WW doesn't believe I can curate information I have consumed. But then no one is going to do that. Or I can take everything I have learned and to the best of my ability break it down into short form because I do think bitcoin is this revolutionary.

I think people should do their own research. Take what I say and then go investigate if it seems legit. Why? Because bitcoin IS revolutionary, and I don't want to be a damn slave to what the psychos like Biden, Macron, Trudeau, Arden, or Klaus the Nazi Schwab have planned

[WhiteWonder 2,171]

3 minutes ago, Frozenbeernuts said:

If that's how you see it. I never come here and push this hard on things that I'm not informed on. I only do it with bitcoin because I know that what I'm talking about is accurate. I mean sure I could just link every single podcast I have ever listened to and just say Listen to this: I can't explain what was said because WW doesn't believe I can curate information I have consumed. But then no one is going to do that. Or I can take everything I have learned and to the best of my ability break it down into short form because I do think bitcoin is this revolutionary.

I think people should do their own research. Take what I say and then go investigate if it seems legit. Why? Because bitcoin IS revolutionary, and I don't want to be a damn slave to what the psychos like Biden, Macron, Trudeau, Arden, or Klaus the Nazi Schwab have planned

 

out of curiosity, what makes you think that the major governments will ever let bitcoin replace their fiat currencies? 

I think bitcoin is a perfectly legit technology and a potentially good investment for USD gains. revolutionary? remains to be seen. I've been saying, since as early as I participated in this thread and there were posters saying it was the biggest thing since the combustion engine, that governments will never let it happen. Why would they? This thread is closing in on 6 years old and bitcoin is no closer to being the worlds new form of currency. If, down the road, we are all using bitcoin as our currency, i'd be willing to bet its government regulated.  I'd be more willing to bet that bitcoin will just become more and more mainstream to the point that it's simply another payment method.

Talking about btc allowing for the easiest and cheapest way to quickly transfer money globally is great. This is the tech play. At the end of the day, the bitcoin still has a fiat value tied to it. 

[Frozenbeernuts 1,652]

1 hour ago, Shooter McGavin said:

Please don't try and spin Bitcoin mining away from being a huge waste of energy.

And stop being so desperate to convince me that Bitcoin is amazing.

If it's a waste of energy why are major oil producers like ExxonMobil and one of the largest electricity producers in Japan mining? Why would they do something that is wasting money with no benefit?

[Frozenbeernuts 1,652]

8 hours ago, WhiteWonder said:

 

out of curiosity, what makes you think that the major governments will ever let bitcoin replace their fiat currencies? 

I think bitcoin is a perfectly legit technology and a potentially good investment for USD gains. revolutionary? remains to be seen. I've been saying, since as early as I participated in this thread and there were posters saying it was the biggest thing since the combustion engine, that governments will never let it happen. Why would they? This thread is closing in on 6 years old and bitcoin is no closer to being the worlds new form of currency. If, down the road, we are all using bitcoin as our currency, i'd be willing to bet its government regulated.  I'd be more willing to bet that bitcoin will just become more and more mainstream to the point that it's simply another payment method.

Talking about btc allowing for the easiest and cheapest way to quickly transfer money globally is great. This is the tech play. At the end of the day, the bitcoin still has a fiat value tied to it. 

There are people in congress who are bitcoiners. There are a growing number of people who are willing to defend it in DC

The dollar is the main unit of account. Everything is priced in it. It's much easier, for now, to assign a value to bitcoin in dollars. Getting people to switch to pricing things in sats isn't something that can happen over night. It takes time.

We are definitely closer to bitcoin adoption. There are multiple countries that consider it legal tender. More companies than ever accept it. There are more people than ever defending it. I don't see how that can't be considered closer? Even treasury secretary Janet Yellen and SEC chair Gary Gensler both have quoted Satoshi and commented on the incredible nature of the technology. We literally have two people who would seem to be naturally anti bitcoin, or at least Yellen, who acknowledge bitcoin as new innovative tech

Why would i think governments would allow it? Fck the government. What happens if they start putting bugs in our food, want to teach my kids about gender transformation benefits, require me to buy an electric car that they can turn off, and giver me a social credit score tied to a cbdc. I'm not going to just roll over and let it happen.

