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The New Coffee Room

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  3. The Bitcoin/Crypto Thread

The Bitcoin/Crypto Thread

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  • LuFins DadL LuFins Dad

    Yeah, but at some point you do need to see some regulatory policies come into play. You can’t have Shiba Inu types of stunts occurring all of the time.

    89th8 Offline
    89th8 Offline
    89th
    wrote on last edited by
    #56

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

    You can’t have Shiba Inu types of stunts occurring all of the time.

    Woah woah woah.... let it get to the moon (or at least $1) before you kill that coin. That's my ticket to early retirement. I have 4 million coins! Yes, I like saying that.

    LuFins DadL markM 2 Replies Last reply
    • 89th8 89th

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

      You can’t have Shiba Inu types of stunts occurring all of the time.

      Woah woah woah.... let it get to the moon (or at least $1) before you kill that coin. That's my ticket to early retirement. I have 4 million coins! Yes, I like saying that.

      LuFins DadL Offline
      LuFins DadL Offline
      LuFins Dad
      wrote on last edited by
      #57

      @89th said in The Bitcoin/Crypto Thread:

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

      You can’t have Shiba Inu types of stunts occurring all of the time.

      Woah woah woah.... let it get to the moon (or at least $1) before you kill that coin. That's my ticket to early retirement. I have 4 million coins! Yes, I like saying that.

      When did you buy?

      The Brad

      89th8 1 Reply Last reply
      • LuFins DadL LuFins Dad

        @89th said in The Bitcoin/Crypto Thread:

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

        You can’t have Shiba Inu types of stunts occurring all of the time.

        Woah woah woah.... let it get to the moon (or at least $1) before you kill that coin. That's my ticket to early retirement. I have 4 million coins! Yes, I like saying that.

        When did you buy?

        89th8 Offline
        89th8 Offline
        89th
        wrote on last edited by
        #58

        @lufins-dad Oh like back in May after the first spike. I think I bought $200 worth and now have $300 worth. It's stupid, but figured it would be fun to get lucky with a viral meme coin.

        1 Reply Last reply
        • LuFins DadL Offline
          LuFins DadL Offline
          LuFins Dad
          wrote on last edited by
          #59

          I was planning on adding some of my weekly spending cash every week, just trying to figure out whether I want to keep putting it into SOL or diversify…

          The Brad

          89th8 1 Reply Last reply
          • 89th8 89th

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

            You can’t have Shiba Inu types of stunts occurring all of the time.

            Woah woah woah.... let it get to the moon (or at least $1) before you kill that coin. That's my ticket to early retirement. I have 4 million coins! Yes, I like saying that.

            markM Offline
            markM Offline
            mark
            wrote on last edited by
            #60

            @89th said in The Bitcoin/Crypto Thread:

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

            You can’t have Shiba Inu types of stunts occurring all of the time.

            Woah woah woah.... let it get to the moon (or at least $1) before you kill that coin. That's my ticket to early retirement. I have 4 million coins! Yes, I like saying that.

            I plan on buying some Shiba Inu next week when my limit is reset. lol

            1 Reply Last reply
            • LuFins DadL LuFins Dad

              I was planning on adding some of my weekly spending cash every week, just trying to figure out whether I want to keep putting it into SOL or diversify…

              89th8 Offline
              89th8 Offline
              89th
              wrote on last edited by
              #61

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

              I was planning on adding some of my weekly spending cash every week, just trying to figure out whether I want to keep putting it into SOL or diversify…

              I would suggest throwing cash on the brand new coins and trying to catch one that does a massive spike. Otherwise SOL and ETH and most of the top-10 coins will give you modest % gains. But if you're looking for the rare 100x or even 10,000x return...

              KlausK 1 Reply Last reply
              • 89th8 89th

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

                I was planning on adding some of my weekly spending cash every week, just trying to figure out whether I want to keep putting it into SOL or diversify…

                I would suggest throwing cash on the brand new coins and trying to catch one that does a massive spike. Otherwise SOL and ETH and most of the top-10 coins will give you modest % gains. But if you're looking for the rare 100x or even 10,000x return...

