submitted by /u/halfcoinlife [link] [comments] |
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Sunday, 7 February 2021
Ever since the pandemic, All I do now is invest in bitcoin and not work. Are other people like this?
Much of my net worth is in bitcoin and ever since the pandemic hit I haven't had a job. Its my only source of income and all that I spend is just replaced with bitcoin. I really am having a hard time finding a job because my utility curve is so high I really don't need to work a job that I don't want to do, but I can't find a job that i want to do. im 22 m. is anyone else going through something like this ?
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To me, Bitcoin is a purely peer-to-peer electronic cash system. You can also call it sound money. But if it stops being cash or peer-to-peer, I couldn't care less about its branding (name and ticker), its PoW, and everything else. It simply isn't Bitcoin.
When BTC and BCH split the chain in two and started following different paths in August 2017, BTC decided to stop being peer-to-peer cash (by forcing a 1mb limit of transactions), while BCH decided to continue being peer-to-peer cash (by lifting the limit like Satoshi and every other bitcoin user intended from the beginning).
That's why I say BCH is literally the original Bitcoin, and that's what I use as cash. A ticker or PoW won't let you transact freely with your peers, it won't make your transactions instant, free and reliable. A purely peer-to-peer electronic cash system will.
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source https://www.reddit.com/r/btc/comments/lebnaa/to_me_bitcoin_is_a_purely_peertopeer_electronic/
DO NOT BUY BTC ON RH
So I made the newbie mistake of buying BTC in Robinhood. I am currently in the painful (and risky) process of selling my BTC on RH (limit sell) and immediately transferring the cash to Coinbase Pro and market buying back again. As you can Imagine, I have lost some sats... so far I have managed to lose 1,193,000 sats = 0.0193 BTC that are gone forever. But, to me at least it's been very worth the risk. Do not be like me, don't buy BTC on Robinhood.
I still have some BTC left to transfer so I expect to lose a few more sats, but I am very happy with the fact that most of my BTC are out of Robinhood and can do stuff with them now! Like transferring them whatever the f**# I want! (this is very powerful).
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