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What does Voat think of crypto?

submitted by UrCoolerOlderBrother to AskUpgoat 2.2 yearsJan 17, 2022 14:46:12 ago (+13/-1)     (AskUpgoat)

I am just curious what the public consensus is around here. I feel like most just see crypto as another jewish money manipulation scam. I see the dangers of moving money, and therefore all transactions, onto a public blockchain. I can see how it is all another globalist way to gain more control of people. But I also think that if this shit is going to be forced on us in the future, I may as well be an early adopter and make as much money for myself in the process as possible. I'm just curious what people think. So, thoughts? Anyone?


84 comments block


[ - ] rhy 0 points 2.2 yearsJan 24, 2022 18:03:12 ago (+0/-0)

I actually was on a cryptocurrency team, attended several blockchain conventions etc.., and I also ran a news program surrounding one aspect of the market: Masternodes. I did almost 100 episodes, you can check them out here:

https://www.youtube.com/playlist?list=PLaZKzpVau4rPRAmupjtTVS92o9z10Xkc0

Here are my uncensored and honest thoughts:

Cryptocurrency is fake and gay. But infinitely less fake and gay than government controlled currency such as the continuously printed federal reserve note.

Not as real as silver or ammo, but useful in a lot of ways silver and ammo are not useful. For example, you can memorize your 12 words and just walk naked to another country and recover your crypto. Can't do that with silver or ammo.

Also the silver market is GROSSLY manipulated. Silver should be at LEAST $100 an ounce, but isn't because they keep printing paper silver on the SUPER fake and gay stock market. So it's not a good investment at all. Unless we hang all the jews manipulating the market, which is not likely to happen any time soon imho.

My actual advice: Buy the fuck out of BTC right now. This price is very low, and it's a great store of value that governments and sadistic ex-wives can't fuck with. Then sell a little every time it hits ATH, and buy a little when it does a fake and gay crash, like the one happening right now.

And don't take advice from these other nigger faggots. They literally have no idea what the fuck they are talking about, and just want to feel superior in a circle jerk because they already missed 1,000x gains. Whiny faggots.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 25, 2022 02:36:40 ago (+0/-0)

I appreciate the response. What is a cryptocurrency team and what did you do? Also did you get wealthy from bitcoin or other cryptocurrencies? And what do you think about Craig wright possibly being Satoshi?

[ - ] jammicsmith 0 points 2.2 yearsJan 17, 2022 20:53:23 ago (+0/-0)

Bitcoin is the future of money. Every alt is a scam. Some would say that I've bet everything I own on bitcoin, but I'd say I've converted all of my assets to the most fundamentally sound money ever created. I believe in it for all the reasons you've already read about and because I see a solution to every problem that's been highlighted by its critics. Happy to have a discussion on any particular point of concern you have.

[ - ] i_scream_trucks 0 points 2.2 yearsJan 18, 2022 08:05:16 ago (+0/-0)

"Ive bet everything i own on bitcoin"

so youre broke as fuck then.

[ - ] jammicsmith 1 point 2.2 yearsJan 18, 2022 19:02:33 ago (+1/-0)

I retired in my 30's. You could say I got lucky, that's what most people say, but that's just sour grapes. I recognized the possibilities early and bought an almost meaningless amount of bitcoin when it was basically worthless. I wasn't a true believer until I read and understood how the Lightening Network works. As a true believer, I have a retirement amount of money in bitcoin and no interest in diversifying into the stock market casino that the Fed decides to crash every 10ish years, banks where you get a consistent loss of value when accounting for inflation, or cash which is even worse. I could try investing in art I guess, but that seems silly. If I'm wrong, my money is where my mouth is and I'll live or die with my choice. But I'm all in and I feel great about it.

[ - ] rhy 0 points 2.2 yearsJan 24, 2022 17:53:43 ago (+0/-0)

You are literally me. Except I'm older.

[ - ] jammicsmith 0 points 2.2 yearsJan 24, 2022 19:21:49 ago (+0/-0)

Well congrats to you. Feels great to finally be free from morons telling me what to do.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 19, 2022 10:00:18 ago (+0/-0)

[ - ] jammicsmith 0 points 2.2 yearsJan 19, 2022 14:48:22 ago (+0/-0)


I felt exactly like him in 2017 when this war took place. I hated Seg Wit and Lightening Network, not because I'd done the research... but because I hate stifling free speech, and the side that appeared to be stifling free speech was the side that was pro SegWit/LN/small blocks. Also, the white paper released by Satoshi did seem to imply that that block size should rise over time as hardware improves. Their arguments made sense to me. However... I knew that I just didn't know. And I already had what I had, so I was in a good position. The chain split between BTC and BCH and I had both, so I could wait to see who won. Which, by the way, is also in the white paper - the longest chain IS bitcoin. That is determined by people putting their money where their mouth is.