                KlausK Online
                KlausK Online
                Klaus
                wrote on last edited by
                #62

                @89th Why should the small values do well in the long term? I can see that possibility when they are technologically superior to ETH etc., but if it's just yet another coin, then the bigger ones will prevail.

                89th8 1 Reply Last reply
                • KlausK Klaus

                  @89th Why should the small values do well in the long term? I can see that possibility when they are technologically superior to ETH etc., but if it's just yet another coin, then the bigger ones will prevail.

                  89th8 Offline
                  89th8 Offline
                  89th
                  wrote on last edited by
                  #63

                  @klaus said in The Bitcoin/Crypto Thread:

                  @89th Why should the small values do well in the long term? I can see that possibility when they are technologically superior to ETH etc., but if it's just yet another coin, then the bigger ones will prevail.

                  Oh just from a pure meme spike perspective. Folks want to replicate the DOGE scenario, so the question is which is the next smaller coin to launch into space?

                  1 Reply Last reply
                  • Doctor PhibesD Offline
                    Doctor PhibesD Offline
                    Doctor Phibes
                    wrote on last edited by
                    #64

                    There's far too much FUD about the HODL. You need to consider your SATS, Pump and Dump the WHALE, and generally Moon your Bagholders until they can't take any more.

                    Clear?

                    I was only joking

                    KlausK 1 Reply Last reply
                    • Doctor PhibesD Doctor Phibes

                      There's far too much FUD about the HODL. You need to consider your SATS, Pump and Dump the WHALE, and generally Moon your Bagholders until they can't take any more.

                      Clear?

                      KlausK Online
                      KlausK Online
                      Klaus
                      wrote on last edited by
                      #65

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

                      There's far too much FUD about the HODL. You need to consider your SATS, Pump and Dump the WHALE, and generally Moon your Bagholders until they can't take any more.

                      Clear?

                      You are a clear case of FOMA.

                      1 Reply Last reply
                      • LuFins DadL Offline
                        LuFins DadL Offline
                        LuFins Dad
                        wrote on last edited by
                        #66

                        I just put all my money on LGB

                        02967F93-44BD-4821-A58D-7369B8B8E984.png

                        The Brad

                        1 Reply Last reply
                        • X Offline
                          X Offline
                          xenon
                          wrote on last edited by xenon
                          #67

                          I can understand the appeal of crypto in general - I don’t get the value of Bitcoin, specifically.

                          Without being used for real transactions on any sort of scale, it already uses as much electricity as Argentina.

                          There’s no path to make it (Bitcoin) substantially more efficient.

                          I just don’t get it at all. I’m probably missing something.

                          KlausK taiwan_girlT 2 Replies Last reply
                          • KlausK Klaus

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

                            I have thought about going in with Luke to set up some mining from his dorm… Free electricity…

                            Forget about it. These days, you need special very sophisticated hardware ("Bitcoin ASIC", something like this) for mining. Even a $5K GPU doesn't cut it anymore these days. And even then you need to participate in "mining pools" to ever mine anything.

                            JoeBJ Offline
                            JoeBJ Offline
                            JoeB
                            wrote on last edited by
                            #68

                            @klaus said in The Bitcoin/Crypto Thread:

                            Forget about it. These days, you need special very sophisticated hardware ("Bitcoin ASIC", something like this) for mining. Even a $5K GPU doesn't cut it anymore these days. And even then you need to participate in "mining pools" to ever mine anything.

                            I started mining almost 2 weeks ago using my AMD Radeon 5800 video card. I've gotten over $50 so far and paid less than $15 for electricity. It's winter now so dumping a couple hundred watts into the house helps keep it warm, so even the cost of power isn't a waste. I use nicehash.com to sell the hash power.

                            "There are many ingredients in the stew of annoyance." - Bucky Katt

                            KlausK 1 Reply Last reply
                            • X xenon

                              I can understand the appeal of crypto in general - I don’t get the value of Bitcoin, specifically.

