Bitcoins/Litecoins/Virtual Currencies

Tmac

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Look, people who argue that Bitcoin is the end-all be-all of crypto are fuckin retarded, that is the cold hard reality of the situation. I didn't make the rules.

I get where you're coming from, but my problem is this...

I have surface scratching knowledge of this stuff and I'm not convinced either way. I have probably 20 hours invested in understanding BTC and 1 hour into ETH, so a thoughtful response from you as to the benefits and implications of ETH in regards to BTC would be most helpful for someone like me. It's just hard to get a takeaway from what you're saying bc you're saying it like a 12 year old dickhead, lol.
 
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James

Ahn'Qiraj Raider
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Arguing with you is a waste of time, but I'll bite once more.

Bitcoin was worth about a few cents at the time, before anybody ever considered it a real investment, and the userbase was a tiny fraction of ETH's when it forked. This was the very early days when the basic core logic was still being worked on, which is why they could fork it so easily. Ethereum had the advantage of being able to copy and use already tested code to avoid such problems. But more importantly BTC's error was in the protocol itself, and not some user's smart contract; the contract being valid Solidity code and the hack only affecting the organization that authored the contract. This is essentially like forking the blockchain if Coinbase were hacked. Vitalik having forked the blockchain harmed the reputation of the network by violating immutability to help himself and his pals, which is why ETH Classic even exists; whereas Satoshi's fork was universally accepted immediately by everybody and mitigated harm to the network. Furthermore it's arguable that Vitalik still has this power whereas BTC can't even fork without 90% consensus for Taproot.

This is all stupid bullshit fucking FUD, though, and we're five years down the line from it now to know what you're hung up on is about as inconsequential as Bitcoin 0.3.1 hardforking out billions of erroneous coins. Vitalik himself has posted on this very topic time and time again, feel free to google about it and read anything new from this decade at least. Imagine thinking Ethereum isn't already decentralized so you cling to clearly inferior technology with clearly inferior financial instruments and then act all impressed about being able to collect on your savings bonds like a fucking crypto boomer.

I get where you're coming from, but my problem is this...

I have surface scratching knowledge of this stuff and I'm not convinced either way. I have probably 20 hours invested in understanding BTC and 1 hour into ETH, so a thoughtful response from you as to the benefits and implications of ETH in regards to BTC would be most helpful for someone like me. It's just hard to get a takeaway from what you're saying bc you're saying it like a 12 year old dickhead, lol.


Book mark it on your celly and pull it up on the shitter, it explains everything.
 

Arden

Trakanon Raider
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Edit: deleted a Reddit post about truebit because it's long af and it wouldn't let me spoiler it for some reason
 

Caliane

Bronze Baronet of the Realm
11,737
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90d 3h 51m
Edit: deleted a Reddit post about truebit because it's long af and it wouldn't let me spoiler it for some reason
use "insert link" then put in the URL, and just type some label for it in the text.

yeah, forums hotlinking reddit here can be annoying, as it links like the whole damn thing, instead of a preview or just link..
 
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James

Ahn'Qiraj Raider
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Don't bother with anything from reddit, go to the website: Truebit and read the whitepapers. Look on YouTube for videos featuring Jason Teutsch if you're really interested, it's been in the works publicly since just about that 2014 blog post.

The tokenomics whitepaper that outlines the CPU/TRU/DAO system is also outdated, there's just one TRU coin for everything now.
 

Tmac

Adventurer
<Silver Donator>
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Don't bother with anything from reddit, go to the website: Truebit and read the whitepapers. Look on YouTube for videos featuring Jason Teutsch if you're really interested, it's been in the works publicly since just about that 2014 blog post.

The tokenomics whitepaper that outlines the CPU/TRU/DAO system is also outdated, there's just one TRU coin for everything now.

Converted .14 ETH to 920 Truebit bc YOLO.
 

James

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Holla, just hold that shit until it changes your life. Will take a few years.
 

Tmac

Adventurer
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LOL.jpg

lol.PNG
 

Tmac

Adventurer
<Silver Donator>
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Holla, just hold that shit until it changes your life. Will take a few years.