In the years since, I've thought about this a lot. I've always had the nagging thought in the back of my mind. How does bitcoin scale? 1MB/s is somewhere between 8-30 transactions/s based on which protocol you use. Visa is processing 40k t/s. And that's not all the world's transactions, that's just Visa. To get just Visa's throughput through bitcoin with 30 t/s = 1MB, you'd have to make 10 minute blocks 1.3GB to get 40k t/s. This is not going to scale for a system that never removes old transactions. The blockchain would have to be stored in a large data farm in the not too distant future. I thought to myself, someone has to solve this for bitcoin to have a chance... Also, the 10m confirmations for a transaction, the transaction fees during congestion - it just wasn't feasible to use bitcoin as an actual currency IMO.

So now, several years later, I never really researched SegWit, but I did research LN. In the 2017 war, LN was called a side chain and not real bitcoin. But I finally got around to reading the technical document on how LN works.

https://github.com/lnbook/lnbook

It basically uses multi-sig wallets and partially signed transactions to allow people to "send" bitcoin back and forth without requiring a transaction on the block chain, but enabling anyone to settle on the blockchain at any time. Its actually genius. I got really excited as I read how it was implemented. I could see this solved all three problems I'd had for years. It allows for instant transactions, very low cost transactions, and scales infinitely. It uses onion routing to connect LN channels for convenience. When I understood it, I was completely sold on Bitcoin being the future of money. Both daily spending and saving.

I still haven't researched SegWit. I probably should, but I just don't have the time to do everything I want to do in life... I also haven't researched Eth/Monero/etc/etc/etc enough.

Now, the guy in the video is trying to make SegWit sound bad, but he says things that make me think he isn't thinking about it the right way. He talks about the economics not making sense with SegWit. He says miners HAVE to have each transaction have more transaction fees. To me, the miners have to have enough money to make mining profitable. That's it. If they do, they'll mine - If they don't, they won't. If BTC becomes more valuable, and people are willing to pay more for it, miners can receive significantly less BTC and effectively receive more value. Nobody knows exactly what this looks like in 2140 when the last bitcoin is mined. Basically, his argument doesn't convince me of anything. Then he starts talking about using competitors (alt coins), which I don't believe will be a thing in 20 years. Bitcoin is going to win, alt coins are going to be novelties at best.

These articles explain why Bitcoin (whatever wins) will be the only crypto, long-term.

https://armantheparman.com/why-bitcoin-only/

https://www.bitrawr.com/bitcoin-maximalism-explained

Also, halfway through the video, I noticed in the description a link to craigwright.net and a comment that links to a Craig Wright video and calls him the "inventor of Bitcoin".

I've seen enough. I think the likelihood of Craig Wright being Satoshi is so low that I don't care what else this guy has to say. The inventor of bitcoin wouldn't "lose the keys" to the origin block. The true Satoshi (if he/she/they is/are still alive) could easily prove his identity. I'm personally in the camp that thinks Hal Finney was Satoshi. Very sad that he took his own life before getting to see how big Bitcoin has become.


And here it is, he says BSV is the real bitcoin. If he's right, he should be ecstatic that people are fooled into thinking BTC is the real bitcoin. People are showing they're willing to pay $40k+ for a REAL bitcoin. BSV is only $110/each right now. He should be buying all of them so that when people realize BSV is the real bitcoin, he'll be rich as hell.

Then he goes on to trash Elon Musk and Michael Saylor. Elon Musk is a genius. Its possible he could get scammed. But he co-founded the startup that became PayPal. He started Tesla/SpaceX/Solar City/Hyperloop/OpenAI/etc. I've listened to him talk for hours on various podcasts. He's eccentric, but undeniably a genius. Way smarter than I could ever hope to be. And he invested in Bitcoin, which is currently very valuable. And I'm supposed to listen to this random dude with no credentials who's pushing BSV?? Sorry, he may even be correct, but unless I'm willing to do enough research to truly understand, I can only go on the facts I know. Elon Musk is a genius winner. This guy, I've never heard of him. I don't believe him. If there's some specific point he makes that you'd like to discuss, I'd take the time to comment on it. But my response is already WAY too long...

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 21, 2022 02:58:02 ago (+0/-0)

I appreciate your response, all of it. I agree with you on some things and disagree with you on others. I think the chance of CW being Satoshi is higher than you may think. Craig has taught the industry many things about bitcoin that only someone who understands it from front to back would be able to know, like bitcoin being turing complete and it being a small world network. Also I disagree that Elon is a genius. I've also watched him speak for hours on podcasts and I've seen nothing that shows me that he has an extremely high level of intelligence. I believe he is smarter than the average person, but not a genius, and if he is one, he sure as fuck doesn't speak like one. Also he didn't create PayPal. Look into it some. From my understanding he essentially did a strategic buyout of the company that became PayPal, and he appointed himself the CEO. He was the CEO for 5 months then was forced to resign, and part of his resignation agreement was that the company would no longer talk about who the creator of the company was and would remove the "about the creator" section on their website. I've heard this was Musks way of making sure the waters were muddied enough that he could continue to claim to be the creator of PayPal with out info that could disprove his claims being g readily available to people. Who knows what is true with that situation, but regardless I have seen no evidence that musk has crazy high intelligence. I've just seen a bunch of people claim that he does. I think his boring company and hyperloop ideas are retarded, and I've yet to see anything else remarkable from him(except some of the spaceX rocket stuff, some of that has been impressive). I don't think musk knows anything about bitcoin or crypto though, and I honestly think that I have a better grasp of the concepts involved than he does(based on what I've heard him say about it).