                              Without being used for real transactions on any sort of scale, it already uses as much electricity as Argentina.

                              There’s no path to make it (Bitcoin) substantially more efficient.

                              I just don’t get it at all. I’m probably missing something.

                              KlausK Online
                              KlausK Online
                              Klaus
                              wrote on last edited by
                              #69

                              @xenon said in The Bitcoin/Crypto Thread:

                              I can understand the appeal of crypto in general - I don’t get the value of Bitcoin, specifically.

                              Without being used for real transactions on any sort of scale, it already uses as much electricity as Argentina.

                              There’s no path to make it (Bitcoin) substantially more efficient.

                              I just don’t get it at all. I’m probably missing something.

                              There is a technical solution to the energy problem called "proof of stake". Some crypto coins use it already. The second largest one, Ethereum, plans to introduce it next year (although I understand that this date was delayed a few times already). I guess once that happens, Bitcoin is under so much pressure that the network will also agree to change to PoS.

                              You can trade all kinds of things, including US dollar (via so-called "stable coins") and probably soon stocks and securities.

                              The one thing I don't get at all is "crypto art" NFTs. This looks like a scam to me.

                              X 1 Reply Last reply
                              • JoeBJ JoeB

                                @klaus said in The Bitcoin/Crypto Thread:

                                Forget about it. These days, you need special very sophisticated hardware ("Bitcoin ASIC", something like this) for mining. Even a $5K GPU doesn't cut it anymore these days. And even then you need to participate in "mining pools" to ever mine anything.

                                I started mining almost 2 weeks ago using my AMD Radeon 5800 video card. I've gotten over $50 so far and paid less than $15 for electricity. It's winter now so dumping a couple hundred watts into the house helps keep it warm, so even the cost of power isn't a waste. I use nicehash.com to sell the hash power.

                                KlausK Online
                                KlausK Online
                                Klaus
                                wrote on last edited by
                                #70

                                @joeb said in The Bitcoin/Crypto Thread:

                                . I've gotten over $50 so far and paid less than $15 for electricity

                                Interesting. That's different from what I've read.

                                1 Reply Last reply
                                • KlausK Klaus

                                  @xenon said in The Bitcoin/Crypto Thread:

                                  I can understand the appeal of crypto in general - I don’t get the value of Bitcoin, specifically.

                                  Without being used for real transactions on any sort of scale, it already uses as much electricity as Argentina.

                                  There’s no path to make it (Bitcoin) substantially more efficient.

                                  I just don’t get it at all. I’m probably missing something.

                                  There is a technical solution to the energy problem called "proof of stake". Some crypto coins use it already. The second largest one, Ethereum, plans to introduce it next year (although I understand that this date was delayed a few times already). I guess once that happens, Bitcoin is under so much pressure that the network will also agree to change to PoS.

                                  You can trade all kinds of things, including US dollar (via so-called "stable coins") and probably soon stocks and securities.

                                  The one thing I don't get at all is "crypto art" NFTs. This looks like a scam to me.

                                  X Offline
                                  X Offline
                                  xenon
                                  wrote on last edited by
                                  #71

                                  @klaus said in The Bitcoin/Crypto Thread:

                                  @xenon said in The Bitcoin/Crypto Thread:

                                  I can understand the appeal of crypto in general - I don’t get the value of Bitcoin, specifically.

                                  Without being used for real transactions on any sort of scale, it already uses as much electricity as Argentina.

                                  There’s no path to make it (Bitcoin) substantially more efficient.

                                  I just don’t get it at all. I’m probably missing something.

                                  There is a technical solution to the energy problem called "proof of stake". Some crypto coins use it already. The second largest one, Ethereum, plans to introduce it next year (although I understand that this date was delayed a few times already). I guess once that happens, Bitcoin is under so much pressure that the network will also agree to change to PoS.

                                  You can trade all kinds of things, including US dollar (via so-called "stable coins") and probably soon stocks and securities.

