CuriousGeorge11
Registered User
- Messages
- 59
I'm haven't given up the day job but crypto has certainly changed my life for the better.Some people think crypto is a store of value. For them it would be a nonsense to use crypto instead of fiat, which no one argues is a store of value as it is unapologetically merely a medium of exchange.
You obviously do not think it is a store of value which makes me wonder why you have it in the first place. Also it is surely inefficient to be going through an exchange swap every time you go shopping.
On reflection I could see a logical position where you believe crypto is a store of value and yet you exchange it to € to buy your Corn Flakes. That would make sense if you had no source of fiat, or more realistically you immediately convert all sources of fiat to crypto. This would be similar to @argolis point, that maybe some folk convert all their € income to $ as soon as they receive it.
Looked up crypto airdrop.In february of this year anyone who got Neta airdropped to them got a €25k windfall, not taking profits would have been mental.
Anyone who got Evmos airdropped during this bear market has been blessed again
And anyone who is about to receive a decent portion of GNOLAND will very likely be receiving another 5 figure windfall. It would be wise of them to take some profits
Have I been a fool all along? I was working on the conviction that crypto is utterly worthless make-believe. I have not been at all shaken in that conviction. But if I was a bit smarter, like yourself, I should have seen that there was in fact easy pickings by gaming the Ponzi while it still had breath left in it. $25k "airdrops" indeed. I wonder am I too late to climb on this money tree.Investopedia said:An airdrop, in the cryptocurrency business, is a marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency.
I think you're getting sidetracked there Duke - there are no airdrops where Bitcoin is concerned. The world of poocoins is another matter entirely. If someone wants to open up a thread on other projects, have at it - but this one is firmly set on Bitcoin.
Why are you quoting the transaction price in fiat?I'm haven't given up the day job but crypto has certainly changed my life for the better.
I see people saying all the time that they wish they took profits in the last bull run and that's their biggest lesson that they have taken from it.
I certainly dont convert all my wages to to crypto but I was investing over the past 2 months and I will again if it dips again.
In february of this year anyone who got Neta airdropped to them got a €25k windfall, not taking profits would have been mental.
Anyone who got Evmos airdropped during this bear market has been blessed again
And anyone who is about to receive a decent portion of GNOLAND will very likely be receiving another 5 figure windfall. It would be wise of them to take some profits
Each transaction cost €0.0002
It's not a transaction. it's the value of the airdrop at the time of the airdrop.Why are you quoting the transaction price in fiat?
Each transaction cost €0.0002.It's not a transaction. it's the value of the airdrop at the time of the airdrop.
Your tulip comparison is been well and truly debunked. Good day to you Sir
Looked up crypto airdrop.
Have I been a fool all along? I was working on the conviction that crypto is utterly worthless make-believe. I have not been at all shaken in that conviction. But if I was a bit smarter, like yourself, I should have seen that there was in fact easy pickings by gaming the Ponzi while it still had breath left in it. $25k "airdrops" indeed. I wonder am I too late to climb on this money tree.
Indeed - but it's important to note that it has additional utility feeding into that role. It doesn't have to conquer every sovereign currency on earth in day to day currency use. It's the fact that it can and it will be used for the purposes of payment. It can and it will be used for international transactions. It can and will be used for settlement. And it can do that on a peer to peer, censorship resistant basis - globally. It doesn't have to be a category winner in payments - it just needs to provide that optionality - which it does.
This was effectively put to a vote when the fork happened. The market had a choice and the economic majority chose vastly in favour of BTC over BCH, and it's not even close - BTC is worth 190 times BCH right now,To me, it seems like the original Bitcoin project was plagued with issues, was not going to evolve and the Reddit community turned poisonous. I'm quite skeptical of Lightning-based solutions. BCH is closer to the original Bitcoin vision and where I see far more activity on Reddit of local hobby groups and businesses trying it out. I don't see that for BTC.
We look back at the South Sea Bubble with a smug disbelief. But there was something to the madness. The South Seas might have proven as lucrative as the East.
In a couple of hundred years they will look back not with smug disbelief but with almost denial - surely that didn't happen. Utterly worthless make-believe capitalised at 3 trillion $ and "airdrops" of utterly worthless make-believe at $25k a go.
