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re: Official CryptoTalk Thread
Posted on 6/12/22 at 10:45 pm to Ross
Posted on 6/12/22 at 10:45 pm to Ross
Celsius = Mt Gox? I knew better and kinda thought Alex(CEO) was genuine.
O/U Celsius rug pull? All fund lost.
Does anyone remember how much they claimed to have? Assuming all 5000ish BTC and 10k Eth was the entire business...and it was a giant pyramid! About to be used by FTX to short crypto. Wait till microstrategy dumps. Whp is rebuying at 15k BTC?
O/U Celsius rug pull? All fund lost.
Does anyone remember how much they claimed to have? Assuming all 5000ish BTC and 10k Eth was the entire business...and it was a giant pyramid! About to be used by FTX to short crypto. Wait till microstrategy dumps. Whp is rebuying at 15k BTC?
1
Posted on 6/13/22 at 2:07 am to brdrone
Stole this from twitter, but hilarious.
?Wife: you seemed stressed over your internet money. Let me get you a snack.
The Snack:
?Wife: you seemed stressed over your internet money. Let me get you a snack.
The Snack:
Posted on 6/13/22 at 6:22 am to BottomlandBrew
Coinbase is next
Posted on 6/13/22 at 7:01 am to Ross
Crazy. I had a loan with Celsius and it finished up last week. Got my BTC and moved it off Celsius Friday.
Posted on 6/13/22 at 7:01 am to tduecen
I need to get my last little bit off of CB. I usually keep about 10% or so on there.
Posted on 6/13/22 at 7:03 am to BottomlandBrew
This has probably been explained before, But I don't keep up with this thread. I have 2 ETH coins on CB, so do I need to move them? If so, how?
Posted on 6/13/22 at 7:06 am to PapaPogey
OK. You need a hardware wallet. Please please please read up on them. There are few popular ones.
The important thing about them are the 12-24 word pass phrases. Only you need to know this. No one else. Keep these pass phrase in a secure location and make sure you test the wallet by rebuilding it at least once to make sure you copied this information correctly BEFORE you send your crypto over. If you lose your pass phrase your wallet and ETH are gone.
Its good to write or type these pass phrases out and put them in a safe. Make copies. Dont leave or take a picture and keep it on a PC connected to the internet.
The important thing about them are the 12-24 word pass phrases. Only you need to know this. No one else. Keep these pass phrase in a secure location and make sure you test the wallet by rebuilding it at least once to make sure you copied this information correctly BEFORE you send your crypto over. If you lose your pass phrase your wallet and ETH are gone.
Its good to write or type these pass phrases out and put them in a safe. Make copies. Dont leave or take a picture and keep it on a PC connected to the internet.
This post was edited on 6/13/22 at 7:36 am
Posted on 6/13/22 at 7:14 am to Fox McCloud
quote:The "I told you so" envy from missing out on BTC/ETH is strongest during these fairly consistent corrections. Why don't you check the 10-year longitudinal timeline of Bitcoin and compare it to any other investment over the same span. 68k to 23k isn't even the largest correction. Without validating its the fourth largest. In the case of BTC/ETH the largest corrections are larger by at least a factor of seven compared to traditional investments, so it's certainly not a sandbox for weak hands and pussies.
It’s about equivalent to the amount of thought 90% of crypto investors gave when they bought it.
Here's a site you should check out: Bitcoin is Dead
This post was edited on 6/13/22 at 7:16 am
Posted on 6/13/22 at 7:17 am to ronricks
Lol. Us guys that have been into BTC for years warned of the upcoming crypto winter. I'll warn you all again. BTC will hit 100k within 3 years. You will have a short window to buy over the next 1-2 years.
Posted on 6/13/22 at 7:49 am to Ross
quote:
to some extent the crypto community did this to themselves with extremely poor marketing. Promises of 100x gains with the latest shitcoin of the week did a lot of damage to public perception.
However, those that fail to differentiate pump and dumps with projects that actually provide utility or a function that the world could actually benefit from are out of touch. The adoption curve has only steepened with every halving cycle and eventually people will interface with some of these tokens in a daily basis without thinking twice about it.
That's always been the issue since the first spike in 2015 or whenever. The technology and potential uses of blockchain coding are amazing. The problem is that once it became a tulip, all of that was thrown out of the window.
