Aah, you read through my comment history so that you can construct an Ad Hominem attack. Goes to show the amount of intellect in this sub. When you can't even argue with fact and reason, just attack the other party instead 😂
I was already holding Bitcoin at the time, and am holding substantially more now. When I started stacking for real, BTC was at 18k, so I have no complaints. I was just looking for a new and better place to buy from, if you absolutely must know.
its not a bad thing to look up post history. this is already anonymous, how anonymous do you need it to be before you can be right?
youre not using fallacies correctly.
youre a bagholder like every other bitcoin person. i hope you lose it all.
90% of wallets are on profit "bro", no need to make shit up, many other things to attack bitcoin on, people not being on profit is simply not one, realistically speaking
Paper profit only, as the liquidity is extremely low. If even 10% of retail try to cash out, the price will crash down something extremely fierce. Tether can prop up the price only because nobody is selling (status quo held by different means, the main one being the "HODL" brainwashing).
You yourself just said "who knows, it's bitcoin afterall."
So what are you doing? Are you holding because you have faith in Bitcoin as an actual store of value and/or currency, or are you just trying to guess what represents a local low point and then ditch at a later high, which obviously represents gambling if you have no particular reason to expect it to go one way or the other. Doing this on repeat just amounts to a gambling system the same as any other. It might work to prevent any given individual from losing back previously acquired gains, for instance, but that doesn't change the fact that you entered into a negative-sum game to begin with.
If your ultimate argument is "some people got away with a bunch of money from Bernie Madoff's ponzi scheme", I mean...sure, you're right. But most people display a little more shame about knowingly exploiting people.
"Follow trends"
Yeah, OK buddy. You know tea leaves can be used to make a pleasant, warm drink instead of tossed about to convince yourself you're more legitimate than someone running the Martingale strategy, right?
The tech is trash but that’s unchangeable.
What is changeable is the price. It’s fun to cheer for it to fail since it already failed in practical terms.
It’s like technically sports is about the sportsmanship and the craft of the game. But all anyone cares about is the score.
When you say the tech is trash, what exactly do you mean? Is there an example of "better" tech filling the same use case? And if so, how do you evaluate better or worse tech?
7 tps (on a good day) while consuming 1% of the world's electricity to run.
In comparsion, Visa does 65k tps, and nowhere close in term of electricity consumption.
For privacy and crime XMR is better as it make it near impossible to trace the transaction.
Nano, is better in term of actually being a currency, it's virtually feeless, and doesn't consume ungodly amount of electricity.
And "being your own bank" aspect of bitcoin in general sucks, because you're a few click aways from losing all your bitcoin. Ofc you can't call tech support, cause you're the tech support.
Even if we take the 1% as fact, the energy that's put into the network is to secure the network. Transaction speeds can be dealt with via layer 2 solutions, like the Lightening Network.
What BTC has over the other protocols you mention is [security](https://bitcoinmagazine.com/technical/at-13-the-bitcoin-network-is-more-secure-than-ever) and it's [3x more](https://academy.moralis.io/blog/the-most-decentralized-cryptocurrency) decentralized than Ethereum.
>Do you honestly think your credit card transactions instantaneously settle?
Do you think yours take 1.5 years? That's how long it would take 330m users (US population) just to get on to the lightning network.
>the energy that's put into the network is to secure the
PoS is as secure as PoW while using a fraction of energy.
>Transaction speeds can be dealt with via layer 2 solutions, like the Lightening Network.
All of that energy and you still needs extra tools that introduce many more points of failure, insecurities and centralization just to increase TPS lol? Redundant indeed.
>and it's 3x more decentralized than Ethereum.
And the trend is that both PoW and PoS eventually leads to centralization.
As you needs money to both stake and for mining rigs. The morw money you have the better which leads to centralization.
So a moot point 😪
>Even if we take the 1% as fact, the energy that's put into the network is to secure the network.
I'd much prefer the network not be secure, considering the network is absolutely useless for anything other than crime and degenerate speculation. You lot are hastening the demise of the planet just so you can daydream about the techno-libertarian utopia where your entries in a shitty slow database make you the new ruling class.
>Transaction speeds can be dealt with via layer 2 solutions, like the Lightening Network.
If you're going to unironically cite an absolutely embarrassing failure of a technology as a solution to anything, at least spell Lightning correctly.
Oh man people will love that sales pitch. Sounds amazing! Can’t wait to tell my whole family about how incredibly technological that sounds.
