- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: If you are confused about the utility of Bitcoin, I want to share this with you.
Posted on 3/7/22 at 5:14 pm to AMS
Posted on 3/7/22 at 5:14 pm to AMS
Cold storage is imperative for avoiding confiscation and restrictions in peer to peer transfer, but the ability to run a node and interact directly with the network is also imperative.
I use Ledger, and it’s entirely possible their software (Ledger Live) becomes compromised in some way and tries to restrict transactions. Well, I have the private key and the ability to run a node means I don’t need anyone’s permission to interact with the network.
From what I understand, running an Ethereum node is much more difficult than a Bitcoin node so naturally you are a little more at the whims of software devs. Even so, just choose a different wallet.
I use Ledger, and it’s entirely possible their software (Ledger Live) becomes compromised in some way and tries to restrict transactions. Well, I have the private key and the ability to run a node means I don’t need anyone’s permission to interact with the network.
From what I understand, running an Ethereum node is much more difficult than a Bitcoin node so naturally you are a little more at the whims of software devs. Even so, just choose a different wallet.
0
Posted on 3/7/22 at 5:30 pm to Longhorn Lifer
quote:
Gambling on Berkshire Hathaway vs investing in Bitcoin
You aren’t even being consistent in your arguments. Just say you don’t like bitcoin because you just don’t. That would make more sense. It’s beginning to sound like you wouldn’t be able to handle the volatility of crypto…that’s fine but just be honest with yourself.
Posted on 3/7/22 at 5:55 pm to DeathValley85
quote:
Just say you don’t like bitcoin because you just don’t
Go back to your crypto echo chamber.
You can all hold hands and tell each other how smart you are by losing 40 percent over the last few months.
Bitcoin Bros act like if people don't invest in crypto that it's because they don't get it.
Bitcoin isn't complicated.
People get it, they just choose to invest elsewhere.
It's just weird how Bitcoin Bros worship their Bitcoin no matter how much it drops.
Bitcoin could drop 99 percent and the Bitcoin Bros would be defending the honor of their Bitcoin.
This post was edited on 3/7/22 at 6:03 pm
Posted on 3/7/22 at 6:27 pm to Longhorn Lifer
quote:If you actually believe in the future of Bitcoin, I can promise you this 40 percent drop is nothing. Most people in this thread even said they are holding long term, so why dont you tell me how much bitcoin has gone up long term?
You can all hold hands and tell each other how smart you are by losing 40 percent over the last few months.
Posted on 3/7/22 at 6:31 pm to Ross
quote:
[quote]frankly, once you know how the technology works and it’s value proposition; you don’t care what the ignorant masses think, you tend to admire the technology, the elegant engineering and game theory behind it, and what the network can do for humanity.
The adoption curve is trending positive, and as long as that remains true the value will come; and at present BTC presents an asymmetric upside compared to most other traditional investment vehicles and I’ll personally continue to dollar cost average into it in perpetuity.
quote:
frankly, once you know how the technology works and its value proposition; you don’t care what those who clearly haven’t done ten minutes of actual research into how the network functions think about the network or it’s intrinsic value. You tend to admire the technology, the elegant engineering and game theory behind it, and forecast what the network can do for humanity.
The adoption curve is trending positive, and as long as that remains true the value will come; and at present BTC presents an asymmetric upside compared to most other traditional investment vehicles and I’ll personally continue to dollar cost average into it in perpetuity.
Ross did a little clean up on his original post.
So if you don't invest in Bitcoin and lose 25 percent YTD then you are just part of the ignorant masses that don't get it.
My MRO that I bought 2 years ago is up 400 percent.
Why didn't you buy MRO? Don't you get it?
