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  #21  
Old 07-13-2022, 12:03 AM
Jibartik Jibartik is offline
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in 6 years 500k will feel like 500 bucks.
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  #22  
Old 07-13-2022, 09:42 AM
Castle2.0 Castle2.0 is offline
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Originally Posted by Topgunben [You must be logged in to view images. Log in or Register.]
Bitcoin is nothing special save for its critical mass and notoriety. I believe the more saturated the market gets with alternative viable cryptos, the more diluted BTC's value will be.
USD is nothing special save for its critical mass and notoriety. I believe the more saturated the market gets with alternative national currencies, the more diluted USD's value will be.

Re-read that ^ and now you know why you don't believe that is true of USD and why you shouldn't believe it's true of BTC. If you don't know why Bitcoin isn't being challenged by other cryptos to be "money" it's because you don't understand Bitcoin. Learn more.
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  #23  
Old 07-13-2022, 11:13 AM
peterpal peterpal is offline
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Bitcoin was made to be used as currency not a speculative asset for the rich. When it's stupidly high and network is congested you pay high fees and it's slow ergo not usable as a currency. On April 21 2021 the fee to send any amount was $62. Send someone $1 and you pay $62 fees. Great deal.

Just saying as someone who bought in 2014 after the mtgox crash and was aware of it even earlier but it was a hassle to buy then. I really dislike the new age crypto/tech bros and Elon worshippers that try to bring crypto into every conversation and don't even feel bad he scammed you into buying doge
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  #24  
Old 07-13-2022, 11:31 AM
Castle2.0 Castle2.0 is offline
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Originally Posted by peterpal [You must be logged in to view images. Log in or Register.]
Bitcoin was made to be used as currency not a speculative asset for the rich. When it's stupidly high and network is congested you pay high fees and it's slow ergo not usable as a currency. On April 21 2021 the fee to send any amount was $62. Send someone $1 and you pay $62 fees. Great deal.

Just saying as someone who bought in 2014 after the mtgox crash and was aware of it even earlier but it was a hassle to buy then. I really dislike the new age crypto/tech bros and Elon worshippers that try to bring crypto into every conversation and don't even feel bad he scammed you into buying doge
  1. Lightning Network (LN). Send Bitcoin instantly for almost free on Layer 2 of the bitcoin blockchain. Learn more here: https://lightning.network/ This is what will allow Bitcoin to be used as a currency. Pssst, this is what El Salvador is using.
  2. If you want Layer 1 settlement (sending bitcoin on the bitcoin network) it's right now $0.06 to $1.60, depending if you want it sent in ~10 minutes to 4 hours. In the future, people will use Layer 2 solutions like LN for daily transactions. Layer 1 settlement will only be for large amounts or important transactions like mortgages.
  3. I have been in crypto longer than you and most people for that matter. Not going to share my bitcointalk forum handle and dox myself, sorrynotsorry.
  4. If you buy a dog-themed coin you deserve to get hosed
  5. There are YUGE opportunities in DeFi, just like tech stocks in the late 90s. Most will fail. Most people will get hosed. Just buy BTC and HODL unless you actually want full-time employment researching/investing in crypto.
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  #25  
Old 07-13-2022, 12:20 PM
Evia Evia is offline
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Quote:
Originally Posted by Castle2.0 [You must be logged in to view images. Log in or Register.]
When Christ returns Proverbs 11:4 will be quite meaningful.

"Riches do not profit in the day of wrath, but righteousness delivers from death."

Interestingly...

Poor people plan for today
The middle-class plan for college for kids + retirement
The ultra-wealthy plan for multi-generational wealth
Christians plan for eternity

What's your time horizon? Further out = wealthier

Another worthwhile verse:





Besides fractional reserve fiat currencies being incredibly prone to moral hazard, they themselves are an abomination.



*queues up fools to come with out-of-context quotations and a lack of basic biblical understanding such as proper exegesis and context*

My primary interest in Bitcoin isn't a lambo. Yellow Ferrari? Nay.

Honest money is better for humanity. Nothing wrong with accumulating money - but how you do it and what you do with it is what counts.

What is wrong with money? Dishonest scales and moral hazard. Our current system is rife with it.

Bro I love that you just shared a Thrice song. I thought of that song as soon as I read the Bible passage and was stoked to see you follow it up with that track. Vheissu by Thrice is top tier.
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  #26  
Old 07-13-2022, 04:06 PM
Kaveh Kaveh is offline
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Quote:
Originally Posted by Castle2.0 [You must be logged in to view images. Log in or Register.]
  1. Lightning Network (LN). Send Bitcoin instantly for almost free on Layer 2 of the bitcoin blockchain. Learn more here: https://lightning.network/ This is what will allow Bitcoin to be used as a currency. Pssst, this is what El Salvador is using.
  2. If you want Layer 1 settlement (sending bitcoin on the bitcoin network) it's right now $0.06 to $1.60, depending if you want it sent in ~10 minutes to 4 hours. In the future, people will use Layer 2 solutions like LN for daily transactions. Layer 1 settlement will only be for large amounts or important transactions like mortgages.
  3. I have been in crypto longer than you and most people for that matter. Not going to share my bitcointalk forum handle and dox myself, sorrynotsorry.
  4. If you buy a dog-themed coin you deserve to get hosed
  5. There are YUGE opportunities in DeFi, just like tech stocks in the late 90s. Most will fail. Most people will get hosed. Just buy BTC and HODL unless you actually want full-time employment researching/investing in crypto.
El Salvador is approaching Sri Lankan levels of insolvency because of Bitcoin and president Habib or whatever his name is

Great point to make here, Jesus
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  #27  
Old 07-13-2022, 08:45 PM
Castle2.0 Castle2.0 is offline
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Never said I agreed with forcing people to use bitcoin. Bitcoin is a long-term store of value, it's not a unit of account for day-to-day transactions yet.

It's pretty simple. Put the money that you don't need today in bitcoin. Hold it for at least 4 years. If you're putting in the money you may need in the next 4 years, you'll become a forced seller and potentially lose money.

It's not rocket science, but I doubt few of you geniuses will do it [You must be logged in to view images. Log in or Register.]
Last edited by Castle2.0; 07-13-2022 at 08:51 PM..
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  #28  
Old 07-13-2022, 09:00 PM
Reiwa Reiwa is offline
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Originally Posted by Kaveh [You must be logged in to view images. Log in or Register.]
El Salvador is approaching Sri Lankan levels of insolvency because of Bitcoin and president Habib or whatever his name is

Great point to make here, Jesus
And LN has been promoted since like 2016 or whenever that crazy speculative high was.

4-6 years have passed and bitcoin is still trash as a currency.
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  #29  
Old 07-13-2022, 09:40 PM
Castle2.0 Castle2.0 is offline
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Originally Posted by Reiwa [You must be logged in to view images. Log in or Register.]
And LN has been promoted since like 2016 or whenever that crazy speculative high was.

4-6 years have passed and bitcoin is still trash as a currency.
So is gold and TSLA and true love. Worthless.

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The internet has been raved about by a few loonies since the 70s. It'll never catch on.
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  #30  
Old 07-13-2022, 09:50 PM
Reiwa Reiwa is offline
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Originally Posted by Castle2.0 [You must be logged in to view images. Log in or Register.]
So is gold and TSLA and true love. Worthless.
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