Bitcoins/Litecoins/Virtual Currencies

James

James

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Jackie Treehorn said:
Thinking of finally buying Truebit for the long haul. James James are you still no less mega bullish on it over the coming years?
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Aye, it's a long term hold for me and I'm setting up a rig to be a solver. Jason Teutsch is almost as brilliant as Vitalik, I highly recommend finding out everything you can about the dude, and Sami is an extremely solid developer. It seems like the first real use case will be the Optimism rollup in July, but there's a few projects working on it right now, e.g. Livepeer and Zippie.
 
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Gator

Gator

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Jackie Treehorn said:
I love MATIC but buying something at 106 percent up when Bitcoin is going back and forth where it is would be unwise. Might it go back to $2.60? Sure, buuut the lord giveth and the lord taketh away.
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Yea, I agree. I'm not very good at reading the market and swing trading so I'm in it for the long term. I just need to sit on my hands.
 
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Jackie Treehorn

Jackie Treehorn

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James said:
Aye, it's a long term hold for me and I'm setting up a rig to be a solver. Jason Teutsch is almost as brilliant as Vitalik, I highly recommend finding out everything you can about the dude, and Sami is an extremely solid developer. It seems like the first real use case will be the Optimism rollup in July, but there's a few projects working on it right now, e.g. Livepeer and Zippie.
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IN. I had 35 grand left from buying a few other things, so I figured this was a great an investment as any. Especially with Vitalik having specifically mentioned it recently more than once, plus all the random stuff you've posted. It looks like this is one of the last few remaining hidden gems that will break out bigly.

It's just a matter of time before people pick up more on Vitalik and other big figures talking about it, and it skyrockets. Not to mention the fundamental use case for it. And the fact it's dipped down from a $1+ recently makes this a no brainer.

TrueBit.jpg
 
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Daezuel

Daezuel

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Jackie Treehorn said:
IN. I had 35 grand left from buying a few other things, so I figured this was a great an investment as any. Especially with Vitalik having specifically mentioned it recently more than once, plus all the random stuff you've posted. It looks like this is one of the last few remaining hidden gems that will break out bigly.

It's just a matter of time before people pick up more on Vitalik and other big figures talking about it, and it skyrockets. Not to mention the fundamental use case for it.

View attachment 355268
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mother of god danger GIF
 
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Daezuel

Daezuel

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Jackie, if this pays off are you buying FOH island for all us bros to go hang out and do lines?
 
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James

James

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Jackie Treehorn said:
It looks like this is one of the last few remaining hidden gems that will break out bigly.
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This is my thought on it as well -- Chainlink would have been another one to get in on the ground floor with, but I missed that opportunity. So lesson learned on Chainlink, off-chain data oracles are extremely important, I'll bet off-chain computation markets are as well. Decentralized application development is going to look totally different next year, can't wait to see what rolls out.
 
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Rajaah

Rajaah

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Edaw said:
So, I decide to go through some old hard drives from years past. I found a wallet.dat on one.

View attachment 355245

I'm rich!
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If I'm reading that right... you bought around 25 cents worth of Bitcoin back in the day (2012 price averaged around $8.00 so I'm roughly extrapolating from that)? And it's worth about $1000 now?

$1000 is certainly a nice thing to find in the couch cushions, but why'd you only buy cents worth of BTC back then? Unless you bought more, sold it later, and left a tiny bit in the account (much the way I have like 22 cents of Doge in my account now that I can't get rid of).

If that's the case...well, I'm no longer upset about not being able to clear out my accounts. That 43 cents of MANA might be worth like 4300 in ten years when we're all living in this weird Ready Player One VR dystopia.
 
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Tmac

Tmac

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Rajaah said:
If I'm reading that right... you bought around 25 cents worth of Bitcoin back in the day (2012 price averaged around $8.00 so I'm roughly extrapolating from that)? And it's worth about $1000 now?

$1000 is certainly a nice thing to find in the couch cushions, but why'd you only buy cents worth of BTC back then? Unless you bought more, sold it later, and left a tiny bit in the account (much the way I have like 22 cents of Doge in my account now that I can't get rid of).

If that's the case...well, I'm no longer upset about not being able to clear out my accounts. That 43 cents of MANA might be worth like 4300 in ten years when we're all living in this weird Ready Player One VR dystopia.
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Breh, don't Captain Hindsight this mans 2012 penny stock. LOL!

Like he doesn't already ask himself the same gd question.
 