                                  The one thing I don't get at all is "crypto art" NFTs. This looks like a scam to me.

                                  Proof of stake seems like a ground up change to the Bitcoin algorithm. Some currencies already implemented it.

                                  I don’t see how Bitcoin, very specifically, somehow cedes authority to a centralized proof of stake type architecture.

                                  I don’t see the long term value of Bitcoin - outside of being a proof of concept for crypto or becoming a commodity off of which other derivative assets are built.

                                  1 Reply Last reply
                                  • X xenon

                                    I can understand the appeal of crypto in general - I don’t get the value of Bitcoin, specifically.

                                    Without being used for real transactions on any sort of scale, it already uses as much electricity as Argentina.

                                    There’s no path to make it (Bitcoin) substantially more efficient.

                                    I just don’t get it at all. I’m probably missing something.

                                    taiwan_girlT Offline
                                    taiwan_girlT Offline
                                    taiwan_girl
                                    wrote on last edited by
                                    #72

                                    @xenon said in The Bitcoin/Crypto Thread:

                                    I can understand the appeal of crypto in general

                                    I dont see the appeal because I see it only being able to be used in very very very few areas.

                                    What is the appeal to you?

                                    X LuFins DadL 2 Replies Last reply
                                    • taiwan_girlT taiwan_girl

                                      @xenon said in The Bitcoin/Crypto Thread:

                                      I can understand the appeal of crypto in general

                                      I dont see the appeal because I see it only being able to be used in very very very few areas.

                                      What is the appeal to you?

                                      X Offline
                                      X Offline
                                      xenon
                                      wrote on last edited by
                                      #73

                                      @taiwan_girl said in The Bitcoin/Crypto Thread:

                                      @xenon said in The Bitcoin/Crypto Thread:

                                      I can understand the appeal of crypto in general

                                      I dont see the appeal because I see it only being able to be used in very very very few areas.

                                      What is the appeal to you?

                                      Next to none for me. I can see how some other people may value it:
                                      -People in underbanked countries with volatile currencies, inflation or capital controls
                                      -Remittances

                                      It requires a currency to be stable and low transaction cost to really fit the bill (which a crypto could - be none are really there).

                                      My issue is with Bitcoin, specifically. It’s built on obsolete tech right now. The way the power dynamics work, the 6 entities that control 95% of transactions right now would have to accede to a new technical model (e.g. proof of stake). Doesn’t seem like there’s any chance of that happening.

                                      A couple of years ago it was the “lightning network” that was supposed to save Bitcoin.

                                      1 Reply Last reply
                                      • LarryL Offline
                                        LarryL Offline
                                        Larry
                                        wrote on last edited by
                                        #74

                                        This bitcoin shit sounds like some sort of video game.

                                        1 Reply Last reply
                                        • taiwan_girlT taiwan_girl

                                          @xenon said in The Bitcoin/Crypto Thread:

                                          I can understand the appeal of crypto in general

                                          I dont see the appeal because I see it only being able to be used in very very very few areas.

                                          What is the appeal to you?

                                          LuFins DadL Offline
                                          LuFins DadL Offline
                                          LuFins Dad
                                          wrote on last edited by
                                          #75

                                          @taiwan_girl said in The Bitcoin/Crypto Thread:

                                          @xenon said in The Bitcoin/Crypto Thread:

                                          I can understand the appeal of crypto in general

                                          I dont see the appeal because I see it only being able to be used in very very very few areas.

                                          What is the appeal to you?

                                          1. MUCH better security on web transactions. I mean by a factor of 10. I am pretty sure that web transactions aren’t going anywhere. The chances of fraud are basically nil. These days we can’t even trust cashiers checks.

                                          2. There are tiny little cash transactions in the movement of data across the web. A byte of information costs .000000000000000000018 cents to move. Crypto is a much better tool for monitoring and paying these micro transactions that ultimately add up to trillions of dollars.

                                          3. Billions of dollars every day are being spent every day on those little video game purchases. Crypto is by far the best tool for handling those transactions.

                                          The Brad

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