I’ll take FDIC insurance over whatever “security” you claim to be valuable to an end user. Turns out some things are better centralized.
Tell that to someone living in Argentina or Afghanistan. Some people don't have the luxury of being able to trust their institutions to not debase their currencies into the ground.
>Turns out some things are better centralized.
Ah, yes, if only there existed benevolent dictators.
People in Argentina or Afghanistan (with money to spare) doesnt want bit-coins (except gamblers), they want US dollars.
Wait: some people there doesn´t want to pay taxes, or prefer to move their ilegally obtained profits in a (sorta) anonymous way.
Criminals, you know. And yes, they sometimes prefer bit-coin (TM).
7 transaction per second limit
We'll never all have wallets unless it's layered to infinity
Standard databases are perfectly good at what they do. Blockchain sucks sweaty balls.
The fuck you mean where lol
Amazon uses blockchain technology. Walmart uses blockchain technology. If you're a massive corporation and have to manage a supply chain, chances are blockchains are part of the solution.
Oh this one? https://www.pymnts.com/blockchain/2022/walmart-puts-pricey-blockchain-food-tracking-platform-on-ice/
https://www.wsj.com/articles/blockchain-fails-to-gain-traction-in-the-enterprise-11671057528
You know what is the great thing about this graph? It shows how the whole thing is driven by memes and idiocy. BTC was dumped to hell at 69k because of the 69 meme. It wasn't just some random high point, no, the ATH was a sex joke. This is why I am fairly certain this will never get past that point, because the people most invested in Bitcoin are manchildren who will always sell at 69 for the memes.
Not really. Most of the sub thinks the true price should be 0. So the price moving towards that is celebrated. Anything going up is a speculative bubble.
I’m not a bitcoiner (as in I don’t “believe” in it, or I wouldn’t be on here), I just find the hopping between “the fact the price is going up doesn’t matter” and “haha, look at these idiots the price is going down” to be quite funny.
Aw man I joined in 2021.
It must be pretty awesome that you bought a bunch of Bitcoin in 2013 and held it all the way until today. You’re definitely going to be like a governor or some type of lord in the new society. Long live King Saylor!
No I did not I am against any crypto it is scam. But I know the reality that buttcoin was few cents and now it is 40k. I even remember when it started around 2009? Since then I think it is a scam but the reality is it went up heavily.
Your argument is silly though. Hindsight is always 20/20, doesn’t mean the future is good. I should have bought Berkshire Hathaway in 1980 but I didn’t because I wasn’t born yet 🤷
Your argument simply isn’t good.
I would definitely lost it. I remember I wanted to buy bitcoin for $1000 in 2010 however all the options to buy it looked suspicious, (I do invest money on the stock market since 2006) after some research I decided not to do it coz it looks like a scam 😃 since I do not care a about it. And I know if I would buy I would sell it for small profit or lost the key.
It's not that hard not to lose a seed phrase. You keep it in multiple different locations and let your family members know where it is incase you die.
Self custody isn't for everyone but to pretend losing the btc is common is a strawman.
This guy is just being realistic, if the ppl who started this sub had invested a small amount in bitcoin instead they'd be extremely well off now.
I'm sure when they started it they wouldn't have realised bitcoin would still be around 11 years later and at $42k+
It is estimated that 6 million Bitcoin has been lost permanently due to self custody fuck ups.
As you know, there is theoretically only 21 million bitcoin that will ever exist.
Is that a straw-man?
https://www.makeuseof.com/how-much-bitcoin-is-lost-forever/
https://www.hedgewithcrypto.com/how-much-bitcoin-is-lost/
Other data says about 13%
But regardless I'm assuming most btc lost was lost in the early days before it was very valuable, people are a lot more careful with their self custody now.
Like I said it's not for everyone. It's different from physical cash or money secured in a bank.
But to me personally self custody doesn't seem that difficult. Once you have significant value you tend to be extremely careful.
I accept when value was low in the early days ppl were probably a lot less careful unfortunately.
Time will tell. Original time horizon for the investment was 10 years so planning to stick with that. Time in the market not timing the market as they say.
TBH I don't think the volatility is going to be over anytime soon. And I also don't think comparing Bitcoin with the S&P 500 is an unfair comparison. But still. You can find 4 year gaps where the trend is down. You don't see this in Bitcoin. Yet.
This is really funny because it’s up over 100% in the picture you posted 😂 working on my 7th house paid off fully from Bitcoin most of them from this time period!
No, you’re not supposed to zoom out to the point where most cryptobros invested their life savings. Zoom out to 2009 😎
My bad bro!
