Skip to content
  • Categories
  • Recent
  • Tags
  • Popular
  • Users
  • Groups
Skins
  • Light
  • Cerulean
  • Cosmo
  • Flatly
  • Journal
  • Litera
  • Lumen
  • Lux
  • Materia
  • Minty
  • Morph
  • Pulse
  • Sandstone
  • Simplex
  • Sketchy
  • Spacelab
  • United
  • Yeti
  • Zephyr
  • Dark
  • Cyborg
  • Darkly
  • Quartz
  • Slate
  • Solar
  • Superhero
  • Vapor

  • Default (No Skin)
  • No Skin
Collapse

The New Coffee Room

  1. TNCR
  2. General Discussion
  3. The Bitcoin/Crypto Thread

The Bitcoin/Crypto Thread

Scheduled Pinned Locked Moved General Discussion
440 Posts 22 Posters 28.0k Views
  • Oldest to Newest
  • Newest to Oldest
  • Most Votes
Reply
  • Reply as topic
Log in to reply
This topic has been deleted. Only users with topic management privileges can see it.
  • KlausK Klaus

    @taiwan_girl said in The Bitcoin/Crypto Thread:

    There is pretty much zero chance that the US government will say that US dollars are not acceptable. To me, that means that it has some value and will continue to have some value. I know that next week, next year, next century, I can go into a store and buy something with US dollars.

    I don't disagree with what you wrote, but there's a non-zero risk of hyperinflation and a non-zero risk of countries/systems disappearing.

    I agree that it may very well be the case that Bitcoin ceases to exist, but one can be certain that there can be no inflation - except for the completely predictable mining until 2140 or so -, that it will survive the downfall of countries, and that there is no (known) way of manipulation.

    I've only invested an amount of money where I won't cry when it's gone. It's certainly a quite risky endeavour at this point. But I do also see a lot of opportunity in the idea. When you look at the more advanced crypto currency concepts such as "smart contracts", then it gets really interesting (Ethereum is a first step in that direction). It certainly has the potential to transform the way we do business.

    jon-nycJ Online
    jon-nycJ Online
    jon-nyc
    wrote on last edited by
    #27

    @klaus said in The Bitcoin/Crypto Thread:

    that there is no (known) way of manipulation.

    Of course there is, just get a certain percentage of the miners to act in tandem....

    Only non-witches get due process.

    • Cotton Mather, Salem Massachusetts, 1692
    KlausK 1 Reply Last reply
    • LuFins DadL LuFins Dad

      Which exchange do you all use? And how do you decide on which Cryptos to put some money into? It seems to me that while you would want to put half or most of your investments into Bitcoin, Etherium, and the other top 4-5, would it also make sense to invest small amounts into a lot of the smaller coins and see what happens?

      89th8 Offline
      89th8 Offline
      89th
      wrote on last edited by
      #28

      @lufins-dad said in The Bitcoin/Crypto Thread:

      Which exchange do you all use? And how do you decide on which Cryptos to put some money into? It seems to me that while you would want to put half or most of your investments into Bitcoin, Etherium, and the other top 4-5, would it also make sense to invest small amounts into a lot of the smaller coins and see what happens?

      I use Coinbase (I used to use Binance and Trust Wallet, but Coinbase makes it way more user friendly). Anyway, I have about 6 coins. 50% is in ETH, maybe 15% in BTC, the rest is spread across a few of the other coins, most that are coins based on the ETH network.

      Keep in mind less than 1% of my investment portfolio is in crypto, but figured I'd dip my toe in the water. Who knows, one of the coins might go to the moon. I do own 4 million SHIBA INU coins, so if we can get that to $1.00...

      1 Reply Last reply
      • MikM Offline
        MikM Offline
        Mik
        wrote on last edited by
        #29

        I think I have some somewhere. It was a deal where you sign up and you get like $5 or so free. Forget what it was called. It's probably worth less than nothing now.

        “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

        1 Reply Last reply
        • jon-nycJ jon-nyc

          @klaus said in The Bitcoin/Crypto Thread:

          that there is no (known) way of manipulation.

          Of course there is, just get a certain percentage of the miners to act in tandem....

          KlausK Offline
          KlausK Offline
          Klaus
          wrote on last edited by
          #30

          @jon-nyc said in The Bitcoin/Crypto Thread:

          @klaus said in The Bitcoin/Crypto Thread:

          that there is no (known) way of manipulation.

          Of course there is, just get a certain percentage of the miners to act in tandem....

          Yes, the 51% attack. But that would be pretty difficult to pull off, even for a government. And even then, it's somewhat limited what one can do even when one controls the 51%. For instance, you still couldn't just steal other people's money.

          KlausK 1 Reply Last reply
          • KlausK Klaus

            @jon-nyc said in The Bitcoin/Crypto Thread:

            @klaus said in The Bitcoin/Crypto Thread:

            that there is no (known) way of manipulation.

            Of course there is, just get a certain percentage of the miners to act in tandem....

