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re: This person might have a point about crypto
Posted on 2/15/22 at 5:52 am to deathvalleytiger10
Posted on 2/15/22 at 5:52 am to deathvalleytiger10
quote:
If my Bitcoin account is hacked, who do I call, and would it matter?
Your Bitcoin can’t be hacked if you keep it on a hard wallet.
1
Posted on 2/15/22 at 6:08 am to stout
crypto depends on computer networks and electricity
neither of which are likely to be up and running in a
SHTF scenario
neither of which are likely to be up and running in a
SHTF scenario
Posted on 2/15/22 at 6:17 am to stout
One day it will all be gone, and those of us who kept buying gold and silver, will be sitting pretty. And i live in a state where gold is legal tender.
Not sure what ur going to do at grocery store with your doogiecoins.
Not sure what ur going to do at grocery store with your doogiecoins.
Posted on 2/15/22 at 6:42 am to stout
farmland is the biggest thing...once the elites own all or most of the private land its over
Posted on 2/15/22 at 6:45 am to Ronaldo Burgundiaz
quote:
This thread is a boomer convention.
Yes it is.
Posted on 2/15/22 at 7:46 am to APHA
I would argue that in true government clampdown Bitcoin is still worthless as you would have no way to exchange it. Banks would not process your transaction to exchange for tangible currency. Maybe you could flee the country but if it’s really that bad that is not a given.
This post was edited on 2/15/22 at 7:50 am
Posted on 2/15/22 at 8:24 am to TigerStripes30
quote:
farmland is the biggest thing...once the elites own all or most of the private land its over
And as of last year Billy Gates is the largest private owner of farmland in the states now which he accumulated most after covid started. Coincidence? I think not
Posted on 2/15/22 at 8:28 am to WhiteMandingo
quote:
Can you explain the mining to me. I hear about it but have no idea what it means. Also explain it as if you would a kindergartner. I have associates who are into crypto yet they cannot truly explain the mining process.
Sure. Purchase GPUS, motherboard, cpu, power supply(big enough to handle the gpus), ram, a mining frame, cooling fans, risers, and a hard drive, and a hard wallet... Put it together.
Decide what platform you want to run. Windows or linux. Install it. Down load your miner.
Decide where you want to mine from (pool), direct your miner to that pool with the proper wallet address. Start the miner. adjust your overclock to use the least electricity without giving up much hashrate.
The miner will go to work... deposit the crypto into your wallet. You then cash it out at an exchange when you want.
If you have a gaming PC, you may have a gpu that will do well to get started. If that's the case, you download the miner, start mining.
Posted on 2/15/22 at 8:31 am to stout
Pretty good until he said “commodities chad”. That being said, land is something everyone should want to own. At minimum, your house and the land under it. But many should aspire to own much more
Posted on 2/15/22 at 8:33 am to Jjdoc
quote:
Jjdoc
Unfortunately there’s way more to mining than what you’ve stated. The biggest issue being generating a margin when considering the costs of electricity to run the mining programs and high powered computing, and the maintenance costs of said computing. Private and public companies are struggling to overcome these costs at a profit, individuals have almost no shot to mine profitably over a long term
Posted on 2/15/22 at 8:37 am to stout
That is exactly what I have been saying. It was interesting how the libertarian bros freaked out by the Fed printing press moved from being hard asset goldbugs (which I understood) to something even more digital and less tangible -- crypto. But, hey, it's secure and finite, man, you just don't get it.
This post was edited on 2/15/22 at 8:39 am
Posted on 2/15/22 at 8:38 am to stout
1) the usd is on par with the shittiest of shite coins.
2) i didnt need the chans to tell me paying hundreds of thousands of dollars for the right to put my name on a jpeg is a waste of money.
3) you’re going to get a central bank digital currency. You do not want a CBDC without healthy alternatives. You want decentralized options.
2) i didnt need the chans to tell me paying hundreds of thousands of dollars for the right to put my name on a jpeg is a waste of money.
3) you’re going to get a central bank digital currency. You do not want a CBDC without healthy alternatives. You want decentralized options.
Posted on 2/15/22 at 8:47 am to EA6B
quote:
Or the creator uses the “backdoor” they put in the code to take it or maybe just make it all vanish for the fun of it.
Most crypto projects are open source. Bitcoin's code has been freely available since it's inception.
If what you say is true, someone would have found the vulnerabilities by now.
This post was edited on 2/15/22 at 8:48 am
Posted on 2/15/22 at 8:49 am to stout
good point.
Posted on 2/15/22 at 9:05 am to Jack Carter
quote:
Your Bitcoin can’t be hacked if you keep it on a hard wallet.
Where is the hard wallet? On my pc or in the cloud?
Posted on 2/15/22 at 9:05 am to deathvalleytiger10
In your hand
Posted on 2/15/22 at 9:08 am to deathvalleytiger10
quote:
Where is the hard wallet? On my pc or in the cloud?
It's an external storage device.
Posted on 2/15/22 at 9:15 am to Jack Carter
quote:
The feds just added billions dollars worth of crypto to its balance sheet. They already have some. What are you suggesting they're going to do with it? All they can do is hold it or sell it. The more they buy the higher the value will go because unlike fiat, you can't print more bitcoin. There's only a limited supply
The USA, China, etc. created crypto so they could push the price high, suck out everyone's cash and take that cash to fund black ops programs. Instead of having to use tax money, they are fleecing the average joe of their money and sending it directly to the black programs. It is essentially the new drug world which used illegal narcotics to raise cash and fund all the black programs.
Posted on 2/15/22 at 9:27 am to TrueTiger
quote:
crypto depends on computer networks and electricity
neither of which are likely to be up and running in a
SHTF scenario
IMO when it comes to finances and investments you have to be nimble. You can't be married to one asset all the time. Every asset has is own inherent risk. Whether it's crypto, land or lead. Understand the risk trough research and invest were you feel comfortable. It's as simple as that. The key is to accumulate more assets than labilities over time. I also like to make sure my assets are pretty liquid. But that's just me.
Posted on 2/15/22 at 9:28 am to deathvalleytiger10
quote:
Where is the hard wallet? On my pc or in the cloud?
On a thumb drive.
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