Another thing about CW being Satoshi. Did you follow the recent lawsuit that CW was part of? I think it is possible that CW is Satoshi, and Ryan Charles is correct, but BTC continues to be the dominant crypto and BSV dies off. Him being Satoshi and BSV losing to BTC could both be true/occur.

I'm going to go watch the videos you posted now.

[ - ] jammicsmith 0 points 2.2 yearsJan 21, 2022 08:02:49 ago (+0/-0)

I haven't researched Musk outside of what I've organically come across over the years, so perhaps you're right. But I don't hold his lack of public speaking against him. I think I'm very intelligent, but I know I sound like a complete moron when forced to speak publicly. That's just not my strength. And I don't think you can give anyone but him credit for Tesla (right?), and that's made him the richest man on the planet, so you've got to at least give him that. I was excited about TSLA when it IPO'd, and its done nothing but impress me since.

I saw that the CW lawsuit happened, but I didn't follow it more than reading the occasional headline. You are correct that him being Satoshi and BSV losing could both be true.

Why now (or circa 2016)? Satoshi invented bitcoin under a pseudonym for a reason. He could have identified himself at any time when he was on the forums (although credential compromise claims could have been made). He could unequivocally identify himself now with private keys to the genesis block (although, hacking claims could be made there also, I guess). Truth is, I guess any argument for someone being Satoshi could be doubted. And I haven't followed it enough to even know what his arguments are. But honestly, I don't think it really matters.

Bitcoin not having a figure head is important. The blockchain can split (BTC/BCH/BSV/...) and people will follow the one they choose to follow. The "core developers" and forum moderators (/r/bitcoin) already have too much influence IMO. If a "Satoshi" was annointed, that would allow a single person to effectively dictate the direction of Bitcoin. Sure, people would still choose, but his opinion would carry so much weight that he would be hard to challenge, even if he was wrong. In true 4chan fashion, everyone is anonymous, ideas stand on their own merit. If Craig is or is not Satoshi, I don't really care. Nobody is stopping him from creating BSV. If that is the "correct" system, it will win out in the end. Stop wasting time and money suing people to have the courts declare you the chosen one, put that energy into putting forth compelling arguments for your vision and influencing the masses.

I'm much more interested in taking the time to go down the rabbit holes on his individual ideas (why is SW or LN bad, what would be better?) than I am in trying to figure out if he's actually Satoshi.

You seem intelligent, I'm open minded - well, sort of. I'm pretty hard headed b/c I've done a ton of research to come to the conclusions I've come to. I'm not going to change my mind by reading the standard arguments from the other side - I've already read those and took those into consideration. But if you present something I haven't seen, or can show me a different way to think about what I've already seen, I'm definitely open to changing my mind. I don't have a vested interest in my current conclusions that would lead me to irrationally support them in the face of a compelling argument against them.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 24, 2022 04:51:57 ago (+0/-0)

Sorry for the late reply. But no, actually, Elon Musk did not create tesla. 2 dudes created the tesla roadster, then went looking for funding, and musk said he would fund them if he could be CEO. I'm telling you man. Much like pretty much everything the msm props up, the dude is a fraud.

Also Craig Wright didn't sue anybody. What happened was is that David Klein, who was an early contributer to bitcoin, died, and when he did, his brother wanted his share of David's bitcoins. He claimed that David Klein and Satoshi had mined the genesis block together, and now he was there to collect Kleins portion of the coins. So he sued CW. The lawsuit was based on the idea that CW really was Satoshi (as Klein truly believed him to be, and do many others), and because Klein helped him, Klein deserved a share of the bitcoins they mined. Well CW won the lawsuit. The suit wasn't to determine if he was Satoshi, it was based on the assumption that he was, and it was to decide whether or not Klein was legally entitled to any of those early coins mined. The jury found that CW alone was Satoshi and therefore he owed Klein nothing. Idk man. I think it I'd very possible CW isn't lying. A lot of the people who were early bitcoin aficionados agree that CW is Satoshi. And if you listen to CW talk about bitcoin, he understands it better than anyone else I've ever seen, and the dude is obviously very intelligent. I too, thought that CW was some sort of loser scammer when I first heard about him, I thought that for a long time, until I strayed away from main stream sources, and investigated the subject for myself.