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Rajaah

Rajaah

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I'm in a super similar boat. I got a Coinbase account back in like 2014 to buy BTC and my GF at the time told me not to. She deterred me from sinking $100 or 1000 into it or whatever my plan was, but I might have snuck a $10 in there and forgotten about it. I don't even remember what computer it might have been on, and I've got a bunch of old laptops that don't turn on anymore. It's probably nothing, but it might be worth a rummage and some repair-work on the off chance that I've got an account with $2000 on it somewhere.

Actually, I never used any kind of storage wallet. It was just regular Coinbase that I got. If I did put any money on it, which I probably didn't, it would be in the account, probably not a wallet.dat. Maybe I should try logging in with old email accounts instead of digging on old computers.
 
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Edaw

Edaw

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Rajaah said:
I'm in a super similar boat. I got a Coinbase account back in like 2014 to buy BTC and my GF at the time told me not to. She deterred me from sinking $100 or 1000 into it or whatever my plan was, but I might have snuck a $10 in there and forgotten about it. I don't even remember what computer it might have been on, and I've got a bunch of old laptops that don't turn on anymore. It's probably nothing, but it might be worth a rummage and some repair-work on the off chance that I've got an account with $2000 on it somewhere.

Actually, I never used any kind of storage wallet. It was just regular Coinbase that I got. If I did put any money on it, which I probably didn't, it would be in the account, probably not a wallet.dat. Maybe I should try logging in with old email accounts instead of digging on old computers.
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I'm pretty sure I was just experimenting with mining on what was once my gaming machine.

I pulled it out of storage as a possible EQ box. :smart:
 
Jackie Treehorn

Jackie Treehorn

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James said:
Aye, it's a long term hold for me and I'm setting up a rig to be a solver. Jason Teutsch is almost as brilliant as Vitalik, I highly recommend finding out everything you can about the dude, and Sami is an extremely solid developer. It seems like the first real use case will be the Optimism rollup in July, but there's a few projects working on it right now, e.g. Livepeer and Zippie.
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Can you tell us about setting up a solver rig? Is this just something you do because you believe in the project at the moment, or is it a kind of thing you do and get X coins back for helping process things.
 
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James

James

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It's both, really. Being a solver seems like it's the most involved out of the three roles in the Truebit system, which is why I'm angling for that one. I'm hoping that my early involvement in the system pays out similarly to my early involvement in Ethereum, but for the most part that's irrelevant to me. A healthy blockchain ecosystem has an expectation that normal users are helping verify/validate the blockchain, and I consider myself a part of that cadre.

Goldman Sachs on Bitcoin vs Ethereum: "The Amazon Of Information": Goldman Initiates On Crypto, Sees Ethereum Overtaking Bitcoin | ZeroHedge

Given the importance of real uses in determining store of value, ether has high chance of overtaking bitcoin as the dominant digital store of value. The Ethereum ecosystem supports smart contracts and provides developers a way to create new applications on its platform. Most decentralized finance (DeFi) applications are being built on the Ethereum network, and most non-fungible tokens (NFTs) issued today are purchased using ether. The greater number of transactions in ether versus bitcoin reflects this dominance. As cryptocurrency use in DeFi and NFTs becomes more widespread, ether will build its own first-mover advantage in applied crypto technology.

Ethereum can also be used to store almost any information securely and privately on a decentralized ledger. And this information can be tokenized and traded. This means that the Ethereum platform has the potential to become a large market for trusted information. We are seeing glimpses of that today with the sale of digital art and collectibles online through the use of NFTs. But this is a tiny peek at its actual practical uses. For example, individuals can store and sell their medical data through Ethereum to pharma research companies. A digital profile on Ethereum could contain personal data including asset ownership, medical history and even IP rights. Ethereum also has the benefit of running on a decentralized global server base rather than a centralized one like Amazon or Microsoft, possibly providing a solution to concerns about sharing personal data.



A major argument in favor of bitcoin as a store of value is its limited supply. But demand, not scarcity, drives the success of stores of value. No other store of value has a fixed supply. Gold supply has grown nearly ~2% pa for centuries, and it has remained an accepted store of value. Plenty of scarce elements like osmium are not stores of value. In fact, a fixed and limited supply risks driving up price volatility by incentivizing hoarding and forcing new buyers to outbid existing holders, potentially creating financial bubbles. More important than having a limited supply to preserve value is having a low risk of dramatic and unpredictable increases in new supply. And ether, for which the total supply is not capped, but annual supply growth is, meets this criterion.
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