posted ago by comakevin76
+10 / -2
Elon Musk? Why?
Did this guy not date and was obsessed with Amber Heard? Now bitcoin? What happened to Gamestop? I mean what is special about a currency that can vanish like the wind? I mean I want to jump in but help me out here. Pedes? Anyone?
Elon Musk? Why?
Did this guy not date and was obsessed with Amber Heard? Now bitcoin? What happened to Gamestop? I mean what is special about a currency that can vanish like the wind? I mean I want to jump in but help me out here. Pedes? Anyone?
Bitcoin isn't likely to vanish like the wind. It's difficult to impossible for governments to seize properly secured cryptocurrency.
The dollar has no limit to its dilution and no backing assets.
The more Biden's government spends our money through inflation, the more the value of non-inflationary assets will rise.
I'd suggest hanging onto as many paper dollars as you can. The people of Weimar showed us what paper currency is really worth.
Seems pretty high. There are many other cryptos out there cheaper that you can take a chance on putting some money in and sitting on if you have it. dont spend anything you cant afford.
Cashless society =one world order wet dream
It is cash though.
Monero is a much better cash analogue than Bitcoin.
Contrary to popular opinion, bitcoin offers effectively ZERO privacy and is far more traceable than pretty much any other asset on earth.
I saw some of what was posted. No just wanted to remind you Gamestop shorts got their money back. Real Gold in your hand never goes away. Imagine if they short Bitcoin? It is just a click away? Hate all you want. Just sayin. Remember the movie the Accountant with Ben Affleck? His little brother confronted a short in his car? I am saying it has been done before. People have short memories as well. Not me. But that is just me perhaps. I give no advice either way.
Gold is much more easily shorted "nakedly" than bitcoin is because of the relative difficulty in taking physical delivery of gold vs self-custody of bitcoin.
Bitcoin shorting does exist and is quite common, if you're feeling brave you can do so at https://kraken.com
I'd love to find out more about Bitcoin. I tried a few years ago to buy some but it was damn complicated. Can a pede help a dude out to understand Bitcoin and why it might be a good idea to buy some? Thank you!
the main tenets of money are:
can't be replicated by bad actors
can be easily transferred
is limited
is divisible
bitcoin fulfills all of those
it's dollars EVOLVED. without the sleazy tendrils of government holding a sword over its head just waiting to print all of your savings into toilet paper
It's a krypto (untraceable) currency that is based on a ponzi scheme but nevertheless is treated with real value.
It's a good idea to buy some when it's cheap, like all currency trades. Buy it when it's worth 40k each coin? no thanks.
This is false, Bitcoin is not in any sense untraceable, it is VERY traceable. If privacy is your goal Monero is a much better option.
It's no more of a ponzi scheme than any fiat currency, the difference is that the issuance of bitcoin is predefined, effectively immutable, and nearly impossible to confiscate.
Well if you can be deplatformed from the internet and banking institution, a digital currency with no tangible value that is dependent on an electronic device seems just a tad bit sketchy to me.
That's a reasonable fear, but it speaks to a misunderstanding to how cryptocurrency functions.
One of the primary goals of the Bitcoin design is to be "censorship-resistant"
One of the first big tests of this resistance was when traditional payment networks de-platformed Wikileaks after the release of the State Department cables.
Wikileaks was able to solicit bitcoin donations despite Visa, MasterCard etc... blocking all payments to them at the direction of the US State department.
Similarly Gab is able to accept funds via bitcoin despite being de-platformed by all major banks. Snowden is another example and there are many more.
The idea with cryptocurrency is that you are your own bank, and ANY bitcoin miner can get your transactions verified on the blockchain.
Other block chains have been infiltrated before, not that I am saying that Bitcoin will or won't but it is cause for pause. Also, I am not sure what would happen if my computer took a shit that was my 'wallet' attached. Also, if crypto becomes the main form of currency, which many governments and companies are leaning towards it worries ne that my main currency can disappear during a power outage.
I think it is neat, but I would never use it as a primary bartering trading tool.
Lately, I like the idea of seeds and rare merals (but the silver market is whacky at best right now). Physical worth and application I would take, even over paper bills which are only good as kindling if there is a massive collapse.
This is why bitcoin is valued much higher than newer cryptocurrencies with more features. It has proven itself secure and the lack of features reduces the potential attack surface and the massive mining investment also greatly contributes to the security model. Smaller block chains are more susceptible to what is called a 51% attack which can roll back transactions.
Your wallet can be reduced to a secret key represented by a 12 or 24 word phrase stored on paper. You should definitely back this up to prevent losses from computer crashes. Hardware wallets are another option which can help prevent loss from hacks as they effectively keep your wallet offline and inaccessible to others even if your computer is hacked.
Good/silver are better apocalypse currencies.
Cryptocurrency is most useful as a hedge against bad central bank policy or as a means of circumventing financial censorship and surveillance (though Monero is what you want for privacy not bitcoin)
Also, thanks for your information and insight.
Should I even bother investing at all? I'm leery, to say the least.
Not unless you've got good info. And always buy cheap anyway.
Thank you! I really appreciate your advice!
The gamestop thing was temporary to fuck over the short sellers.
Just remember George Soros was the first real shorter. And that rocket which blew up? I could have fixed it with a modified gyroscope to land upright. But that's me. Sometimes the simplest idea is the answer. Just a thought.
nope, you already have misconceptions and a bad attitude
why would we bother helping you
The attitude we love around here when people ask honest questions!
/s
I hate the /s
It's like you're pandering to the soft brains that can't read subtext.
The widening of the mental achievement gap is why we're failing.
he didn't ask an honest question
he said, "bitcoin is shit, why would elon buy it!?"
he says he basically knows NOTHING about bitcoin, yet has the opinion that it's shit and elon is misguided and stupid for buying it
fuck off with this shit