[ - ] jammicsmith 0 points 2.2 yearsJan 24, 2022 12:19:53 ago (+0/-0)

You say that like its a fact. You may be right, I see the allegations. But I don't know either way. I do know this, the allegation is that Musk kicked out the inventor of Tesla in 2007. Tesla didn't IPO until 2009. From 2009 until 2022, musk was indisputably (or do you contest that also?) at the head of Tesla and led it to a Trillion dollar market cap. You don't luck into being the richest person in the world. He's a genius, whether he's honest or unscrupulous, the man's a genius. I can acknowledge any allegation you present as potentially true, it doesn't change my mind that he's a genius.

For all the allegations about Musk being a conman that you choose to believe, I'm surprised you so easily dismiss all the arguments that CW is a conman. Musk is the richest man in the world, CW, the man who claims to have invented bitcoin - claims he lost his bitcoin private keys... Could all be true, but the absurdity of that statement makes it impossible for me to believe him. There could also be a tea pot floating behind the moon. But its absurd and I'm not going to spend my time investigating it. And also, it doesn't matter... Even if CW is Satoshi, the world has spoken. Bitcoins are 400x more valuable. The white paper states, the longest chain is the "real" bitcoin. If he wanted to claim he was Satoshi in the future, to obtain more influence than his opinions earn on their own, he made a very key strategic mistake by releasing bitcoin under a pseudonym and not retaining any indisputable proof to use in the future (like his private keys). Not very smart IMHO...

I don't care to argue about whether CW is Satoshi. If there's a specific argument CW makes about BSV vs Bitcoin that you'd like to discuss (block size, protocol, whether LN is real bitcoin, etc), I'm happy to have a technical/theoretical discussion about something specific. The only way CW can prove he's Satoshi is to find his keys, until then, I don't care.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 24, 2022 17:42:42 ago (+0/-0)

I didn't see this message until now. Only your last one. I'm not saying Elon isn't a smart guy. Idk that I personally would put him in genius category thoug, but that designation is subjective. I also don't don't that being a genius equates to being successful, and that it often times doesn't.
As far as musk goes, I think he is a savvy investor and a personable guy for a nerd, thats about it, but that and some good funding will take you pretty far it seems.
The CW stuff, I just personally think he makes the most sense for being the most likely candidate of the creator of bitcoin. I do think it matters. I think if it was proven without a shadow of a doubt that he was SN a lot of shit would change, pretty much over night. It just seems to me that a lot of the people that should know, think that CW is SN. And I haven't seen any evidence otherwise. I read a comment once that said CW was like the black swan if the crypto industry and would bring the whole thing down, but instead of being a typical black swan event and being unknown until it occurs, he is known and he is staring the crypto industry in the face. I think that is a bit of a theatric way to look at things but it stuck with me. The implications would be massive. I can see why you say keys or gtfo but I just think shit can be a little more complex than that. Also i don't think he said he lost them, he said he was hacked. But ok. I'll let you be now. Be well.

[ - ] jammicsmith 0 points 2.2 yearsJan 24, 2022 12:30:42 ago (+0/-0)

Also Craig Wright didn't sue anybody

https://www.coindesk.com/markets/2021/02/05/square-led-consortium-challenges-craig-wrights-bitcoin-white-paper-claim/

Who publicly and anonymously releases the Bitcoin whitepaper and then tells people they aren't allowed to host it... that's DAF.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 24, 2022 17:15:32 ago (+0/-0)

He didn't sue COPA. COPA sued him, then dropped the suit, because they realized it wasn't worth fighting for. Check out this interview.

https://youtu.be/8RNYMo6_hrc


And while watching it, think to yourself "is it possible that I've been lied to?... I was lied to and was wrong about Elon, isn't it possible that I could be wrong about this too?"

This guy seems pretty educated on the whole matter, and I think the court cases were the best place to get information from. That is where everyone presents their best case and best evidence. And a lot of good information came out of the legal proceedings.

[ - ] IwuvU 0 points 2.2 yearsJan 17, 2022 17:31:25 ago (+0/-0)

Bitcoin makes all transactions public but it doesn't have to. For example, neither monero nor pirate coin make transactions public.

Crypto will never go mainstream because people are too stupid. But it may increase in value so holding crypto might make sense.

[ - ] jammicsmith 0 points 2.2 yearsJan 18, 2022 19:04:54 ago (+0/-0)

The main network can't support a large enough number of transactions for the public nature of the network to matter. Most transactions will move to the Lightening Network. The public blockchain will enable the citizens to audit the government, while the LN will prevent the government from monitoring the citizens.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 19, 2022 10:07:08 ago (+0/-0)

yeah. that is my #1 concern about mass adoption of crypto in the future. Once all money is some form of digital money, privacy in spending will be a thing of the past.

