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re: Crypto for Beginners: Guide to Start
Posted on 2/23/21 at 7:03 pm to rocket31
Posted on 2/23/21 at 7:03 pm to rocket31
Who knows what the can effectively do (or be willing to do)? I’m just suggesting, I wouldn’t be too complacent in their abilities (or perceived inabilities) to come after ANYTHING. I’m certainly not, from what I’m seeing so far. Maybe crypto is the ideal shelter from it, but who the frick knows with these scoundrels?
1
Posted on 2/23/21 at 7:06 pm to Y.A. Tittle
There legitimately is no way to stop people from trading crypto peer to peer without taking out the entire internet. There isn’t anything you can forcefully seize if someone has pulled funds into a cold wallet and you can’t really prove anyone is currently in ownership of a crypto.
Attempting a ban very well make the value of BTC go up. And we will be able to keep up with that valuation because I’m guessing exchanges will still be operating abroad.
Attempting a ban very well make the value of BTC go up. And we will be able to keep up with that valuation because I’m guessing exchanges will still be operating abroad.
Posted on 2/23/21 at 7:07 pm to rocket31
quote:
im not sure what youre getting at, they cant exactly ban bitcoin sooo
Let's say they were to try, wouldn't they take aim at the exchanges first? Wouldn't this crush the market, at least for awhile?
Posted on 2/23/21 at 7:09 pm to Vols&Shaft83
quote:
Let's say they were to try, wouldn't they take aim at the exchanges first?
Probably. I don’t see how the exchanges can’t see this legislation coming a mile away and prepare servers hosted abroad though.
Posted on 2/23/21 at 7:12 pm to Vols&Shaft83
quote:
Wouldn't this crush the market, at least for awhile?
probably yeah, it would likely cause panic
but with coinbase getting ready to IPO, this doesnt seem like a possible scenario
Posted on 2/23/21 at 7:30 pm to Ross
quote:
There legitimately is no way to stop people from trading crypto peer to peer without taking out the entire internet. There isn’t anything you can forcefully seize if someone has pulled funds into a cold wallet and you can’t really prove anyone is currently in ownership of a crypto.
I didn’t say anything about stopping trading. I just wouldn’t discount these people’s abilities to get their hands on any assets. If you can’t read the tea leaves of what Yellen is signaling., you should probably pay better attention.
Posted on 2/23/21 at 7:34 pm to Y.A. Tittle
I just don’t see how you can seize assets unless you are able to crack SHA256 cryptographic hash functions and if those are able to be cracked the entire idea of security online is pretty much dead already
Your assets only exist as the sum of all your transactions on the distributed ledger so there’s nothing for them to seize physically, obviously. They can’t initiate a transaction on your behalf without your private key (which is up to you to securely hide) or being able to crack SHA256 using something other than brute force which has never been done before
Your assets only exist as the sum of all your transactions on the distributed ledger so there’s nothing for them to seize physically, obviously. They can’t initiate a transaction on your behalf without your private key (which is up to you to securely hide) or being able to crack SHA256 using something other than brute force which has never been done before
This post was edited on 2/23/21 at 7:57 pm
Posted on 2/23/21 at 7:37 pm to Ross
Hey, I hope you’ve found the perfect shelter. Time will tell, I guess.
Posted on 2/23/21 at 7:38 pm to Y.A. Tittle
quote:
If you can’t read the tea leaves of what Yellen is signaling., you should probably pay better attention.
this is where the Yellen ignorance part comes into play she doesnt get it
Posted on 2/23/21 at 7:48 pm to Y.A. Tittle
I’m more concerned about which crypto wins the war for medium of exchange, if any. Fiat might always have a place in that regard.
But as an asset class that allows people a hedge against bad fiscal policy? You just cannot beat crypto IMO. BTC is like digital gold and it’s one of the most clever ideas I’ve seen out of the human race in my lifetime, in part because the government really has no manner of practical recourse to fight against it.
