 |
submitted by /u/CoinCorner_Sam [link] [comments] |
Saturday, 14 May 2022
To the class of 2021: don’t make the mistake I did
I’m class of 2017, and went in fairly hard back then, but not nearly as hard as I could have. No regrets there… I was new, and didn’t trust Bitcoin like I do now. I rode it up, and when it all ended in 2018, I backed off. I stopped DCAing because I thought “had enough” based on my current level of belief. I burnt out because I’d been down the rabbit hole for a year or more. I put my coins in cold storage and more or less about Bitcoin.
Don’t make the mistake I did.
I started reading and learning even more (this time about lightning network and running nodes) in 2020, and took a whole handful of orange pills. But now, instead of stacking Sats at $8k-14k, I stacked them from $30k-69k-28k. I’m paying 3-10x as much, just because I moved on to other interests when the bull run ended.
I have few regrets. I’m grateful as all hell that I bought what I did in 2017, and had the good sense to HODL it in multisig. But I wish I had taken my own advice and DCA’d.
Bitcoin is going to be in the media less. Your friend groups and Reddit subs will become less active for a year or two. But don’t forget about Bitcoin.
Keep learning more. Keep orange-pulling people. Set up a weekly DCA buy, and forget about that instead.
You’ll thank me in 2024-2025.
[link] [comments]
your game plan
How much you're down due to this ongoing crash? Whats your game plan from now on?
[link] [comments]
source https://www.reddit.com/r/btc/comments/uoyhta/your_game_plan/
Friday, 13 May 2022
I LOVE this dip. Filling up my fidelity 401k past the 10% limit!
Fidelity recently let us put Bitcoin in our 401ks but the boomers who run it only let us put 10% of the balance into it. Which of course I maxed out As soon as it was allowed.Well guess what, since BTC is down, it's no longer 10% of my portfolio so today I could buy more.
I'm honestly hoping it keeps dipping so I can keep buying more and eventually will get my entire 401k in BTC in spite of the stupid restriction. Because as it falls, it lets me buy more and more with the other assets in there. The best part is, it's all coming out tax free eventually because it's a 401k.
That's probably why fidelity only lets you put 10% tbh, some deal they have with the government so we don't make too much tax-free gains.
[link] [comments]
Thursday, 12 May 2022
Musings from someone who has been buying since 250 US dollars /bitcoin
This sub has been a guilty pleasure of mine for almost 8 years now. The memes, the fear, the panic, and the echo chamber quality of it all. But above all, I stay for the quality memes. Here are some of my musings. Hopefully it can offer some comfort for those of you who bought at ATH.
1) Don't mention explicitly the total amount that you have. I made this mistake early on and the amount of "advice" I got to sell from the original run from 1000 to 3000 was incredibly irritating. You cannot imagine how much louder it got from the 17k or 18k peak when it went all the way back down to 4k or 5k. The panic was everywhere. Do not be surprised if the same happens again on this downturn.
2) Stick to the fundamentals. Price discovery does not necessarily reflect the underlying value of bitcoin. Are blocks being mined? Are transactions being processed? If yes, just keep your head down and continue holding. I anticipate, even expect, that bitcoin will keep getting attacked; bad actors will keep coming and going (Jihan, your tweet will forever be hilarious). If you want to do your part (and can afford to), run a node.
3) Please do not trade (including leveraged trades). I started off as a "trader". I started with 100 and tried to do the compound math game of closing the day with 5% gains. Being able to pull it off for a few days in a row (in a bull market), I thought I was a genius then all those years ago. After a month, however, I ended up with slightly less than 100. Then, by a sheer stroke of luck, it clicked for me that trading was a fool's game. Most traders lose. I did not think I was the exception to the rule. It was after this moment I started to just quickly buy and hold.
4) For whatever reason, being in bitcoin has somehow changed my spending habits and how I view material things. I try to live on less and I try to unsubscribe from the endless consumerism that is everywhere. It almost feels as if unchecked consumerism, inflation, and capitalism are all somehow interconnected for me. Someone else can probably word it more eloquently.
5) I have found it helpful to view bitcoin as a savings vehicle. I continue to buy today, even when it was above 55000, 40000, etc. It does not matter. I just want to protect what "value" I have in FIAT from getting eroded by monetary policies that do not quite seem to benefit the small fish.