[ - ] CPU -1 points 2.2 yearsJan 17, 2022 17:04:25 ago (+0/-1)

It's worth having some investment into crypto. I don't trust it as the owners of the central bank print money to buy crypto in order to get a controlling share.

But it still is worth having a some investment into, if your crypto rockets upward, you could sell it in exchange for another crypto, then buy stuff you need with your gains.

[ - ] solomonpapermaster 2 points 2.2 yearsJan 17, 2022 16:43:24 ago (+2/-0)

Never trusted it. If you don't hold it you don't own it.

You want to invest in something of value? Try land, real estate, precious metals, things like that. Things that are real and not just made up numbers.

[ - ] KeepPoal4fags 0 points 2.2 yearsJan 18, 2022 01:29:33 ago (+0/-0)

Completely agree, but I remember the bitcoin hate on old voat like 8 years ago. I did want to buy in a little bit, but it was way more complicated to do so back then. Holy cow the shekels that could have been. Oh well, happy with my metals and all those those guns I lost in the ocean.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 22, 2022 17:04:14 ago (+0/-0)

Those things take a lot more money to get started investing in (maybe not metals). Also the money that can be made from crypto is significantly more than what can be made from those other things, it is at the least easier and faster to make that amount of money from.

[ - ] bosunmoon 2 points 2.2 yearsJan 17, 2022 16:37:40 ago (+2/-0)

It's retarded and gay.

[ - ] NeoNazirite 0 points 2.2 yearsJan 17, 2022 16:37:27 ago (+1/-1)

I've turned a few hundred dollars into several thousands of dollars worth of guns, ammo, tools, Christmas presents, and nights out with friends.

It's a big Jewish scam that works out better than the USD.

I wouldn't keep much more than 10% of net worth in crypto, but when prices are low I usually buy crypto. When they rise, I usually sell and then buy a real asset or have some fun.

It's not hard to not lose money with crypto, just mind your investing fundamentals, keep a cool head, and don't hang on to USD.

[ - ] account deleted by user 0 points 2.2 yearsJan 17, 2022 17:50:17 ago (+0/-0)

account deleted by user

[ - ] NeoNazirite 1 point 2.2 yearsJan 17, 2022 19:33:46 ago (+1/-0)

haven't moved away from crypto.com except for putting some long-hold coins on a Trezor

[ - ] account deleted by user 0 points 2.2 yearsJan 17, 2022 21:03:57 ago (+0/-0)

account deleted by user

[ - ] i_scream_trucks 0 points 2.2 yearsJan 18, 2022 08:10:50 ago (+0/-0)

of all the crypto scams to go with...

youre going with the hollywood one.... that hollywood itself is stating is a scam.

more than a couple of different sources calling out Matt Damon directly on that one (not as the scammer, but as having signed up with scam artists)

in this case its less 'ponzi' and more straight up money theft. Watch for that 'crypto.com stadium' get quietly renamed in the next couple of months....

[ - ] account deleted by user 0 points 2.2 yearsJan 18, 2022 12:00:26 ago (+0/-0)

account deleted by user

[ - ] i_scream_trucks 0 points 2.2 yearsJan 18, 2022 08:06:02 ago (+0/-0)

oh...

broooo...

bro....

are you in for a rough ride soon...

/facepalm

[ - ] NeoNazirite 0 points 2.2 yearsJan 18, 2022 09:08:59 ago (+0/-0)

I can't imagine how. When crypto crashes to zero I doubt I'll be to worried.

I'm not very exposed to any coming doom.

I've only used crypto to multiply my real assets.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 19, 2022 10:01:48 ago (+0/-0)

which ones did you turn the few hundred into a few thousand with?

[ - ] NeoNazirite 0 points 2.2 yearsJan 19, 2022 17:09:53 ago (+0/-0)

Bitcoin, Ethereum, CRO, and Algorand.

My lucky timing with CRO and ALGO is how I got better than 2x

[ - ] Cantaloupe 2 points 2.2 yearsJan 17, 2022 16:36:40 ago (+2/-0)

There are people who have always needed to store value outside of banks. Long before crypto.

Crypto gives you some wiggle room if banks turn off your account or hyper-inflate the currency.

However they may choose to turnoff electricity too, or starve people.

So silver etc. Is helpful. As well as food and ammo

https://www.zerohedge.com/geopolitical/ending-fiat-money-wont-destroy-state


https://www.zerohedge.com/crypto/bitcoin-perfect-option-and-central-banks-will-have-buy

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 19, 2022 10:03:02 ago (+0/-0)

ammo is a great one. It is becoming an increasingly valuable asset.

[ - ] 1Icemonkey 0 points 2.2 yearsJan 17, 2022 16:13:12 ago (+0/-0)

Oh, on another note: the only person I ever have known that did BC got in on the ground level. He was a sales rep of our and he made a million really quick. He got sick with cancer and died not long after. I don’t know what became of his money or account.