This is what WikiTiger was saying years and years ago and I hate myself for being too blind to see it.
But as an asset class that allows people a hedge against bad fiscal policy? You just cannot beat crypto IMO. BTC is like digital gold and it’s one of the most clever ideas I’ve seen out of the human race in my lifetime, in part because the government really has no manner of practical recourse to fight against it.
This is what WikiTiger was saying years and years ago and I hate myself for being too blind to see it.
This post was edited on 2/23/21 at 7:52 pm
Posted on 2/23/21 at 8:19 pm to Ross
i really think the fed will move forward with their crypto FedCoin and offer incentives for businesses to use the government backed crypto versus Bitcoin
they can't stop bitcoin so they will just dissuade folks from embracing it
they can't stop bitcoin so they will just dissuade folks from embracing it
Posted on 2/23/21 at 8:44 pm to Ross
youll see more and more push back from envious people as bitcoin continues to rise - theyll transition from telling us that the govt will ban it to demanding that they do.
i already see this with the mask-wearing, pronoun people on twitter. youll be shamed for owning it soon enough, just watch
i already see this with the mask-wearing, pronoun people on twitter. youll be shamed for owning it soon enough, just watch
Posted on 2/23/21 at 9:05 pm to Ross
Posting this because it is a worthwhile read for crypto newbs and vets alike as well as relevant to the current discussion on the mythical Fedcoin. It is a long read and I'll offer no tl;dr nor quoted highlights. Take it or leave it.
Lots of interesting info though for those interested in the properties of cryptocurrencies and what the FED might be thinking about should they choose to develop a digital dollar.
Fedcoin: A Central Bank issued Cryptocurrency
Lots of interesting info though for those interested in the properties of cryptocurrencies and what the FED might be thinking about should they choose to develop a digital dollar.
Fedcoin: A Central Bank issued Cryptocurrency
Posted on 2/23/21 at 9:05 pm to Ross
quote:Anything they do that shows Bitcoin as a threat legitimizes it...and since it cannot be banned, it grows in popularity. Every country that has made owning bitcoin illegal has seen bitcoin usage within that country skyrocket
I’m pretty convinced they will try, but will fail horribly
Posted on 2/24/21 at 6:38 am to TigerTatorTots
Since nobody else has brought it up yet, I wanted to take the opportunity to mention the Fold App.
Sign up and get 5000 Free Satoshis (smallest unit of Bitcoin). Earn more free Sats from shopping or spinning the wheel daily. I currently have earned over 50K sats just from spinning the wheel, haven't made a single purchase. It's free money.
The only thing I get out of this is I move up on the waitlist for the Fold card WANT
Sign up and get 5000 Free Satoshis (smallest unit of Bitcoin). Earn more free Sats from shopping or spinning the wheel daily. I currently have earned over 50K sats just from spinning the wheel, haven't made a single purchase. It's free money.
The only thing I get out of this is I move up on the waitlist for the Fold card WANT
Posted on 2/24/21 at 7:22 am to Vols&Shaft83
Love the Fold App and card. I’m up to 200,000 sats back averaging about 3.5% rewards on my purchases
Posted on 2/24/21 at 7:24 am to Vols&Shaft83
Interesting... joining the waitlist. Thanks
This post was edited on 2/24/21 at 7:25 am
Posted on 3/11/21 at 10:27 pm to tduecen
So what am I missing, is there any downside to using Celsius?
Also if not Celsius what is a good, simpler wallet to use?
Tia
Also if not Celsius what is a good, simpler wallet to use?
Tia
Posted on 5/13/21 at 9:09 am to Douglas Quaid
quote:
The hardcore BTC maximalists won't like it but as ESG becomes more of a focus in investing philosophy the energy usage of BTC and POW coins will come under scrutiny. A good read on this is this recent article:
BTC an ESG nightmare
I don't have a strong opinion on it right now but investors in BTC coming in now should at least be aware of the landscape.
low hanging fruit.
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