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Started By
Message
re: Official CryptoTalk Thread
Posted on 5/13/21 at 7:34 am to JayDeerTay84
Posted on 5/13/21 at 7:34 am to JayDeerTay84
quote:
BTC isnt a security and never will be.
No; but it is a part of Tesla’s treasury reserve and Tesla being a public company whose share price is impacted by Elon’s statements on this asset might not be super cool?
Who the hell knows
0
Posted on 5/13/21 at 7:35 am to SlowFlowPro
Best I can come up with was Elon was taking advantage of a frothy market by pumping BTC and DOGE to bring in more $$$ to the market and further legitimize crypto as an asset while knowing that eventually he'd have to be honest about "the tech" and when that happened the new money would flow into projects with better tech.
Posted on 5/13/21 at 7:36 am to Douglas Quaid
quote:
Best I can come up with was Elon was taking advantage of a frothy market by pumping BTC and DOGE to bring in more $$$ to the market and further legitimize crypto as an asset while knowing that eventually he'd have to be honest about "the tech" and when that happened the new money would flow into projects with better tech.
He isn't being honest though...
Posted on 5/13/21 at 7:36 am to Ross
quote:
Unless your Cardano apparently.
Been throwing ADA a few bones every week. Now if we can just get a measly 2000% more growth and I'm golden. 
Posted on 5/13/21 at 7:37 am to JayDeerTay84
quote:
Well, you wont earn 12% on BTC. More like 6%.
The catch is liquidity of these platforms. They are loaning/using the BTC you have there and can lose it. That is the risk...
Oh so they use your BTC to buy/sell? So if you go to withdraw they may not have it?
Posted on 5/13/21 at 7:37 am to BottomlandBrew
quote:
Been throwing ADA a few bones every week. Now if we can just get a measly 2000% more growth and I'm golden.
Eh. I was just hoping to see $7-$8 this cycle...
Posted on 5/13/21 at 7:38 am to Tiger1242
quote:
Oh so they use your BTC to buy/sell? So if you go to withdraw they may not have it?
As long as they are stable you should be fine. I am saying that if you had a worst case scenario and everyone pulled out of their app, someone is going to lose and it could be you. Or, they could be hacked etc.
Edit, in theory its no different than a bank loaning out your money. They are just FDIC insured. These apps have insurance, but its not exactly like the FDIC insurance.
This post was edited on 5/13/21 at 7:40 am
Posted on 5/13/21 at 7:39 am to BottomlandBrew
Dot holding steady too. Wonder if bitcoin holders diversified to those or not.
Posted on 5/13/21 at 7:43 am to JayDeerTay84
I was going to be impressed with $2-$3 this cycle. It'll be interesting to see where it goes this summer.
Posted on 5/13/21 at 7:44 am to BottomlandBrew
quote:
I was going to be impressed with $2-$3 this cycle. It'll be interesting to see where it goes this summer.
Yea we will see. I buy some every week regardless and based on my plan, I would start taking some profits at $7. If we dont hit $7 this year then I aint selling haha.
Posted on 5/13/21 at 7:44 am to BottomlandBrew
Posted on 5/13/21 at 7:48 am to Douglas Quaid
quote:
projects with better tech
I kind of object to the implication that PoS is better technology than PoW. It’s a different system that is arguably more prone to centralization but saves a lot on energy.
It’s a different cost/benefit structure
Posted on 5/13/21 at 7:53 am to JayDeerTay84
quote:
in theory its no different than a bank loaning out your money. They are just FDIC insured. These apps have insurance, but its not exactly like the FDIC insurance.
That was going to be my next question. So it’s essentially the same thing as a bank using your savings account to lend/trade. If everyone went to the back tomorrow to withdraw they wouldn’t have the liquid cash.
The difference is that’s actually a possibility in crypto and they aren’t FDIC insured
Posted on 5/13/21 at 7:54 am to Ross
It isn’t better tech. Anyone that thinks PoS is better is not concerned about security or cares about decentralization.
Posted on 5/13/21 at 7:57 am to Tiger1242
Sorry a few more staking questions.
- Is there a fee to stake your coins?
- why do you all seem to think Celsius is the best place to stake?
- can you purchase more coins with your Celcius account to add to your staked coins?
- is there a time limit you are required to stake or can you remove your coins at anytime?
- can you withdraw some of your staked coins and leave the rest in?
- last one, do they pay your % in the coin you stake or in money?
- Is there a fee to stake your coins?
- why do you all seem to think Celsius is the best place to stake?
- can you purchase more coins with your Celcius account to add to your staked coins?
- is there a time limit you are required to stake or can you remove your coins at anytime?
- can you withdraw some of your staked coins and leave the rest in?
- last one, do they pay your % in the coin you stake or in money?
This post was edited on 5/13/21 at 8:06 am
Posted on 5/13/21 at 8:02 am to Tiger1242
I just bought my first ADA this morning. I mostly have BTC with a little bit of ETH/XRP/XLM.
Posted on 5/13/21 at 8:08 am to Yellerhammer5
HEX
This post was edited on 5/13/21 at 8:12 am
Posted on 5/13/21 at 8:18 am to TigerTatorTots
quote:
It isn’t better tech. Anyone that thinks PoS is better is not concerned about security or cares about decentralization.
Posted on 5/13/21 at 8:25 am to jimbeam
It would be one thing if BTC was consuming all this carbon intensive electricity, but it isn't. It is ~75% run on renewables.
Take all the power produced in the world. Roughly 30% of that power is wasted before it can be put to use. The total bitcoin power usage on the entire network is 0.25% of the amount of power in the world that is completely wasted. If people are that concerned with Bitcoin's energy usage, why don't they focus their energy on actual improving the amount of power that is wasted first and not bitch about a network that incentivizes and uses majority renewables.
Take all the power produced in the world. Roughly 30% of that power is wasted before it can be put to use. The total bitcoin power usage on the entire network is 0.25% of the amount of power in the world that is completely wasted. If people are that concerned with Bitcoin's energy usage, why don't they focus their energy on actual improving the amount of power that is wasted first and not bitch about a network that incentivizes and uses majority renewables.
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