Bitcoin / Cryptocurrency Discussion (And Predictions)

[KAIZOS]

1 BTC = 1 BTC is a bold claim that works for literally any currency or quantifiable noun.

1 USD = 1 USD
1 banana = 1 banana
1 ruble = 1 ruble


Why is this a thing? What am I missing here?

Fixed supply cap

Works only with bitcoin because supply can’t be increased more than 21m.

Bananas and rubles have an infinite supply potential, theoretically.

It basically means, your share of the supply won’t be diluted, so 1 BTC will always be 1 BTC.

Scarcest asset in human history.

 

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[Simon Angel]

There is only one correct answer.

Cold wallet.

That's the first thing I bought before owning ANY crypto.. and my investment is rather modest.

On the other hand, here's a conversation I had with an acquaintance of mine who has invested 6 figures in various coins:

Him: "I think I aped out and invested way too much money into crypto."

Me: "That's fine. Even if you lose some money in the short term, eventually the gains will likely end up being much greater than the losses."

...

"BTW, what cold wallet are you using? Ledger?"

Him: "What's a cold wallet?"

 

[doster.zach]

There is only one correct answer.

Cold wallet.

Ordering one now...

I don't have so much money in Coinbase that if they went insolvent tomorrow it would ruin my life, just make me quite unhappy for a couple days.

 

[Antifragile]

Fixed supply cap

Works only with bitcoin because supply can’t be increased more than 21m.

Bananas and rubles have an infinite supply potential, theoretically.

It basically means, your share of the supply won’t be diluted, so 1 BTC will always be 1 BTC.

Scarcest asset in human history.

So it’s short for 1/21M BTC = 1/21M BTC … but making it “catchy” by shortening the same.

 

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[doster.zach]

Did anyone else get a bunch of funny words when setting up their cold wallet?

Mine were:

require govern tiger sense hurdle media toy scare unlock man that twin village I am just kidding sight march lounge excite infant endless crisp

 

[MoneyDoc]

Did anyone else get a bunch of funny words when setting up their cold wallet?

Mine were:

require govern tiger sense hurdle media toy scare unlock man that twin village I am just kidding sight march lounge excite infant endless crisp

Yeah...

require govern tiger sense hurdle media toy scare unlock man that twin village I am not kidding sight march lounge excite infant endless crisp

 

[MoneyDoc]

Tesla sold 75% of it's BTC holdings in Q2 2022.

 

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[doster.zach]

Tesla sold 75% of it's BTC holdings in Q2 2022.

I heard it was to stay cash flow positive...

 

[Lex DeVille]

Crypto goes up when this thread's comments go up. I have a new investment strategy.

 

[MoneyDoc]

I heard it was to stay cash flow positive...

Yup... free cash flow was $600m and of that, was an asset sale of $900m BTC. So they would've reported -$300m ish cash flow if it wasn't for the sale lmao.

Burning through cash, again... look at the credits they received.

 

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[Xeon]

Lol

Tesla has dumped 75% of its bitcoin holdings a year after touting 'long-term potential'

Tesla CEO Elon Musk spent much of 2021 hyping cryptocurrencies. His company has exited most of its bitcoin holdings amid a dramatic downfall.

www.cnbc.com

 

[Antifragile]

Buy high, sell low. Brilliant.

Remind me to load up on Tesla stock again, please. I heard on this forum from some members that it was a great investment. I mocked them with the P/E ratio…

That said, never underestimate an overconfident person, like Elon.

Edit: typo

 

[doster.zach]

https://twitter.com/i/web/status/1551975883216388097

View: https://twitter.com/coinbase/status/1551975883216388097


Coinbase lol

 

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[Xeon]

Always amazes me why people would call themselves degens aka degenerates.

 

[MoneyDoc]

https://twitter.com/i/web/status/1551975883216388097

View: https://twitter.com/coinbase/status/1551975883216388097


Coinbase lol

The only thing degen is their stock price

 

[Roz]

Always amazes me why people would call themselves degens aka degenerates.

It was originally meant as a short form for Decentralized Generation, signaling the nature of Web3, popularized by BowTiedBull (think so). But with increased trolls, pump and dump scams in the space and especially the rise in number of women using OnlyFans, doing weird things for their subscribers, the term morphed to mean degenerate.

I could be wrong though.