Posted on 3/7/22 at 6:35 pm to Longhorn Lifer
the meaning of the post didn’t change so I’m not sure what you are trying to say
you are coming across as extremely petty IMO
ETA: As said before and ignored by you because you have selective hearing apparently: I’m a long term bull on the technology. I believe it will continue to be adopted by people looking for a nonsovereign scarce asset that are difficult to seize and can be sent quickly over decentralized rails that are near impossible to shut down. I am not a trader in this asset nor am I a speculator as to the daily or even yearly price fluctuations. I simply believe one decade from now the value will be much higher than its present value. You aren’t interested in discussing the technology past saying that you “get it” and apparently aren’t an investor in anything. You are a trader; so even in the best case where you weren’t in this thread to be a troll, we don’t have the same time horizons and we don’t look at the same things when spending money; so I’m not sure what you even want me to say to you.
Good luck timing the market, and I’ll keep on stacking sats
you are coming across as extremely petty IMO
ETA: As said before and ignored by you because you have selective hearing apparently: I’m a long term bull on the technology. I believe it will continue to be adopted by people looking for a nonsovereign scarce asset that are difficult to seize and can be sent quickly over decentralized rails that are near impossible to shut down. I am not a trader in this asset nor am I a speculator as to the daily or even yearly price fluctuations. I simply believe one decade from now the value will be much higher than its present value. You aren’t interested in discussing the technology past saying that you “get it” and apparently aren’t an investor in anything. You are a trader; so even in the best case where you weren’t in this thread to be a troll, we don’t have the same time horizons and we don’t look at the same things when spending money; so I’m not sure what you even want me to say to you.
Good luck timing the market, and I’ll keep on stacking sats
This post was edited on 3/7/22 at 7:07 pm
Posted on 3/7/22 at 6:39 pm to Ross
quote:
the meaning of the post didn’t change so I’m not sure what you are trying to say
ignorant masses
Posted on 3/7/22 at 6:44 pm to Longhorn Lifer
it isn’t controversial at all to say the vast majority of people have no idea how Nakamoto consensus works and I actually don’t care what those people think about the security of the network or its intrinsic value
do you actually have something you want to accomplish with this conversation?
do you actually have something you want to accomplish with this conversation?
Posted on 3/7/22 at 6:52 pm to Longhorn Lifer
We get it bro, you are the master trader. You can time every top and every bottom to maximize your gains. You consistently beat all of the big time hedge funds with your timing of the market, we understand. Sorry most of us aren't as good and go with the buy/hold route when we believe an investment has more long term potential than trying to trade short term swings.
Posted on 3/7/22 at 7:02 pm to Longhorn Lifer
quote:
Ross did a little clean up on his original post.
So if you don't invest in Bitcoin and lose 25 percent YTD then you are just part of the ignorant masses that don't get it.
My MRO that I bought 2 years ago is up 400 percent.
Why didn't you buy MRO? Don't you get it?
if you bought btc 2 years ago you would be up 4x today even after a 25% YTD haircut. somehow the same 2 year growth makes you an ignorant masses BTC cult kool-aid drinker, but you are braggy about your MRO. your entire argument is trash because it entirely depends on selecting timeframes arbitrarily and if the timeframe is shifted completely reverses your argument.
for example: if you bought btc/MRO 3 years ago you would be up 10x in BTC, while your MRO would be a paltry 30% gain. youd have missed out on 970% return by chosing MRO over BTC.
why didn't you buy BTC? Don't you get it?
Posted on 3/7/22 at 7:12 pm to theRealJesseD
quote:
Decentralization sure doesn't mean what you think it means if you dont think the MetaMask fiasco is a big deal
I'll put it like this, people who use and understand BTC, ETH, etc DO NOT KEEP THEIR FUNDS in these wallets in any significant amount.
These people, like me, keep enough for gas and move funds in/out based on what they are doing.
Why? Because we understand the technology and the risks of a browser wallet....
quote:
You are sticking you head in the sand if you are brushing this off as a nothing burger. Go Bitcoin! Rah rah
Its not for people like me. I protected my self from "what if" scenarios just like this.
Posted on 3/7/22 at 7:25 pm to theRealJesseD
quote:
Decentralization sure doesn't mean what you think it means if you dont think the MetaMask fiasco is a big deal. Any idiot knows its an Ethereum wallet. But it could never happen to any other wallet right?
Depends on the wallet and the RPC provider. Metamask, by default, uses Infura, which is definitely NOT decentralized. There are a couple of decentralized RPCs, like Pokt Network.