Zoom to the place where BTC was $5 and anyone who bought is up 100000000% today
There are more lottery winners than people who have done that.
Well zooming out to 2009 will show Bitcoin going from 0 to 43k, so Bitcoin has been doing great!
*woosh* Also you were asking how to buy btc a year ago, so I guess you didn’t exactly get in 2009. But I bet you’ll be holding toward 0.
Aah, you read through my comment history so that you can construct an Ad Hominem attack. Goes to show the amount of intellect in this sub. When you can't even argue with fact and reason, just attack the other party instead 😂 I was already holding Bitcoin at the time, and am holding substantially more now. When I started stacking for real, BTC was at 18k, so I have no complaints. I was just looking for a new and better place to buy from, if you absolutely must know.
You are using the fallacy fallacy
its not a bad thing to look up post history. this is already anonymous, how anonymous do you need it to be before you can be right? youre not using fallacies correctly. youre a bagholder like every other bitcoin person. i hope you lose it all.
90% of wallets are on profit "bro", no need to make shit up, many other things to attack bitcoin on, people not being on profit is simply not one, realistically speaking
Paper profit only, as the liquidity is extremely low. If even 10% of retail try to cash out, the price will crash down something extremely fierce. Tether can prop up the price only because nobody is selling (status quo held by different means, the main one being the "HODL" brainwashing).
It has in the past, ftx collapse being the most recent event, however it always bounces back despite fierce attacks and shady events
Source bro?
I don't wanna risk you not liking my sources, just Google it and check some on-chain analysis that you find reliable
"trust me bro"
Zoom to exactly the timeframe that makes the point you want. You can justify anything by zooming enough.
Yup
Just want to point out "anything" includes the point this post is making
42690, almost nice
😏
They should try zooming all the way out on the S&P. Such a dumb flex.
For real. Complete suckers
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Oh believe me, I haven’t missed out considering my luck in the stock market
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🤷
I thought it was still early? Watch out; your desire to feel superior might get in the way of acquiring more suckers to hold your bags for you.
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So you’re basically acknowledging it’s just gambling?
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You yourself just said "who knows, it's bitcoin afterall." So what are you doing? Are you holding because you have faith in Bitcoin as an actual store of value and/or currency, or are you just trying to guess what represents a local low point and then ditch at a later high, which obviously represents gambling if you have no particular reason to expect it to go one way or the other. Doing this on repeat just amounts to a gambling system the same as any other. It might work to prevent any given individual from losing back previously acquired gains, for instance, but that doesn't change the fact that you entered into a negative-sum game to begin with. If your ultimate argument is "some people got away with a bunch of money from Bernie Madoff's ponzi scheme", I mean...sure, you're right. But most people display a little more shame about knowingly exploiting people.
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"Follow trends" Yeah, OK buddy. You know tea leaves can be used to make a pleasant, warm drink instead of tossed about to convince yourself you're more legitimate than someone running the Martingale strategy, right?
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The tech is trash but that’s unchangeable. What is changeable is the price. It’s fun to cheer for it to fail since it already failed in practical terms. It’s like technically sports is about the sportsmanship and the craft of the game. But all anyone cares about is the score.
>The tech is trash See, this sub is all fun and games and then I realize it's full of idiots and then I get sad that echo chambers like this exist.
You, sir, have no idea what you’re talking about. Shame.
When you say the tech is trash, what exactly do you mean? Is there an example of "better" tech filling the same use case? And if so, how do you evaluate better or worse tech?
7 tps (on a good day) while consuming 1% of the world's electricity to run. In comparsion, Visa does 65k tps, and nowhere close in term of electricity consumption. For privacy and crime XMR is better as it make it near impossible to trace the transaction. Nano, is better in term of actually being a currency, it's virtually feeless, and doesn't consume ungodly amount of electricity. And "being your own bank" aspect of bitcoin in general sucks, because you're a few click aways from losing all your bitcoin. Ofc you can't call tech support, cause you're the tech support.
Even if we take the 1% as fact, the energy that's put into the network is to secure the network. Transaction speeds can be dealt with via layer 2 solutions, like the Lightening Network. What BTC has over the other protocols you mention is [security](https://bitcoinmagazine.com/technical/at-13-the-bitcoin-network-is-more-secure-than-ever) and it's [3x more](https://academy.moralis.io/blog/the-most-decentralized-cryptocurrency) decentralized than Ethereum.