[ - ] Incanus 0 points 2.2 yearsJan 17, 2022 16:12:33 ago (+0/-0)

fake and gay, but you might me able to buy a dip and roll more cash into you portfolio from time to time.

[ - ] yesiknow 2 points 2.2 yearsJan 17, 2022 16:10:19 ago (+2/-0)

My interest is in dumping credit cards. There's 2% foe on top of the cost of almost everything for sale on the planet because of those.

The bankers fees on internet purchases is skimming the global economy.

The privacy of cash makes it criminally stupid to give it up and I'd like to choke every Muh technology asshole on earth.

Crypto is created by electricity and we know the jews consider that energy and light and don't want you having any.

[ - ] i_scream_trucks 0 points 2.2 yearsJan 18, 2022 07:57:08 ago (+0/-0)

'is created by electricity'

and heres the rub. ive not yet talked to one person who could explain to me WHAT of value is being produced.

you earn money on the stock market by investing money on companies or products that are worth something.

crypto is money magic, creating nothing from nothing, saying youve got XX of it, then someone else claiming 'well thats worth YY today.

i mean fuck, just how many people were asleep or stoned out of their skull in economics in high school?

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 19, 2022 10:04:46 ago (+0/-0)

yeah I could see us having, like, some sort of energy credits used as money in the future

[ - ] 1Icemonkey 0 points 2.2 yearsJan 17, 2022 16:07:38 ago (+0/-0)

Regarding it “being pushed on us in the future”, I look at it like solar. Eventually I won’t be able to buy a house without it, same as electric cars. I’ll do it when I have no choice, no reason to get in on it while the cost is so high.
I think crypto will go the same way. Eventually it will be required, and therefore cheaper.
Aside from that, if all the money goes to hell overnight, cash and/or crypto, only your food stores, gun, and ammo and tradable goods will be worth a shit. This of course cancels out any value in stupid gold and silver. Unless you can cast bullets out of bullion, none of that will be worth a fuck either.

[ - ] yesiknow 0 points 2.2 yearsJan 17, 2022 16:16:02 ago (+0/-0)

There are paces in North America where solar isn't possible because the Sun rarly shines.

Electric cars are still run on coal and oil and gas.

[ - ] NeoNazirite 0 points 2.2 yearsJan 17, 2022 16:43:36 ago (+0/-0)

If it is ever "required", it will definitely increase in value as cryptocurrencies are largely deflationary.

Limited supply with increased demand can only mean one thing.

[ - ] i_scream_trucks 0 points 2.2 yearsJan 18, 2022 08:12:21 ago (+0/-0)

that no matter how much is available... its still worth nothing.

[ - ] TankTinker 1 point 2.2 yearsJan 17, 2022 15:42:16 ago (+1/-0)*

Those who are trying to make money off of the scheme tell you to obtain Bitcoin in deference to gold or "money in the bank!" Link.

Bitcoin is a Pyramid Scheme.
The Deep State & the NSA Created Bitcoin.
Financial Times: Bitcoin is a Pyramid Scheme.
Bitcoin Cryptocurrency is Scam Pyramid Scheme.
Bitcoin is More Like a Ponzi or a Pyramid Scheme.
Brazil Central Bank Chief Says Bitcoin is a Pyramid Scheme.
JP Morgan Calls Cryptocurrency Markets Pyramid Schemes.

"BitCoin is and always has been worthless it is backed by nothing and has no legal legs to stand on, the only money you can take out of bitcoin is money other people have put in, it is a pyramid scheme by definition and every dollar won is a dollar lost, like all similar schemes it is designed to send the investor broke and to make bundles of cash for whomsoever is at the top." Voat.

Bitcoin is there to separate you from your money .. you can tell ppl they don't want to believe you, the pyramiders got virtually every penny in Albania thru the 1990s, while the government gave the movers and shakers behind the overall scheme every encouragement .. don't think you are too smart to fall for it yr not.

Look where you can spend Bitcoin - If you want to open an account on a video site they will only accept payment in Bitcoin, except as soon as you enter yr banking details on the BC site they have their talons into you and yr financial doom is assured. So that's what they do .. all crypto currencies have the same ends and use the same methods.

[ - ] i_scream_trucks 1 point 2.2 yearsJan 18, 2022 08:04:15 ago (+1/-0)

absolutely.

the original liquidity disappeared years ago. the originators of the scam are off sunning it on a beach somewhere tropical laughing at the first round of victims. First round of victims then realised they had been scammed.... so now have to continue the scam long enough to claw back the money they lost, by convincing new victims..... crypto is worth the money being handed over.

more than a couple of people deciding to cash out quickly ends up with 'wheres muh money man. wheres muh money' and being 'anonymous' and designed to bypass the irs and legal controls.... THERE AINT FUCK ALL YA CAN DO ABOUT IT DUMBASS - that being said, its not anonymous if you can see what went to what account when and who owns the account.

but you cant really accuse crpyto clowns of being intelligent.