If bitcoin isn't revolutionary, why are people like Pocahontas so scared of it and rushing bills through to block its anonymity? We have multiple people in congress who have called bitcoin useless. Now all of a sudden its so useless that they need to regulate it into oblivion? Its because they know the tech takes the power out of their hands completely.

It will be another payment network but it is far superior to the old one.

[nobody 2,038]

We need to regulate not just Bitcoin, but crypto for at least two reasons:

1. People are being regularly ripped off right now.  That needs to be curbed for mass adoption.
2. You can't integrate the Bitcoin ecosystem into legacy monetary system without some sort of regulation which also speaks to mass adoption.

This can't stay the wild west forever.  Most people won't want to deal with crypto if they have to worry about getting their money stolen all the time.

[Frozenbeernuts 1,652]

24 minutes ago, nobody said:

We need to regulate not just Bitcoin, but crypto for at least two reasons:

1. People are being regularly ripped off right now.  That needs to be curbed for mass adoption.
2. You can't integrate the Bitcoin ecosystem into legacy monetary system without some sort of regulation which also speaks to mass adoption.

This can't stay the wild west forever.  Most people won't want to deal with crypto if they have to worry about getting their money stolen all the time.

Who is getting their bitcoin stolen? People putting it on the exchange? It shouldn't be there in the first place. That has nothing to do with bitcoin. Self custody is how people stop getting ripped off.

The only regulation I want is to protect people and the system from the government. Strengthening of our rights against the gov and big tech

[Hardcore troubadour 12,642]

If you bought Bitcoin and Disney 5 years ago you’ve done better with Bitcoin. Lol. 

[Frozenbeernuts 1,652]

Ask yourselves this, as society devolves into chaos because of the people at the top, what are you going to do about it? Just accept it and keep your head down? Hoping not to upset the wrong people? A cbdc is coming and it is going to enslave us if no one fights back.

At the very least, using a form of money the cbdc pushers can't control takes away some of their power. If you don't think bitcoin can do that, then what's your plan? Just hope your kids keep their heads down too? What choice will they have if the money is destroyed and used against us?

[Alias Detective 1,179]

1 hour ago, Frozenbeernuts said:

Ask yourselves this, as society devolves into chaos because of the people at the top, what are you going to do about it? Just accept it and keep your head down? Hoping not to upset the wrong people? A cbdc is coming and it is going to enslave us if no one fights back.

At the very least, using a form of money the cbdc pushers can't control takes away some of their power. If you don't think bitcoin can do that, then what's your plan? Just hope your kids keep their heads down too? What choice will they have if the money is destroyed and used against us?

I’ll have a small farm and grow a garden. 

[Frozenbeernuts 1,652]

17 minutes ago, Alias Detective said:

I’ll have a small farm and grow a garden. 

That's a good alternative. Not everyone can do that unfortunately. You will still need to rely on the money the government provides, and with cbdcs it will be a world of difference between their control now and into the future

[Frozenbeernuts 1,652]

Hmm wonder why Japan's largest power company would want to do something so useless as to sink thousands or millions of dollars into bitcoin mining equipment if it's such a waste of energy.

https://www.nasdaq.com/articles/japans-largest-power-company-tepco-to-mine-bitcoin-with-excess-energy

[nobody 2,038]

3 hours ago, Frozenbeernuts said:

Ask yourselves this, as society devolves into chaos because of the people at the top, what are you going to do about it? Just accept it and keep your head down? Hoping not to upset the wrong people? A cbdc is coming and it is going to enslave us if no one fights back.

 

1. You need to understand that your trading one perceived tyrant for another.  We'd be at the mercy of the mining consortiums
2. Your proposition of moving away from the government fiat (at least the way I'm reading your vision) would necessitate a reset of the word economy, so your hypothetical postulating society devolving into chaos would be a necessary outcome of your utopian 1 world currency independent of government.   You have to realize multiple major countries would likely see a collapse in their economies, right?

[nobody 2,038]

He who controls the hash rate controls the world!