6) I have not found it helpful to talk about it with friends and family. So I mostly stay quiet now, even going so far as to feign ignorance on the topic if needed. I think I am terrible at explaining it (might be why). The reactions I have seen over the years are is that it is fake, can be manipulated, what if it goes to 0, what if I am wrong, and when will I sell? I rarely try to correct their thinking. I do subscribe to the quote that people will buy into it at the price they deserve.
7) I must confess, I have not read the whitepaper. I have copies of it, but I have never read it. Yes, this is heresy.
8) I do not own anything else. I just do not understand it. There are so many technical terms now that are thrown around. It is intimidating. I remember receiving messages back in the day when a certain coin, starting with E, was priced at $3. Maybe some of you can too. What I have seen, however, is that a lot of these other things come and go, like the seasons. I wonder why that is.
9) Stay for the memes!
I cannot and do not say these things in real life anymore. May this help some of you new bitizens in this space.
PS. Hopefully, I did not make any typing errors. English is not my main language!
[link] [comments]
Address privacy questions
I’m using a cold storage wallet and have generated several Bitcoin addresses with it. Can someone see the different addresses I have if I have sent Bitcoin from each?
Sending from an address exposes your public key right? So multiple addresses generated from the same private key will have the same public key?? Am I wrong?
[link] [comments]
source https://www.reddit.com/r/btc/comments/unhr6h/address_privacy_questions/
Best Place To Put BTC And Hold Your Private Keys?
Just looking to consolidate some accounts holding BTC here and there.
Would love it if there's a way to have private keys and earn a small amount of APY but don't know if that's possible. Suggestions?
[link] [comments]
source https://www.reddit.com/r/btc/comments/unh8wt/best_place_to_put_btc_and_hold_your_private_keys/
Is anybody panicking?
I keep seeing articles, stories, posts, videos about how much bitcoin investors are panicking. I'm not panicking...have these people actually talked to anyone who holds bitcoin?
Is anyone here panicking?
[link] [comments]
Wednesday, 11 May 2022
ok time for 100k
Read title. New future ATH let's set the goal
[link] [comments]
source https://www.reddit.com/r/btc/comments/umpsg8/ok_time_for_100k/
Tuesday, 10 May 2022
How Web 3.0 Compared To Web 2.0 And 1.0 - How Web Becomes Decentralized and Tokenized
While in Web 2.0, our information was harvested and sold to the highest bidder essentially making us the property, Web 3.0 instead solves this problem through the use of tokens, allowing us to take control of our data, content and creations.
Here is an analysis of how Web 3.0 is bringing the decentralization of cryptocurrencies to our day to day living on the internet: Web 3.0 | Everything You Need To Know, Simply
[link] [comments]
source https://www.reddit.com/r/btc/comments/ulykt5/how_web_30_compared_to_web_20_and_10_how_web/
how can a grizzled old holder help?
Suppose there were some magic words which could be said from a veteran of multiple crashes, booms, and busts, dips and drops, that would help.
What would those words be?
Would it help you to know i'm shuffling my portfolio around to increase my BTC exposure any way i can?
If you're frightened and worried about this drop, please, i'd love to help. Let me know what kind of words would help and i'll format them just for you with love :)
[link] [comments]
Monday, 9 May 2022
Let’s sit down and have a fireside chat. Roosevelt used these to calm a nation.
Bitcoin isn’t trying to replace fiat. What Bitcoin is trying to do is replace gold as a store of value.
I could have a long and drawn out conversation with a Gold supplier or I could buy Bitcoin which is fast and digital.
You could make an environmentalist argument, but obviously Gold is still much worse even by todays standards. There’s no Bitcoin antagonist that would argue Gold is more environmentally friendly than Bitcoin.
Bitcoiners take the path of least resistance, meaning green energy gives them the most bitcoin for the least amount of money. When using electricity it’s about where it comes from. Bitcoin promotes green energy by a default along with prompting the discussion around how we need to utilize more green energy.
Bitcoin is one of only finite resource in the universe. There’s an asteroid in our solar system with enough precious metals to equal that of 700 quintillion dollars. NASA along with SpaceX and Elon Musk are planning a probe to that asteroid in the next few years. It’s almost ludicrous to think that people can continue to build generational wealth with the idea of precious metals staying valuable.
But gold is tangible and Bitcoin isn’t!! We are in a day and age where our kids live almost exclusively in a digital world. They could care less about what’s tangible. Anyone that doesn’t already see this is letting the world pass them by.