            Yes, the 51% attack. But that would be pretty difficult to pull off, even for a government. And even then, it's somewhat limited what one can do even when one controls the 51%. For instance, you still couldn't just steal other people's money.

            KlausK Offline
            KlausK Offline
            Klaus
            wrote on last edited by
            #31

            @klaus said in The Bitcoin/Crypto Thread:

            @jon-nyc said in The Bitcoin/Crypto Thread:

            @klaus said in The Bitcoin/Crypto Thread:

            that there is no (known) way of manipulation.

            Of course there is, just get a certain percentage of the miners to act in tandem....

            Yes, the 51% attack. But that would be pretty difficult to pull off, even for a government. And even then, it's somewhat limited what one can do even when one controls the 51%. For instance, you still couldn't just steal other people's money.

            Also, by the way, I don't know if you've heard of "proof of stake" as an alternative to "proof of work", which is going to be deployed in a couple of crypto currencies soon - not only does it make the environmentally unfriendly "mining" unnecessary, it also makes 51% attacks much less likely because in that system you don't need 51% of the computing power but 51% of the currency - even if you'd manage to get that, you'd only shoot yourself in the foot if you'd use that position to manipulate, and hence devalue, the currency. It's quite interesting.

            1 Reply Last reply
            • LarryL Offline
              LarryL Offline
              Larry
              wrote on last edited by
              #32

              I cant help but laugh..... some of the very people who have laughed at me for buying gold - not gold certificates, not gold stock, etc.. but real gold - and told me that I was crazy for basing my view of gold being a hedge against the collapse of currency.....

              Are now telling us how wise they are for investing in a risky unproven digital currency because "it will be unaffected by currency collapses"....,

              BWAAAAHAHAHAHAAAAAA

              1 Reply Last reply
              • jon-nycJ Online
                jon-nycJ Online
                jon-nyc
                wrote on last edited by
                #33

                I know you’re not talking about me since I’m not a crypto bug, but it’s worth pointing out that I didn’t laugh at you for buying gold, I laughed at you for telling people to sell stocks and buy gold within 48 hrs of this century’s low water mark of the S&P.

                Only non-witches get due process.

                • Cotton Mather, Salem Massachusetts, 1692
                LarryL 1 Reply Last reply
                • jon-nycJ jon-nyc

                  I know you’re not talking about me since I’m not a crypto bug, but it’s worth pointing out that I didn’t laugh at you for buying gold, I laughed at you for telling people to sell stocks and buy gold within 48 hrs of this century’s low water mark of the S&P.

                  LarryL Offline
                  LarryL Offline
                  Larry
                  wrote on last edited by Larry
                  #34

                  @jon-nyc said in The Bitcoin/Crypto Thread:

                  I know you’re not talking about me since I’m not a crypto bug, but it’s worth pointing out that I didn’t laugh at you for buying gold, I laughed at you for telling people to sell stocks and buy gold within 48 hrs of this century’s low water mark of the S&P.

                  No, I wasn't talking about you. But my advise regarding getting out of the stock market wasn't tied to any certain time frame. I just view the stock market as being barely a full notch above bitcoin as far as investment stability. I don't think anyone should put their money into other people's hands, to "buy things that they might possibly wake up one morning and find that it shit canned overnight...

                  1 Reply Last reply
                  • HoraceH Offline
                    HoraceH Offline
                    Horace
                    wrote on last edited by Horace
                    #35

                    I'd probably have some money invested in bitcoin if my brokerage transacted it. But they don't, and I'm not motivated enough to open a robinhood account.

                    Education is extremely important.

                    1 Reply Last reply
                    • LuFins DadL Offline
                      LuFins DadL Offline
                      LuFins Dad
                      wrote on last edited by
                      #36

                      Woohoo! I got a $5.00 Bitcoin balance yesterday for signing up. It’s already up to $5.36!

                      The Brad

                      1 Reply Last reply
                      • LuFins DadL Offline
                        LuFins DadL Offline
                        LuFins Dad
                        wrote on last edited by
                        #37

                        Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…

                        The Brad

                        markM LuFins DadL 3 Replies Last reply
                        • LuFins DadL LuFins Dad

                          Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…

                          markM Offline
                          markM Offline
                          mark
                          wrote on last edited by
                          #38

                          @lufins-dad said in The Bitcoin/Crypto Thread:

                          Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…

                          What made you select Solana?

                          LuFins DadL 1 Reply Last reply
                          • markM mark

                            @lufins-dad said in The Bitcoin/Crypto Thread:

                            Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…

                            What made you select Solana?

                            LuFins DadL Offline
                            LuFins DadL Offline
                            LuFins Dad
                            wrote on last edited by
                            #39

                            @mark said in The Bitcoin/Crypto Thread:

                            @lufins-dad said in The Bitcoin/Crypto Thread:

                            Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…

                            What made you select Solana?

