Bitcoins/Litecoins/Virtual Currencies

Flobee

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Theres also the carbon emissions thing we haven't talked about here. BTC is intentionally energy inefficient. It burns a shit ton of coal. Eth is better again here.. but it too is not great.
So I believe that this is a misnomer. Bitcoin mining is often utilizing excess or otherwise unused energy. Hydro power generated in otherwise unusable locations, burn-off from oil or natural gas extraction, etc. There are absolutely cases where the network is pulling excessive power but keep in mind that that energy is being directly converted to digital value. That is in no way a waste.

I would suggest thinking of mining (for Bitcoin at least) as a conversion of electricity to digital scarcity and security. This translates a real world resource into the digital world, thus representing real value.

Proof of Stake is partially being designed to alleviate the energy concerns around proof of work. I think that for many blockchains this will overall be a good thing but it is by no means a proven thing. People aren't considering this transfer of electricity to digital value on this topic.
 
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Sanrith Descartes

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Everytime I get the urge to maybe think about crypto investing I realize how miuch shit I need to learn first. Its like learning a new game from scratch. And then im like, meh Im too lazy to learn all this shit right now. Back to stonks I go.
 
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Flobee

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Everytime I get the urge to maybe think about crypto investing I realize how miuch shit I need to learn first. Its like learning a new game from scratch. And then im like, meh Im too lazy to learn all this shit right now. Back to stonks I go.
So I'm not planning to read this entirely until tomorrow but I did skim through it. Whitepaper written by RealVision regarding Bitcoin's relevance to institutional investors. It is written in traditional finance language and may be more palatable for you or others that come from that background.

You can get it sent to you here but I'll just attach the pdf if you want to avoid giving them your contact information.
 

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Sanrith Descartes

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So I'm not planning to read this entirely until tomorrow but I did skim through it. Whitepaper written by RealVision regarding Bitcoin's relevance to institutional investors. It is written in traditional finance language and may be more palatable for you or others that come from that background.

You can get it sent to you here but I'll just attach the pdf if you want to avoid giving them your contact information.
Thx.
 

pharmakos

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If I wasn't on disability I totally would have dumped a bunch of money in BTC and Ether a few years ago. Really makes me sad some days.
 

pharmakos

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Everytime I get the urge to maybe think about crypto investing I realize how miuch shit I need to learn first. Its like learning a new game from scratch. And then im like, meh Im too lazy to learn all this shit right now. Back to stonks I go.

At this point if you want to be lazy you can just get a Coinbase account and buy some, no research or special knowledge needed. Get a friend to tell you when to sell.
 

Flobee

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What the actual fuck lol. I wonder if DOGE will actually do something one day? #10 in marketcap is completely insane

1611928459622.png
 

Caliane

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I still think Eth is going to take off significantly over the next year or two.
I don't think its too late to get in on Eth.

btc and eth did spike overnight, after raising steadily over the day yesterday. btc back up to 38k, eth 1400. btc was hovering around 32k for a while there. eth 1200ish.
r/crytocurrency think it was elon changing his twitter bio to "bitcoin".

I'm not sure if the dogecoin will actually be anything. btc is largely winning on namesake. doge might stick around for that as well. or, alternatively, if you had doge as a meme. you just made bank, and probably should cash out, and put it into something with more long term standing.

r/crytocurrency is also revolting vs robinhood as well.
robinhood is not selling you real crytocurrency
 
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Fogel

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Elon changed his twitter pic to bitcoin, I'm sure that was 95% of it
 

Lambourne

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Kraken got completely hammered today, it was actually completely down for about 2 hours (no trades executed at all). Seems to be working now although Doge has been going mostly sideways for the last few hours.

I think most of the yolo money is already in and is going to be trying to get out once the memes go stale.
 

Sanrith Descartes

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Opened a Coinbase account and closed in about 2 minutes later. Fuck the "prove your human shit every click" and I dont allow anyone to use Plaid to access my bank accounts via my log in and password. I wont even let other banks do it. "We are secure. Honest".
 

Arden

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Ok, so my options to trade crypto appear to be:

1. Robinhood- where they might decide they don't want you trading something at any time and disallow it
2. Coinbase- which appears to have a difficult-to-decipher fee structure (I read the fee section and have zero concept of what it will actually come out to) and, according to Sanrith Descartes Sanrith Descartes seems like they are cumbersome to use.
3. Kraken- which seems to be completely non-functional.

Anyone have any good place to do crypto trades?
 

Armadon

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I haven't had any problems with coinbase. I've had shit sitting in there for over 3 years. When I took out 1k a few weeks ago it was a little over 25 bucks they took for the transaction.
 

Arden

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I haven't had any problems with coinbase. I've had shit sitting in there for over 3 years. When I took out 1k a few weeks ago it was a little over 25 bucks they took for the transaction.

So they don't charge for trades, they only charge when you withdraw? And you paid $25 on a $1,000 withdraw?
 

Armadon

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So they don't charge for trades, they only charge when you withdraw? And you paid $25 on a $1,000 withdraw?
Sorry my bad. That was the trade from bitcoin to etherium. I'm sorry. My brain is retarded. No fee to my bank account
 

Brad

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For any Australians on this board thinking of buying crypto and/or selling BTC, CoinSpot is a great place to go. Can transfer a max of $20,000 per day directly from your own bank account for purchasing and they do have an OTC to sell BTC.
 

Sanrith Descartes

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Can I use my VPN to pretend to be in another country so I can use a crypto exchange that doesn't provide service to the US?