Use an open-source, open license wallet, connect via Pokt Network, and you are no longer vulnerable to the centralization of Infura, Alchemy, etc.
Unfortunately, centralized forces came in hard during this last bull run. A bear market is a great time to shake a lot of it out
This post was edited on 3/7/22 at 7:26 pm
Posted on 3/7/22 at 7:29 pm to AMS
quote:
if you bought btc 2 years ago you would be up 4x today even after a 25% YTD haircut. somehow the same 2 year growth makes you an ignorant masses BTC cult kool-aid drinker, but you are braggy about your MRO. your entire argument is trash because it entirely depends on selecting timeframes arbitrarily and if the timeframe is shifted completely reverses your argument.
for example: if you bought btc/MRO 3 years ago you would be up 10x in BTC, while your MRO would be a paltry 30% gain. youd have missed out on 970% return by chosing MRO over BTC.
why didn't you buy BTC? Don't you get it?
You're an idiot.
I bought MRO 2 years ago,up 400 percent.
Why are you using examples of MRO vs Bitcoin 3 years ago?
You're an idiot.
You're getting killed while I am making bank.
Posted on 3/7/22 at 7:29 pm to TigerTatorTots
this dude is clearly just clowning around trying to get a rise out of people because he’s being very selective in what he actually responds to and very childish when he does respond, but you do have to love when people pop in during a bear market acting like they are the gods of day trading. This dude and people like Ancient Tiger really give off the same vibe.
You know full well most of them have portfolios in the red and just want to spout off about the one stock they got right to act like Gordon Gecko in front of their internet friends.
You know full well most of them have portfolios in the red and just want to spout off about the one stock they got right to act like Gordon Gecko in front of their internet friends.
Posted on 3/7/22 at 7:30 pm to Longhorn Lifer
quote:
You're getting killed while I am making bank.
Prove it
Posted on 3/7/22 at 7:35 pm to Ross
quote:
this dude is clearly just clowning around trying to get a rise out of people because he’s being very selective in what he actually responds to and very childish when he does respond, but you do have to love when people pop in during a bear market acting like they are the gods of day trading. This dude and people like Ancient Tiger really give off the same vibe
yea in addition to the troll type posting selectivity, his account was created sometime in the past 7 days. just screams alter troll.
Posted on 3/8/22 at 11:52 am to Longhorn Lifer
Hey buddy MRO just had a 5% drawdown day over day, I know you are the worlds best trader so I know you already rotated out cause you aren’t in the business of losing money. Be sure to drop in with your stock picks of the day.
Posted on 3/9/22 at 8:17 am to theRealJesseD
quote:
rouse
What do groceries have to do with this?
Posted on 3/9/22 at 11:56 am to tigerpawl
quote:
This is a great primer for BTC. Tucker Carlson Interviews Michael Saylor
Very interesting interview and very compelling. I like his presentation and agree with him for the most part. Took some huge balls to rotate his company's capital into BTC and it definitely paid off (i.e. timing)
However, it seems that the one thing that he didn't address is that BTC's value and more importantly INCREASE in value is based solely on more and more people adopting and purchasing BTC. To me, this isn't a store of value....its more like a collectible. Something with no intrinsic utility that's value is based on the desire of other people to own it.
If BTC was negatively correlated to the US Dollar or something similar then it would be more compelling. Fact is, BTC could lose 50% of it's value in a week should some compelling reason arise to sell your positions fast...which would have nothing to do with the energy put into producing, it's scarcity, the value of a dollar, etc.
This post was edited on 3/9/22 at 12:02 pm
Posted on 3/9/22 at 2:46 pm to SquatchDawg
quote:
However, it seems that the one thing that he didn't address is that BTC's value and more importantly INCREASE in value is based solely on more and more people adopting and purchasing BTC
Saylor certainly has addressed this and everything only has value the more people place value" in it.
Name something that goes up in value with absolutely no one buying or owning it?
Long term, BTC has an underlying value people will either place value in or not.
This post was edited on 3/9/22 at 2:51 pm
Page 4 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News