If I become a hundred thousandaire I'll take you out for drinks.

Is there a more convenient place to keep this than a random coinbase wallet? My Exodus wallet won't hold it :(

Also, wtf does it cost 50 coins to move DOGE off Binance and into Exodus wallet???
 

James

Ahn'Qiraj Raider
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Ethereum will make me a millionaire by the end of this year. My theme song this year:
I use a combination of MyEtherWallet and MetaMask, and I use both Coinbase and Gemini as fiat bridges -- take loans against my crypto in Aave if I ever need cash for something.
 
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Tmac

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First time I heard of Aave was this week when Jackie Treehorn Jackie Treehorn mentioned it.

So, you basically put a crypto up as collateral for a loan of another currency using Aave? What's with all the special APY and APR rates?
 
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James

Ahn'Qiraj Raider
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You should read the Aave whitepaper: aave/protocol-v2

For participating in certain pools, Aave is giving out its governance token at various rates depending on the liquidity and demand of that pool. Aave tokens are worth about $440 right now, so it's just a nice thing to get. Typically these things build up huge treasuries and the DAO running it comes up with ways to give it out. There's also a promotion being run with MATIC on Aave's L2 platform, but I haven't played around with it any.

There are better solutions than Aave for your crypto, but it's certainly the easiest and one of the safest, imo.
 

Jackie Treehorn

<Gold Donor>
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I’m getting about 19 percent on my MATIC right now. Made a whole 15ish coins today. Which at 75 cents each isn’t a lot right now but as they go up to dollars and compound it’ll be $$$.
 

TJT

Adrenaline Junkie
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I'll bite on this Truebit I guess.

Can someone explain to me that if I transfer something to a wallet, like coinbase wallet, is it just on that phone? If I drop my phone in the lake is that shit gone? I don't have any desire to do cold storage with this stuff.
 
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Rajaah

Paperhands McGee
<Gold Donor>
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I'll bite on this Truebit I guess.

Can someone explain to me that if I transfer something to a wallet, like coinbase wallet, is it just on that phone? If I drop my phone in the lake is that shit gone? I don't have any desire to do cold storage with this stuff.

I'll also bite. Unfortunately Truebit is a pain in the ass to get currently, and I can't get anything to work right in terms of Uniswap. I've got Ether in my Coinbase Wallet ready to convert into Truebit. In-app it only gives me the option to add more Eth in the wallet. Uniswap just connects me to a generic wallet instead of the actual one I have. I'm sure I'm doing it wrong but it's also 3 AM so I'll look at it again later.
 

swayze22

<Bronze Donator>
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38d 11h 30m
I'll also bite. Unfortunately Truebit is a pain in the ass to get currently, and I can't get anything to work right in terms of Uniswap. I've got Ether in my Coinbase Wallet ready to convert into Truebit. In-app it only gives me the option to add more Eth in the wallet. Uniswap just connects me to a generic wallet instead of the actual one I have. I'm sure I'm doing it wrong but it's also 3 AM so I'll look at it again later.
i'm stiumlated by the flobee and james + others conversation. currently connecting uniswap to my coinbase so i can throw money at shit ive never heard of.

you need the coinbase app AND the coinbase wallet app to link it to Uniswap. you open the CB wallet and scan the QR code to link your wallet to Uniswap and should be good to go.
 
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LachiusTZ

Date the ban will be lifted: Never
<Rickshaw Potatoes>
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I'll bite on this Truebit I guess.

Can someone explain to me that if I transfer something to a wallet, like coinbase wallet, is it just on that phone? If I drop my phone in the lake is that shit gone? I don't have any desire to do cold storage with this stuff.

It's just like an e trade account, unless I'm not understanding the question.
 

Gravel

Golden Baron of the Realm
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128d 2h 25m
I'm not trying to shit on anyone by saying this, but it still amuses me that the only reason anyone seems to put anything into crypto is still "it's an investment" and they're hoping to cash in.

To me the whole thing still reeks of a Ponzi scheme where no one actually gives a shit about "using" the crypto, but they'll endlessly rattle off how it could be useful decades from now in some utopian fantasy.