[ - ] deleted 0 points 2.2 yearsJan 17, 2022 15:26:21 ago (+1/-1)

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[ - ] localsal 0 points 2.2 yearsJan 17, 2022 17:05:04 ago (+0/-0)

"Love of money" is how the Bible puts it, but yes, the creation of money is definitely evil.

However, bartering is the same as money. What we do as a civilization is to exchange our time and talent for credit in the form of pieces of paper. Same as bartering.

[ - ] Had 5 points 2.2 yearsJan 17, 2022 15:25:26 ago (+6/-1)

Crypto is a decent diversifying tool. It is manipulated as fuck, so don't try to be a day trader. In the long run, it will likely continue to go up substantially until it is regulated heavily. The only real way to get around regulations is for people to exchange crypto directly and stop converting into dollars. They are unlikely to ever block the actual network from existing, which means it would allow us to escape the federal reserve to a certain degree.

This avoids sales and income tax as well if the company is smart because the state government has no system in place to analyze those transactions and link them to people. Of course you get "taxed" for the transaction, but that's akin to paying 2% extra for credit charges because of Visa.

Crypto is the only way to avoid the IRS until you want to turn things back to dollars. But if you never go back to dollars, sales and income tax could become a thing of the past. Especially if we can convince people to use Monero.

Is it manipulated? Yes, but so is the dollar. Competition is always good. People who shit on crypto out of hand are dumb fucks who are mad they missed the train most likely. I got lucky and got into it 10 years ago.

[ - ] natehiggers 3 points 2.2 yearsJan 17, 2022 15:19:26 ago (+3/-0)

Digital ponzi scam

[ - ] localsal 1 point 2.2 yearsJan 17, 2022 15:15:12 ago (+1/-0)

Seems more like an investment scheme than a practical currency.

https://www.techrepublic.com/article/mozilla-stops-accepting-cryptocurrency-wikipedia-may-be-next-are-dominos-falling/

I don't know if I believe the quote that a single bitcoin transaction takes the energy equivalent of 77.8 days for a single house, but there is definitely a lot of energy being used for the blockchain.

I am not a fan of blockchain either, because a lot of the uses hyped for it are not finite, with continual "items" being added and expired. Blockchain seems to work best when there is a finite and constrained set of items - like bitcoin. Using blockchain as a substitute for a database makes zero sense.

The fees and processing time/energy needed for crypto seem to be unrealistic for daily use - hence the rise of investment portfolios.

As with all things digital (including bank accounts) they depend on power, and when power goes away, you are left with nothing. And power will go away someday - either by accident/hacking/attack or by design.

[ - ] Spaceman84 0 points 2.2 yearsJan 17, 2022 21:21:11 ago (+0/-0)

Bitcoin markets itself as a digital store of value, not a currency. Alternative to gold.

[ - ] localsal 0 points 2.2 yearsJan 17, 2022 21:24:29 ago (+0/-0)

I don't disagree with you, but it seems odd, considering it is named "cryptocurrency" and lots of people are saying it is something "to get off the dollar" etc.

[ - ] Spaceman84 0 points 2.2 yearsJan 17, 2022 21:39:21 ago (+0/-0)

At first that was their aspiration but that's much more difficult for legal reasons. Plenty of shitcoins are under government scrutiny for potential legal transgressions. XRP has great potential to be everything Bitcoin and Ethereum were supposed to be, and the feds have been trying to fuck them for years.

[ - ] mikenigger 1 point 2.2 yearsJan 17, 2022 15:05:33 ago (+1/-0)

I may as well be an early adopter and make as much money for myself in the process as possible

too late, NFT's are the current gold rush

[ - ] Had 2 points 2.2 yearsJan 17, 2022 15:14:35 ago (+2/-0)

NFTs are fucking retarded. I have a HUGE amount of crypto, but I will never have anything to do with NFTs. It's an absolute scam and if you get caught holding the bags when the tulip mania ends, you are an absolute retard.

I only have a huge amount of crypto because I got in 10 years ago. I've taken profits along the way to where my DCA is zero.

[ - ] mikenigger 1 point 2.2 yearsJan 17, 2022 15:20:11 ago (+1/-0)

You have to be the one minting them, it costs nothing to create.

[ - ] Had 1 point 2.2 yearsJan 17, 2022 15:40:14 ago (+1/-0)

True, but the price isn't going up due to people minting them. It's the retards who think that NFTs are actual collectibles. It's similar to shit like old MTG cards going through the roof in terms of price, but at least those are physical items that are no longer in print and can be certified as being original. And those are high because of nostalgia and manchildren who have no children of their own and a high amount of disposable income.

Buying an NFT is retarded since I can just screen shot the picture or download the video or whatever it is...and boom, I now "own" it too. There's no sense behind it. It isn't a finite resource since I can literally create millions within about 10 mins of screenshotting and writing a program to duplicate the picture.