                            It’s probably Ethereum’s biggest competitor and can handle more transactions than Ethereum. It’s been listed in many of the top 10 lists and has shown pretty consistent growth. This is going to be a trial run for me, so I wanted a currency that would have a little bit of volatility but should at least maintain a pretty safe return. I actually got it somewhat on the cheap today, but it’s still dropped since then, lol. Ethereum is having a good day!

                            The Brad

                            markM 1 Reply Last reply
                            • KlausK Offline
                              KlausK Offline
                              Klaus
                              wrote on last edited by Klaus
                              #40

                              How about we deploy a TNCR smart contract on a blockchain, such that we can all participate?

                              The contract can involve external data (like: what is the weather on Feb 7, 2023, what is the price of AAPL two weeks after a particular sports event happened), randomness, money, ... . Could be some sort of lottery. We could play with toy money, just for fun, and for education. Or we could see whether people put their money where their mouth is by setting up bets on election results etc. 🙂

                              1 Reply Last reply
                              • Doctor PhibesD Offline
                                Doctor PhibesD Offline
                                Doctor Phibes
                                wrote on last edited by
                                #41

                                Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.

                                I was only joking

                                George KG 1 Reply Last reply
                                • LuFins DadL Offline
                                  LuFins DadL Offline
                                  LuFins Dad
                                  wrote on last edited by
                                  #42

                                  Just reached my first $1.00… 1% in 6 hours….

                                  The Brad

                                  CopperC LuFins DadL 2 Replies Last reply
                                  • Doctor PhibesD Doctor Phibes

                                    Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.

                                    George KG Offline
                                    George KG Offline
                                    George K
                                    wrote on last edited by
                                    #43

                                    @doctor-phibes said in The Bitcoin/Crypto Thread:

                                    Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.

                                    Exactly.

                                    What the actual hell are you guys talking about?

                                    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                    Doctor PhibesD 1 Reply Last reply
                                    • George KG George K

                                      @doctor-phibes said in The Bitcoin/Crypto Thread:

                                      Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.

                                      Exactly.

                                      What the actual hell are you guys talking about?

                                      Doctor PhibesD Offline
                                      Doctor PhibesD Offline
                                      Doctor Phibes
                                      wrote on last edited by
                                      #44

                                      @george-k said in The Bitcoin/Crypto Thread:

                                      @doctor-phibes said in The Bitcoin/Crypto Thread:

                                      Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.

                                      Exactly.

                                      What the actual hell are you guys talking about?

                                      I’m not totally convinced they know, either

                                      I was only joking

                                      Aqua LetiferA 1 Reply Last reply
                                      • LuFins DadL LuFins Dad

                                        Just reached my first $1.00… 1% in 6 hours….

                                        CopperC Offline
                                        CopperC Offline
                                        Copper
                                        wrote on last edited by
                                        #45

                                        @lufins-dad said in The Bitcoin/Crypto Thread:

                                        Just reached my first $1.00… 1% in 6 hours

                                        That's 4% per day.

                                        28% per week

                                        Nice

                                        1 Reply Last reply
                                        • LuFins DadL LuFins Dad

                                          @mark said in The Bitcoin/Crypto Thread:

                                          @lufins-dad said in The Bitcoin/Crypto Thread:

                                          Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…

                                          What made you select Solana?

                                          It’s probably Ethereum’s biggest competitor and can handle more transactions than Ethereum. It’s been listed in many of the top 10 lists and has shown pretty consistent growth. This is going to be a trial run for me, so I wanted a currency that would have a little bit of volatility but should at least maintain a pretty safe return. I actually got it somewhat on the cheap today, but it’s still dropped since then, lol. Ethereum is having a good day!

                                          markM Offline
                                          markM Offline
                                          mark
                                          wrote on last edited by
                                          #46

                                          @lufins-dad said in The Bitcoin/Crypto Thread:

                                          @mark said in The Bitcoin/Crypto Thread:

                                          @lufins-dad said in The Bitcoin/Crypto Thread:

                                          Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…

                                          What made you select Solana?

                                          It’s probably Ethereum’s biggest competitor and can handle more transactions than Ethereum. It’s been listed in many of the top 10 lists and has shown pretty consistent growth. This is going to be a trial run for me, so I wanted a currency that would have a little bit of volatility but should at least maintain a pretty safe return. I actually got it somewhat on the cheap today, but it’s still dropped since then, lol. Ethereum is having a good day!

                                          Just bought a little Solana. I am limiting my purchases by not linking any payment methods that permit large transactions. We will see where these little gambles go for a while.

                                          LuFins DadL 1 Reply Last reply
                                          Reply
                                          • Reply as topic
                                          Log in to reply
                                          • Oldest to Newest
                                          • Newest to Oldest
                                          • Most Votes


                                          • Login

                                          • Don't have an account? Register

                                          • Login or register to search.
                                          • First post
                                            Last post
                                          0
                                          • Categories
                                          • Recent
                                          • Tags
                                          • Popular
                                          • Users
                                          • Groups