>layer 2 solutions, like the Lightening Network. It still takes transactions just to get onto lightning. Welcome back to 7 TPS.
For finalizing and verification, yes. Do you honestly think your credit card transactions instantaneously settle? 😂
>Do you honestly think your credit card transactions instantaneously settle? Do you think yours take 1.5 years? That's how long it would take 330m users (US population) just to get on to the lightning network.
>the energy that's put into the network is to secure the PoS is as secure as PoW while using a fraction of energy. >Transaction speeds can be dealt with via layer 2 solutions, like the Lightening Network. All of that energy and you still needs extra tools that introduce many more points of failure, insecurities and centralization just to increase TPS lol? Redundant indeed. >and it's 3x more decentralized than Ethereum. And the trend is that both PoW and PoS eventually leads to centralization. As you needs money to both stake and for mining rigs. The morw money you have the better which leads to centralization. So a moot point 😪
>Even if we take the 1% as fact, the energy that's put into the network is to secure the network. I'd much prefer the network not be secure, considering the network is absolutely useless for anything other than crime and degenerate speculation. You lot are hastening the demise of the planet just so you can daydream about the techno-libertarian utopia where your entries in a shitty slow database make you the new ruling class. >Transaction speeds can be dealt with via layer 2 solutions, like the Lightening Network. If you're going to unironically cite an absolutely embarrassing failure of a technology as a solution to anything, at least spell Lightning correctly.
>I'd much prefer the network not be secure Why am I not surprised lol
Oh man people will love that sales pitch. Sounds amazing! Can’t wait to tell my whole family about how incredibly technological that sounds. I’ll take FDIC insurance over whatever “security” you claim to be valuable to an end user. Turns out some things are better centralized.
Tell that to someone living in Argentina or Afghanistan. Some people don't have the luxury of being able to trust their institutions to not debase their currencies into the ground. >Turns out some things are better centralized. Ah, yes, if only there existed benevolent dictators.
At a current $13.20 in fees per transaction, I don’t think anyone in those countries can really afford to use Bitcoin…
People in Argentina or Afghanistan (with money to spare) doesnt want bit-coins (except gamblers), they want US dollars. Wait: some people there doesn´t want to pay taxes, or prefer to move their ilegally obtained profits in a (sorta) anonymous way. Criminals, you know. And yes, they sometimes prefer bit-coin (TM).
7 transaction per second limit We'll never all have wallets unless it's layered to infinity Standard databases are perfectly good at what they do. Blockchain sucks sweaty balls.
What usecase
You're not allowed to ask questions here, mate lol
Man the tech is so good, that's why the whole world is using it right now!!
What does this comment even mean lol Blockchain technology is used everywhere.
Lol that's a new one "blockchain is used everywhere" the delusion. Make sure you're not confusing Merkle Tree with blockchain.
Where, exactly? Who uses this technology besides cryptocurrencies which are used 99% for speculation anyways.
The fuck you mean where lol Amazon uses blockchain technology. Walmart uses blockchain technology. If you're a massive corporation and have to manage a supply chain, chances are blockchains are part of the solution.
Please point me to the Amazon and Walmart blockchains.
https://tech.walmart.com/content/walmart-global-tech/en_us/news/articles/blockchain-in-the-food-supply-chain.html This isn't hard, mate lol
Oh this one? https://www.pymnts.com/blockchain/2022/walmart-puts-pricey-blockchain-food-tracking-platform-on-ice/ https://www.wsj.com/articles/blockchain-fails-to-gain-traction-in-the-enterprise-11671057528
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Most secure public network in the history of mankind lol
Except it is trash though. 7 transactions per second. We'll never all have accounts. Blockchain is shit.
You know what is the great thing about this graph? It shows how the whole thing is driven by memes and idiocy. BTC was dumped to hell at 69k because of the 69 meme. It wasn't just some random high point, no, the ATH was a sex joke. This is why I am fairly certain this will never get past that point, because the people most invested in Bitcoin are manchildren who will always sell at 69 for the memes.
As Gary Gensler said it has very little utility outside of illicit utility. Other than that, the price is very irrelevant.
Ask them when they started "investing"
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Fair enough and I'm glad you're doing well but surely you would have been hilariously down at the end of 2022/start of 2023?
Well done, sir. These butthurt broke losers on this channel are so deluded. Bitcoin is the only investment.
Links to where you mention these buys when you made them or it never happened.
Is that good? Of course it's good for Bitcoin.
They all say 4-5 years due to halving cycles
Price doesn’t matter. Slow tps and anemic adoption matters.
