Bitcoins/Litecoins/Virtual Currencies

Los_Necros said:

wow congrats on putting $ 200 into a hype coin and doubling your money... such a master.

The point remains that there are better investments when you missed the boat on one. eth went from 2200 to 3500 in 9 days.

Click to expand...

Thanks! 100% gain is stellar!

Lol, that is only 62ish% jump in the same time frame that Doge jumped 100%. In what world is 62% > 100%?

BTC maxis hate Doge because it shows just how much of this market is hype and speculation, fundamentals be damned. If you are just here to make money it's as good a coin as any to flip.

Lambourne said:

BTC maxis hate Doge because it shows just how much of this market is hype and speculation, fundamentals be damned. If you are just here to make money it's as good a coin as any to flip.

Click to expand...

Agreed that it is just as good as any garbage coin to flip for $. Probably better than most. Maxi's 'hate' these coins because they are largely pump and dumps that pull in ignorant people and rob them blind. Maxi's believe that HODLing Bitcoin can create lifechanging wealth (historically correct) and trading alts will get you wrecked (also historically correct).

Bitcoin maximalism is more about protecting newcomers to the market than it is jealously guarding their tendies. If we're right about the future then number-go-up is inevitable. The more normal people holding BTC the better the future is for us all.

Countries that subsidize the "free" energy through socialism/communism and put near slave wage people to work in these crypto farms that have massive amounts of mining rigs and sell off every so often, are doing so to bring real currency into the country. That's my conspiracy theory for the day.

Borzak said:

Countries that subsidize the "free" energy through socialism/communism and put near slave wage people to work in these crypto farms that have massive amounts of mining rigs and sell off every so often, are doing so to bring real currency into the country. That's my conspiracy theory for the day.

Click to expand...

What work are the slaves doing in this theory? You know crypto mining doesn't require any real mining right?

If I've told you that you're not properly educated on Bitcoin and your opinion is wrong in some way, and you have an interest in understanding why this conversation is a great place to start. He addresses a bunch of the arguments made in this thread against BTC within the first 40 minutes. Also does a better job of explaining why Bitcoin is so damn important than I can.

Flobee said:

What work are the slaves doing in this theory? You know crypto mining doesn't require any real mining right?

Click to expand...

Somebody has to move build whatever building they put them in. Some of the videos are some pretty big buildings. Plus the country funding coal plant after coal plant. Cheap way to import hard cash when they do the big bulk sales every so often.

Then they turn around and buy politicians and real estate in Canada and Austin with it obviously

Haus said:

Even if I want to avoid the risk of impermanent loss and/or swings in the market I see this and wonder why I would store a single cent in a savings accounts at a bank anymore...
View attachment 352716

Click to expand...

Savings accounts are useless. That said, you've got to really, really, really trust a non-FDIC insured company to store $31,000,000 with them. It's too easy to wake up one morning to a zero balance and an email from the company saying "Sorry, we were hacked and your money is all gone." Zero recourse.

Haus said:

But also there are Defi projects which are starting up which are pointing towards a level of insurance and I think over time as the space evolves it will end up with it's own version, but it will just be insurance you pay

Click to expand...

Yeah, things will definitely get better in terms of reliable, insured places to stake and hold crypto. It's just pretty close to the Wild West right now.

Wild West means a lot of risk in a lot of volatility, but it also means a lot of opportunity. Those willing to risk the dangers of the "crypto" frontier are going to have opportunities that those who come along after everything is safe and secure simply won't have. Right now there are still plenty of barriers that keep crypto from being too mainstream. Once those barriers disappear, the opportunities for average Joe types to be able to make their fortune in the crypto space will likely disappear along with them.

I got a little closer to repairing my busted drive that might have a bit of doge on it. A friend found a bad drive (but with a good pcb) on ebay and I took a 60 dollar gamble. Didn't work but I can sort of halfway talk to it with this dodgy russian tool for fixing western digital drives.

If I can get it to write to the rom, and manage to find a big bunch of firmwares from around that time, I might be able to get it going.

It probably won't work though, reading from the rom (or anything datawise) just fails or returns nothing.

Curious if they'll allow withdrawals to hardware wallets? I doubt it, but with KYC maybe they will

Flobee said:

Curious if they'll allow withdrawals to hardware wallets? I doubt it, but with KYC maybe they will

Bitcoin is coming to hundreds of U.S. banks this year, says crypto custody firm NYDIG

Until now, bitcoin adopters have relied on apps from a new generation of fintech players like Robinhood, PayPal and Square, or Coinbase.

www.cnbc.com

Click to expand...

Wow big news. Pretty much verifies everything I was just saying.

I feel like this signals imminent mainstream adoption of crypto- at least as an investment option (if not a currency). Even so, what will start as an investment option will 100% evolve into a currency for lots of reasons that get discussed here all the time. The Wild West is about to get a lot more civilized. Get your cheap crypto while you can, it won't last long. You only get one shot at the crypto version of the Oklahoma Land Rush or the 1849 Gold Rush. Once it's gone, it's gone.