I've said that about BTC for years. I've always supported the tech as a currency supplement, but once it became an investment (that was expected to have insane gains, more specifically), it completely destroyed the utility as a currency. At that point, it's nothing more than a tulip and the value of the tech is gone.
The problem with just appreciating the tech is that it's boring and mass interest will die, which destroys the value as an investment (from both the lack of funding and the lack of interest). That's why people who don't fully understand the tech have been so negative about cryptos the past couple of years. The pump and dumps were so obvious and were so obviously inflating the market that you don't have to read the white papers of each coin to understand the overall bubble effects.
Posted on 6/13/22 at 7:55 am to JayDeerTay84
quote:
Its good to write or type these pass phrases out and put them in a safe. Make copies. Dont leave or take a picture and keep it on a PC connected to the internet.
THIS!
DO NOT TAKE A SCREENSHOT OF YOUR SEED AND LEAVE ON PHONE OR IN EMAIL. If a hacker is good enough to get into your phone or email, they will know what your "seed phrase" is for. I know of people that have gotten their crypto stolen like this.
Write your seed phrase down on paper! Store your crypto on a hard wallet! Do no store on a CEX!
NOT YOUR KEYS, NOT YOUR COINS!
Posted on 6/13/22 at 7:57 am to boomtown143
Why tf would I ever want to buy something that you have to go through this much trouble to secure. It’s trash and a waste of money.
Posted on 6/13/22 at 7:58 am to AUCE05
quote:
Lol. Us guys that have been into BTC for years warned of the upcoming crypto winter. I'll warn you all again. BTC will hit 100k within 3 years. You will have a short window to buy over the next 1-2 years.
Crypto has never been through a real recession. Crazy you can predict it's price movement with zero data.
Posted on 6/13/22 at 8:04 am to Fox McCloud
because in a world where companies and governments can cut off access to your accounts instantly, having the ability to self custody something that can be sent across the world peer to peer without the need of a centralized authority is valuable to some people
also, writing 24 words down on a sheet of paper isn’t exactly difficult
also, writing 24 words down on a sheet of paper isn’t exactly difficult
Posted on 6/13/22 at 8:05 am to Fox McCloud
quote:
Why tf would I ever want to buy something that you have to go through this much trouble to secure. It’s trash and a waste of money.
Huh, that much trouble?
you must be a boomer
Posted on 6/13/22 at 8:11 am to Fox McCloud
quote:
Why tf would I ever want to buy something that you have to go through this much trouble to secure. It’s trash and a waste of money.
Everything in life is a trade off. If everyone made a run on the bank today in your town, would they have your money? Legally, they do not have to have 100% of deposits.
The cost of controlling your crypto is a few extra steps of personal security.
Posted on 6/13/22 at 8:14 am to Fox McCloud
quote:
Why tf would I ever want to buy something that you have to go through this much trouble to secure.
It's easier and quicker than opening up a checking account at a traditional bank. Posted on 6/13/22 at 8:16 am to SlowFlowPro
quote:
it completely destroyed the utility as a currency
This is a fallacy though only repeated by "skeptics".
The OG BTC whitepaper NEVER referred to BTC as use for a currency specifically. In fact, as has been pointed it out, the word currency appears in the paper 1 time referring to FIAT.
quote:
The problem with just appreciating the tech is that it's boring and mass interest will die,
Nope, the problem is western folks don't live in pain where crypto really solves problems. We could mention this again, but people will inevitably give me Western reasons as to why they don't really need it.
It is true that in generally stable and non-corrupt countries like USA, you can live your live and never "need" crypto; until you do.
This post was edited on 6/13/22 at 8:17 am
Posted on 6/13/22 at 8:19 am to JayDeerTay84
Think for an example, you live in Russia and your glorious leader starts a war. How do you protect what little savings you have when the western world turns off the banking "system"?
There is currently one solution.
There is currently one solution.
Posted on 6/13/22 at 8:25 am to JayDeerTay84
quote:
Think for an example, you live in Russia and your glorious leader starts a war. How do you protect what little savings you have when the western world turns off the banking "system"?
There is currently one solution.
But what happens when the owners(celsius) just decide to shut it down? Not being an arse, just been reading and trying to figure this stuff out.
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