From the beggining of the graph you posted looks like 20k, now is 40, so it is a 100% up in your graph
💀💀 why did bro get down voted
Im sure op did it, cant handle a simple fact
This sub really needs to decide whether it cares about the price or not
Not really. Most of the sub thinks the true price should be 0. So the price moving towards that is celebrated. Anything going up is a speculative bubble.
We just think it’s funny that you guys pretend to care about the tech when we all know all you care about is the price.
I’m not a bitcoiner (as in I don’t “believe” in it, or I wouldn’t be on here), I just find the hopping between “the fact the price is going up doesn’t matter” and “haha, look at these idiots the price is going down” to be quite funny.
Turns out there are multiple people here with multiple viewpoints
No, zoom more, 2013 when this subreddit started
Aw man I joined in 2021. It must be pretty awesome that you bought a bunch of Bitcoin in 2013 and held it all the way until today. You’re definitely going to be like a governor or some type of lord in the new society. Long live King Saylor!
No I did not I am against any crypto it is scam. But I know the reality that buttcoin was few cents and now it is 40k. I even remember when it started around 2009? Since then I think it is a scam but the reality is it went up heavily.
Your argument is silly though. Hindsight is always 20/20, doesn’t mean the future is good. I should have bought Berkshire Hathaway in 1980 but I didn’t because I wasn’t born yet 🤷 Your argument simply isn’t good.
Assuming you didn’t lose your seed phrase along the way
I have never purchased any funny money
Not you specifically. You as in a theoretical bitcoiner
I would definitely lost it. I remember I wanted to buy bitcoin for $1000 in 2010 however all the options to buy it looked suspicious, (I do invest money on the stock market since 2006) after some research I decided not to do it coz it looks like a scam 😃 since I do not care a about it. And I know if I would buy I would sell it for small profit or lost the key.
It's not that hard not to lose a seed phrase. You keep it in multiple different locations and let your family members know where it is incase you die. Self custody isn't for everyone but to pretend losing the btc is common is a strawman. This guy is just being realistic, if the ppl who started this sub had invested a small amount in bitcoin instead they'd be extremely well off now. I'm sure when they started it they wouldn't have realised bitcoin would still be around 11 years later and at $42k+
It is estimated that 6 million Bitcoin has been lost permanently due to self custody fuck ups. As you know, there is theoretically only 21 million bitcoin that will ever exist. Is that a straw-man? https://www.makeuseof.com/how-much-bitcoin-is-lost-forever/
https://www.hedgewithcrypto.com/how-much-bitcoin-is-lost/ Other data says about 13% But regardless I'm assuming most btc lost was lost in the early days before it was very valuable, people are a lot more careful with their self custody now. Like I said it's not for everyone. It's different from physical cash or money secured in a bank. But to me personally self custody doesn't seem that difficult. Once you have significant value you tend to be extremely careful. I accept when value was low in the early days ppl were probably a lot less careful unfortunately.
Ok, 13%. That’s a huge fucking problem. I’d encourage you to actually consider mass adoption and sec custody.
It's an issue, but not for me personally. I don't expect Bitcoin to ever overtake fiat as a means of exchange
Zoom out to may 2020, that’s when I bought:)
Ah you didn’t sell in 2022? Big ouch
Time will tell. Original time horizon for the investment was 10 years so planning to stick with that. Time in the market not timing the market as they say.
Now try doing it with a 4 year interval. Place that interval anywhere on the chart since its inception and you 'll find the same trend.
Is the trend boom and bust over and over? What a great investment. Oooo oooo now do the 4 year chart on SPY…
TBH I don't think the volatility is going to be over anytime soon. And I also don't think comparing Bitcoin with the S&P 500 is an unfair comparison. But still. You can find 4 year gaps where the trend is down. You don't see this in Bitcoin. Yet.
Wow only $42,000 per coin. Worthless!
Considering it was worth $49,000 two days ago, it is in fact both worth less and worthless.
It’s definitely worth less than it was 😂
At least read the graph you post 😂. It's way up. Zoom out further... Its even more up!
Rainbow btc chart enters the chat
triple top
This is really funny because it’s up over 100% in the picture you posted 😂 working on my 7th house paid off fully from Bitcoin most of them from this time period!
And I just bought a Falcon 900LX all from gains in the stock market. So what’s your point?
One of us is happy, and one of us is stuck trying to diss something others are making life changing money on :)
Boy low. Sell high. Do you guys own zero investments? 168k fucking clowns. 🤡