Did I say a couple of hundred years? I meant in 20 years.
Yes indeed, I would only be human not to envy you with these $25k‘s dropping out of the sky on your lap.Looks like you missed the boat
Yes indeed, I would only be human not to envy you with these $25k‘s dropping out of the sky on your lap.
Just a point on the 'original vision' - as it comes up quite a bit. If what appeals to you is a solution for remittances/payments, etc - then that's cool. I get that. It would make sense to seek out a solution that optimises for this. However, it's entirely logical that as technology develops, it can take various twists and turns technically and in terms of use cases. Even so, we know from Satoshi's musings on the Bitcointalk discussion board back in the day that he/she acknowledged the likelihood of bitcoin developing such that it would act as a store of value.On Bitcoin, when I last paid attention it was around the split between BTC and BCH. To me, it seems like the original Bitcoin project was plagued with issues, was not going to evolve and the Reddit community turned poisonous. I'm quite skeptical of Lightning-based solutions. BCH is closer to the original Bitcoin vision and where I see far more activity on Reddit of local hobby groups and businesses trying it out. I don't see that for BTC.
Well, see above on the original vision. One other thing to bear in mind - ref. all of these projects and the choices they make, they're caught between the devil and the deep blue sea where tradeoffs are concerned. BCH went with bigger blocks - but bigger blocks also have consequences in terms of centralisation.BCH is closer to the original Bitcoin vision and where I see far more activity on Reddit of local hobby groups and businesses trying it out. I don't see that for BTC.
For sure - try Muun Wallet. DM me once you have it installed and I'll send you a few sats - so you can test speed of transaction/cost of transaction/ease of use, etc. It has definitely moved from the conceptual to real world use.I'm quite skeptical of Lightning-based solutions. . . I will check out Muun though.
I'm not going to go through the whole thing again - as a lot of time has been spent on it already. However, this is a non-issue as far as I'm concerned. People are going to utilise energy. The focus should be on the production end of things rather than vilifying what people use energy for. The Europeans have screwed up royally on this - and are now scrambling to put coal-fired plants back in operation. People get animated about Bitcoin's energy use and don't get animated at all - at the abundance of energy that is wasted at power plants every day (which Bitcoin can and will use - as power companies begin to co-locate BTC mining rigs at power plants). The whole thing is moot anyway as the energy debate is not going to stop the Bitcoin network. The only ones that may face-off on this are the Europeans - and lets see how that goes for them.Also, I'm not sure either are the long-term solution as the ideal solution wouldn't be so criminally wasteful of energy.
Everything has its place. Proof of Stake may be fine for what Ethereum will go on to achieve - but I don't believe it's the right solution for Bitcoin. European policymakers recently tried to suggest that Proof of Work and Proof of Stake are akin to combustion engines and EVs. This is nonsense. There are various trade offs making for imperfect decentralisation but Bitcoin is still far more decentralised than Proof of Stake-based projects. Central planners are either A. not going to get this or B. not going to want to get this - as they come from a mindset where decentralisation isn't a feature and benefit.Proof of Stake is a good start but that has its own problems.
I had a few of those guys that were behind that 'letter' that they distributed to various people in US government on my Twitter feed. Criticism is healthy - albeit I really start to second guess those criticisms where the complainants can't find one single positive or upside in an entire technology. That's not credible to me.There was a good post recently from Bruce Scheier on crypto referencing articles by Nicholas Weaver and David Rosenthal, it's worth a read to see if you feel BTC stands up to their criticisms.
One of the best points iirc was that there is zero recourse for fraud in crypto. If your funds are gone, they're gone, something which traditional banking does help with e.g. credit card companies will refund stolen funds. I don't know if there's a good solution except not carrying too much in one wallet. Won't be too popular with the public if users are regularly ripped off with no recourse.
Well, I don't see why this is in any way surprising. BTC is peer to peer money. A feature and benefit is that it can be self-custodied. However, that comes with great responsibility. What fraud protection does cash have? zero. I could simply take it off you. I could pass you fake cash. My point is that we've been using money that has no fraud protection for an age already.
I don't believe that any money that you can self-custody has more fraud protection than bitcoin does. How does a 50 euro note for example have more fraud protection?Do you honestly believe that money has NO fraud protection?
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