 

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[Xeon]

It was originally meant as a short form for Decentralized Generation, signaling the nature of Web3, popularized by BowTiedBull (think so). But with increased trolls, pump and dump scams in the space and especially the rise in number of women using OnlyFans, doing weird things for their subscribers, the term morphed to mean degenerate.

I could be wrong, though.

My understanding of degen came from here:

"The term ‘degen’ can be traced back to sports betting. Shorthand for ‘degenerate’, it’s generally used as an insult, referring to gamblers with a tendency to stake large amounts of cash without the knowledge or experience to back it up."

Degens: The high-risk crypto traders making millions from nothing

“Degen isn’t a community, degen is a way of life”

www.dazeddigital.com

 

[vladikcm]

What's the point in Bitcoin?
Bitcoin is to other cryptos as Windows XP is to Quantum computers.
Hoping for the price to go up is not a good strategy, focus on the value better. What value does Bitcoin give to the world compared to other cryptos? Because one crypto is #1 now does not mean it will be like that forever. Go out of your comfort zone and DYOR (Do Your Own Research).

 

[udilah]

What's the point in Bitcoin?
Bitcoin is to other cryptos as Windows XP is to Quantum computers.
Hoping for the price to go up is not a good strategy, focus on the value better. What value does Bitcoin give to the world compared to other cryptos? Because one crypto is #1 now does not mean it will be like that forever. Go out of your comfort zone and DYOR (Do Your Own Research).

Please can you share a link where w Evan get Information for us to make our research

 

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[Timmy C]

What's the point in Bitcoin?
Bitcoin is to other cryptos as Windows XP is to Quantum computers.
Hoping for the price to go up is not a good strategy, focus on the value better. What value does Bitcoin give to the world compared to other cryptos? Because one crypto is #1 now does not mean it will be like that forever. Go out of your comfort zone and DYOR (Do Your Own Research).

Why is it always the parked accounts with the worst takes that make me roll my eyes?

 

[vladikcm]

Please can you share a link where w Evan get Information for us to make our research

Absolutely, here you go:

View: https://m.youtube.com/watch?v=H_6OYrgWn7g

 

[vladikcm]

Why is it always the parked accounts with the worst takes that make me roll my eyes?

My account is not parked, I am just new here

 

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[doster.zach]

Absolutely, here you go:

View: https://m.youtube.com/watch?v=H_6OYrgWn7g

Lol your research is a podcast episode?

 

[udilah]

Bitcoin seems to be going up again and from history these time I think it will it 100k before it crash down again

 

[TinyTim]

Bitcoin seems to be going up again and from history these time I think it will it 100k before it crash down again

See you at 12k

 

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[Matt Sun]

Bitcoin is at the 200 week moving average. This might be a very good time to buy, as has been historically. I have bought a (for me) big amount, time will tell if I got this right or wrong.


(It roughly coincides with the bottom blue line).

Bitcoin Rainbow Chart (Live) - Blockchaincenter

Feel like buying? Sign up at Kraken or Binance and support this siteThe Rainbow Chart is not investment advice! Past performance is not an indication of future results. The Rainbow Chart is meant to be be a fun way of looking at long term price movements, disregarding the daily volatility "noise".

www.blockchaincenter.net

https://twitter.com/i/web/status/1553400747223617538

View: https://twitter.com/BTC_Archive/status/1553400747223617538?s=20&t=Qd3eELuJ78ZxjDjmJAc07g

 

[Matt Sun]

Blackrock, the investment fund that manages $10 Trillion , is opening Bitcoin investing for his clients. Maybe even right now as btc is at the bottom ? Time will tell

View: https://www.youtube.com/watch?v=m1vWkAwB6Oo

 

[AceVentures]

Guys I just heard the first compelling case against ETH and I wanted to discuss, at the least make sure you guys are aware of the risks ahead.

ETH is scheduled to merge to PoS next month. All nice and dandy. The most glaring problem is that the majority of ETHPoS stakers are not individuals with 32ETH locked on the beacon chain - they are smaller investors that pool their ETH together inside staking pools. These are things like Lido, or Binance, Coinbase et al which offer pooled staking options. With 60-70% of staked ETH coming from these centralized staking pools, any regulatory pressure on the chain could send the network down a one way street to full capture.

Consider what just happened with Tornado Cash. For those not aware, the US just placed Sanctions on specific smart contracts, blacklisted wallets, and arrested the lead developer in the Netherlands. The point being, ETH is trying to fight and replace the status quo of money, and the community is not thinking about the adversarial consequences of the fight. If a similar sanction or really any regulatory challenge is made against ETH, all of the centralized entities will be forced to comply. This compliance would give 60-70% of ETH's power to centralized agencies. There would be no possible return from this.