Times are changing no matter if we like them or not, but we’re lucky enough to be a part of it. History is written by the victors. Which side of history will you be on?
Edit: Yes bitcoin yes developed to be a peer to peer electronic cash system. As with anything decentralized it has evolved into a store of value.
[link] [comments]
BCH upgrade
Will the new upgrade give DEFI and Smart contracts running on ETH the ability to switch over to SmartBCH via EVM? And if so, will we see a migration over to the BCH network due to lower gas fees vs ETH?
[link] [comments]
source https://www.reddit.com/r/btc/comments/ulauje/bch_upgrade/
Some fresh thoughts on proof of stake for Bitcoin
This post was censored at r/Bitcoin. I have heard r/btc is open to free speech/ideas. So please hear me out if you have 10 minutes to waste.
I'm pretty near a Bitcoin maxi. About 88% of my crypto is in Bitcoin atm, 11% in a high cap alt I believe in long term (not ETH), and 1% in a low cap alt (lottery ticket/hobby). The alts are both proof of stake (POS), and I have those coins staked on their native onchain platforms for residual income. I own the private keys, and trust only the smart contracts, no person or country/province can KYC my ass and seize my coins. OTOH, my Bitcoin (vast majority of my crypto) sits in cold storage earning nothing because there is no decentralized staking option. Yes I could lend the Bitcoin via Celsius or crypto.com or Nexo etc. which I see many here are doing. However, that is antithetical to the main idea of Bitcoin (unseizable, uncensorable, unprintable). You know those guys are running fractional reserves, and it takes just one bad bear market for a Ponzi to implode. Ask Bernie Madoff investors in 2008, or QuadrigaCX in 2018, or Bitconnect, etc. I will not risk my precious Bitcoin in the hands of some reckless CEO lending it on to day traders and hoping withdrawals don't exceed deposits, while paying themselves and investors unsustainable paper returns. Play stupid games long enough and it becomes statistically more certain you will win stupid prizes.
What is the solution then to allow me to stake 88% of my crypto holdings (Bitcoin) for residual income while owning my private keys? Seems to me that POS is worth considering. For those about to say I am no Bitcoin maxi to even consider this, are you a Bitcoin maxi to lend your Bitcoin out to some Ponzi or CEX for a paper receipt? At least POS lets you own your private keys. Remember this line from Bitcoin rap battle in 2018: “You don’t need to trust the people you just need to trust the code.” Change can happen, and it is not always bad. Segwit was an improvement in block structure made in response to high fees / low throughput. It was great for Bitcoin. Today, plenty of Bitcoin "hodlers" are not actually hodling shit other than a Celsius network login/password. Not only does this risk their own Bitcoin, but it contributes to the devaluation of Bitcoin by helping create paper Bitcoin. POS can help solve both because your coins are locked in open source smart contracts, not in the SQL database of some CEX that might point to no real coins (ask QuadrigaCX bagholders), or be seized because KYC/AML or you might be a Russian (even if you live in Canada and do not support their war) or someone else the USA decides they dislike next week.
Can POS be done with a fixed supply? YES. Both my alts are fixed-supply coins (unlike ETH). You stake for fees + remaining block rewards, same as Bitcoin miners get right now. I would NEVER advocate changing the 21m supply cap and nor would that be necessary, it is a red herring to suggest otherwise.
Caveats? Sure. This is a huge programming task with the associated risks of bugs/exploits during the transition. Maybe even long term POS has some weakness that POW does not. Centralization might be one, though over time this would likely be less of an issue especially as people take their coins off exchanges to stake them onchain, and wider adoption continues.
Anyway, maybe a BIPxxx one day will be put forth. I’m an analyst and a coder of many years in myriad languages, but not a Bitcoin coder, so it would probably not be me, but just throwing this out there. I’m pretty sure it’s been discussed and shot down many times, but I haven’t seen any discussion of it lately other than how pissed people got when a speaker at the recent Bitcoin conference mentioned the idea. But with all the recent Bitcoin “hodlers” here casually mentioning giving up their private keys for a little side income from Celsius or crypto.com, I thought this might be worth a fresh look.
