If you don’t have friends, you have no one to make you jealous.
These conversations would probably be a lot more productive if the anti’s could spend some time learning about more than just the most simplified basics of bitcoin, which is the least interesting token and has very little to do with current blockchain and cryptocurrency developments. It’s like going into the fast food thread over and over again to say how terrible it all is because you don’t like McDonald’s hamburgers.
I’m assigning homework for the next round.
- Learn what smart contracts are
- Learn what stablecoins are
- Learn what a proof-of-stake network is
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Bubble
Super bubble
Tulips
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OK, granted, but you missed my whole point. Your Bitcoins aren’t generating passive income, you are exchanging them for shares in a profitable venture that does generate passive income. It’s like saying a stack of dollars generates passive income because I could buy stocks with it.
I’m assigning homework for the next round.
- Learn what smart contracts are
- Learn what stablecoins are
- Learn what a proof-of-stake network is
This is like when the Libertarian bros insisted that I needed to watch five hours of yootoobes to really get it. It’s just layers of sophistry that obscures the fundamentals.
Tell us you don’t know anything about crypto without telling us you don’t know anything about crypto.
There’s also the downside that my friend experienced of having his bank account and coinbase balance drained by hackers who walked into a T-mobile store and had his number switched to a different SIM. And there are other ways of hijacking someone’s text # that don’t involve walking into a store.
If someone hacks into my online banking and drains my bank account, the bank’s insurance covers it, and I can get that money back. But his bank wouldn’t cover this because the transaction was made from a legitimate connection to coinbase. Coinbase of course is useless.
Now you’ll say - well that guy’s an idiot. Yeah, an idiot who assumed that coinbase’s and the bank’s default of texting codes for password reset was safe.
Since this happened, my friend keeps posting new people he met who had the exact same thing done to them. Of course no one thinks this can happen to them. But the reality is it will to a certain % of crypto holders.
I believe someone targeted him because of his coinbase account. Everyone else he met had a coinbase account. Maybe they were able to probe coinbase for hacked emails to find active accounts. Maybe they could actually track his wallet balance somehow?
Sure there’s a login app, which is probably safe. But I thought text messages were safe until a couple months ago. I just blithely assumed banks would never use text to reset passwords if there was a chance texts aren’t secure. I don’t like the idea that I need to be my own security expert, constantly scanning the horizon for new threat vectors. I want an institution I can trust, and who will reimburse me if I get defrauded.
I unhooked my bank from my coinbase account a few years ago. After what happened to my friend I deleted the coinbase account entirely.
The one thing I’ve gleaned from this discussion is that it is indeed still early.
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I don’t have any dog in this fight but I’ll be interesting in crypto when it fulfills any of its promises. After doing some research it looks like BTC takes 10+ minutes per transaction and costs $60. Eth can be faster, or can take days, and will cost a bit less, but they’re both failures for a transactional currency where you can use them to buy things on a daily basis.
Will eth proof of stake fix any of that? IDK, but I feel like I’ve been hearing about it for years and its never happened. When people are using crypto as a currency or basically anything other than a speculative commodity poke me and I’ll throw some USD at your shitcoin.
ok then don’t learn more about it
goldman sachs seemed to put a lot of effort into their analysis again this year. it might contain information on crypto from a professional financial perspective
but, again, don’t if you don’t wanna
i sent bitcoin the other day and it cost less than 50 cents.
it used to cost like $60 yeah, years ago
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I mean beetlejuice is kinda busy in his douchey mansion but he can get his butler to get someone to do it. It’s very important to him that you do
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beats me, dude. i was buying software online and they had btc option, i’m like no way, cause the thing was $5 or so. but i set it up and the quote was like, mega reasonable
That’s fair, I think most of us here feel similarly. I had more stock exposure than crypto exposure until the runup this year. The bull case for stonks is money printer go brrrr plus tanks which is quite a strong case. Just can’t blame people who look at a bunch of bad options - we can’t afford houses - and choose to invest in something new and different that happens to be based on memes/culture/community because that feels as real to us as anything.
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Huh weird thing I read said $60 was average and for a while it was in april but now much lower idk. What are some physical items you’ve bought with BTC lately?
It has been in that price range for quite a while. Pretty sure I paid even less than that recently.
There are multiple successful networks already doing what Ethereum keeps failing to deliver. Transactions take seconds and cost pennies. Sometimes fractions of a penny.
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i guess you are not member of the bayc
I’m closer to your status than theirs unfortunately.
Yeah, looking at my txs from last few months the lowest I paid was 0.0000057 btc fee to send at ~$50k btc.