ETH may very well become the CBDC centralized layer, and the PoS merge would offer the entirety of the chain on a silver platter to the corrupt bankers and regulators currently running the show.

Why build an entire network from scratch, and convince every soul to use it, when you can just take the most promising and highest value smart contract platform for free.... this is the Chad move. This is what any corrupt bureaucrat would do. And I haven't seen anybody address how this risk can be mitigated.

If you're a profit maximalist then maybe regulatory capture is good for price go up yupee you make money. But if you drank the kool-aid and want a decentralized money to free us from the corruption then you should be paying close attention.

 

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[Antifragile]

Guys I just heard the first compelling case against ETH and I wanted to discuss, at the least make sure you guys are aware of the risks ahead.

ETH is scheduled to merge to PoS next month. All nice and dandy. The most glaring problem is that the majority of ETHPoS stakers are not individuals with 32ETH locked on the beacon chain - they are smaller investors that pool their ETH together inside staking pools. These are things like Lido, or Binance, Coinbase et al which offer pooled staking options. With 60-70% of staked ETH coming from these centralized staking pools, any regulatory pressure on the chain could send the network down a one way street to full capture.

Consider what just happened with Tornado Cash. For those not aware, the US just placed Sanctions on specific smart contracts, blacklisted wallets, and arrested the lead developer in the Netherlands. The point being, ETH is trying to fight and replace the status quo of money, and the community is not thinking about the adversarial consequences of the fight. If a similar sanction or really any regulatory challenge is made against ETH, all of the centralized entities will be forced to comply. This compliance would give 60-70% of ETH's power to centralized agencies. There would be no possible return from this.

ETH may very well become the CBDC centralized layer, and the PoS merge would offer the entirety of the chain on a silver platter to the corrupt bankers and regulators currently running the show.

Why build an entire network from scratch, and convince every soul to use it, when you can just take the most promising and highest value smart contract platform for free.... this is the Chad move. This is what any corrupt bureaucrat would do. And I haven't seen anybody address how this risk can be mitigated.

If you're a profit maximalist then maybe regulatory capture is good for price go up yupee you make money. But if you drank the kool-aid and want a decentralized money to free us from the corruption then you should be paying close attention.

That's very interesting. Thank you for sharing.

BTC for the "end of the world" scenario it is!

 

[nitrousflame]

Guys I just heard the first compelling case against ETH and I wanted to discuss, at the least make sure you guys are aware of the risks ahead.

ETH is scheduled to merge to PoS next month. All nice and dandy. The most glaring problem is that the majority of ETHPoS stakers are not individuals with 32ETH locked on the beacon chain - they are smaller investors that pool their ETH together inside staking pools. These are things like Lido, or Binance, Coinbase et al which offer pooled staking options. With 60-70% of staked ETH coming from these centralized staking pools, any regulatory pressure on the chain could send the network down a one way street to full capture.

Consider what just happened with Tornado Cash. For those not aware, the US just placed Sanctions on specific smart contracts, blacklisted wallets, and arrested the lead developer in the Netherlands. The point being, ETH is trying to fight and replace the status quo of money, and the community is not thinking about the adversarial consequences of the fight. If a similar sanction or really any regulatory challenge is made against ETH, all of the centralized entities will be forced to comply. This compliance would give 60-70% of ETH's power to centralized agencies. There would be no possible return from this.

ETH may very well become the CBDC centralized layer, and the PoS merge would offer the entirety of the chain on a silver platter to the corrupt bankers and regulators currently running the show.

Why build an entire network from scratch, and convince every soul to use it, when you can just take the most promising and highest value smart contract platform for free.... this is the Chad move. This is what any corrupt bureaucrat would do. And I haven't seen anybody address how this risk can be mitigated.

If you're a profit maximalist then maybe regulatory capture is good for price go up yupee you make money. But if you drank the kool-aid and want a decentralized money to free us from the corruption then you should be paying close attention.

I've been seeing talks of this going around lately as well, but I'm not sure I understand how such and attack would actually play out.

My understanding is that validators simply validate against the rules of the network, and if a validator attempted to change the rules, its ETH balance would get slashed. In order to avoid getting slashed, the rules of the network would have to change, which would require a fork, correct?