[link] [comments]
source https://www.reddit.com/r/btc/comments/ul8mj6/some_fresh_thoughts_on_proof_of_stake_for_bitcoin/
PSA: Anyone With a Computer & Internet Connection Can Run a Bitcoin Node FOR FREE. Just Download and Run the Free Software. You don't need to buy these raspberry pi's that are not primarily Bitcoin Nodes. Those Pricey Pi's Are Lightning Nodes AND Bitcoin nodes. There is a Big difference! Run A Node!
A Bitcoin Node is not a Lighting Node:
A Bitcoin Node Needs Only 5GB of Disk Space & a Internet Connection To Function.
But A Lightning Node Needs 1TB of disk space & Uses a Bitcoin Node To Function. These are often the raspberry pi's you see for sale or in pictures sometimes. You do NOT need these to run a Bitcoin node, or a Full Bitcoin node.
Both of these have different functions and purposes that you can read more about using google.
More on the difference between a lightning node and Bitcoin node here:
https://bitcoin.stackexchange.com/questions/78733/full-node-vs-lightning-node
A few sources for downloading the Bitcoin core reference implementation for free:
https://bitcoin.org/en/bitcoin-core/
You can also run luke-jr's Bitcoin Node Software to accomplish the same thing, He maintains this version of Bitcoin node software mostly on his own, while an army of developers maintain the versions above:
Both of these versions are free, and open source (meaning anyone can use them, modify them, or audit and view the course code: https://github.com/bitcoin).
[link] [comments]
Sunday, 8 May 2022
Ledgers require time, and time requires heat
 |
It is no accident that the 2nd law of thermodynamics is the only equation of fundamental physics that knows any difference between past and future. Because of this, I am convinced that proof-of-work is the only way to introduce time into the timeless digital realm. Everything else relies on external factors and is bound to collapse once these external factors provide false inputs. It goes even deeper than that: The problem of synchronizing clocks is ultimately an insoluble one. Bitcoin offers a practical solution to this impossible problem. You can not solve this problem without introducing a new arrow of time, a distinction between past and future. The link between time and heat is fundamental: without heat, a distinction between past and future is impossible. Without a distinction between past and future, a ledger - something that keeps track of things - is impossible. Once you understand the profundity of the problem, the beauty of Bitcoin's probabilistic solution becomes obvious. Synchronization via a difficulty-adjusted proof-of-work is the innovation. All Credit Should Go To : https://twitter.com/dergigi [link] [comments] |
"Do you all think this is why custodial LN is so commonly used?"
"Am I just the unluckiest bastard out there when it comes to LN or are there other people running into issues like this constantly and just not talking about it due to self-censorship?"
"I've even gone the simplest non-custodial route (Muun) and still have issues regularly."
[link] [comments]
source https://www.reddit.com/r/btc/comments/ukl0lq/do_you_all_think_this_is_why_custodial_ln_is_so/
"BCH has been integrated for over a year and the community hasn’t taken advantage. BCH may not survive on THORChain with growing competition among coins. It’s also the only DEX to support native BCH right now."
I didn't know this, not sure how many do, but Hal Finney was Cryopreserved! The ultimate way of storing your BTC keys!
I am currently reading Bitcoin: Everything Divided by 21 Million and found out Hal Finney was cyro-frozen. Pretty cool, especially if he left the keys to his BTC in his head.
[link] [comments]
Subscribe to:
Posts (Atom)
-
Crypto is pretty much the only reason I used Reddit anymore, and I'd like to stop using this website. submitted by /u/TheTruthHas...
-
submitted by /u/FearlessEggplant3036 [link] [comments] source https://www.reddit.com/r/btc/comments/12gt49l/supposedly_insiders_in_t...
-
submitted by /u/KillerHurdz [link] [comments] source https://www.reddit.com/r/btc/comments/a6bm9y/discussing_bitcoin_power_dyn...
![[link]](https://i.redd.it/mq8ikyul0bz81.jpg){kind=link}
![[link]](https://i.redd.it/cjy2wtm4a9z81.jpg){kind=link}
![[link]](https://i.redd.it/swqhzb1dq1z81.jpg){kind=link}
![[link]](https://i.redd.it/7dzcoyx9woy81.jpg){kind=link}
![[link]](https://i.redd.it/7s3x9czt9oy81.png){kind=link}
![[link]](https://i.redd.it/ypikf8w5goy81.jpg){kind=link}
![[link]](https://i.redd.it/nowm0zi0biy81.jpg){kind=link}
![[link]](https://i.redd.it/cottp4751ay81.jpg){kind=link}