[ - ] mikenigger -2 points 2.2 yearsJan 17, 2022 16:28:47 ago (+0/-2)*

They are collectibles and can be certified as original, that's why it's a gold rush. Ownership is not absolute even with physical cards, the copyright for the artwork is still owned by the creator.

You can screenshot an NFT but that's like saying you can photocopy a dollar bill or an MTG card, sure virtual content can be replicated perfectly but it will never be an authentic copy.

Stop with the copium and make some shekels, shalom. ✡️

[ - ] Had 0 points 2.2 yearsJan 17, 2022 18:55:33 ago (+0/-0)

Congrats! You have a certified original copy of something that can be endlessly copied without being able to differentiate the original from the copy!!!! Winning!!!

Crypto would be pointless if I could just copy/paste more money. I can copy your NFT, create a new NFT, and boom, now there are 2 NFTs! At least with physical things like cards and art you can hang the original up in a frame. I don't need to own the copyright to the original artwork on the card. This is stretching things because I think card collecting is pretty fucking retarded as well, but I can at least verify the thing I buy is original and it can't just be copy/pasted into oblivion. I can print and frame your digital art just as easily as you can. And I don't have to pay you shit to do so.

It's fucking retarded. The only time it would be useful is for mega corps if they can implement NFTs on each copy of a movie they sell, and then use embedded NFT hardware verification that only plays the video if your copy can be verified. That is the only direction of that technology that makes sense, and that is probably 20-30 years away since ALL chips will have to use the NFT hardware.

For what you are talking, it is the latest Tulip Mania, and it is nigger tier.

[ - ] mikenigger 0 points 2.2 yearsJan 17, 2022 21:20:06 ago (+0/-0)

You have a certified original copy of something that can be endlessly copied without being able to differentiate the original from the copy!!!!

way to miss the entire point, retard

[ - ] i_scream_trucks 0 points 2.2 yearsJan 18, 2022 08:00:17 ago (+0/-0)

im guessing youre one of the launderers.

NFT is another scam. How do you transfer a million bucks to... say... hunter biden, explain it to the IRS, and not say 'pay for play with my dad'

why you sell completely fucking worthless cheap low effort fingerpaintings at fixed prices to the person youre trying get the money from and give them the cheap low effort worthless fingerpainting 'valued' at $1,000,000

or when it comes to digital NFTS.... little fucking pixel art that took all of 30 seconds to make and your 75 year old meemaw could make herself.

not worth shit.

[ - ] mikenigger 0 points 2.2 yearsJan 18, 2022 08:15:57 ago (+0/-0)

this is why you stay poor, goy

[ - ] Spaceman84 2 points 2.2 yearsJan 17, 2022 21:22:07 ago (+2/-0)

Nigger Faggot Tokens

[ - ] solomonpapermaster 1 point 2.2 yearsJan 17, 2022 18:17:39 ago (+1/-0)

I just read about NFT's. It's fucking retarded, I can't believe people spend money on that.

[ - ] i_scream_trucks 7 points 2.2 yearsJan 17, 2022 15:03:57 ago (+9/-2)*

ponzi scheme backed by retards that think money comes from nowhere.

"BUT IM RICH!"

youre rich on paper. theres a difference. in reality, you own fuck all, bucko. Try and cash out your account and see how long you get the runaround. Or even better, wait until your account is suspended because a different user had their wallet hacked into... or even better again... just wait until the exchange goes under and 'millions of dollars of crypto is missing' (looking at you mt gox)

learn to count cards, its safer and you can see the thug coming to fuck up your day because you got greedy. With crypto is done 'anonymously'

[ - ] germ22 5 points 2.2 yearsJan 17, 2022 15:28:32 ago (+5/-0)

You forgot to ad that the FBI might seize the exchange and keep all your money. Happened to a buddy of mine, he lost a few grand because of it.

[ - ] bonghits4jeebus 1 point 2.2 yearsJan 17, 2022 17:14:02 ago (+1/-0)

Well yeah so an advantage and disadvantage of crypto is that it is not government backed. There's a few more (government-backed) protections in place for money in a bank account, but the the FBI can absolutely seize your money if they think they have a reason. However, if they seized your whole bank, you'd have recourse. They have, however, seized whole collections of safe deposit boxes.


Personally, I don't keep large amounts of crypto around. I treat it like currency, which I also don't keep tons of in cash. NOT treating it like an investment has in theory cost me tons of opportunity as crypto has massively increased in the past 20 years. I'm sure compared to my friends who started in the business early on I look like a retard. But I'm conservative. Little risk; little reward.

[ - ] i_scream_trucks 0 points 2.2 yearsJan 18, 2022 07:49:40 ago (+0/-0)*

there is no advantage in owning fuckloads of imaginary money.

its no different to going two toys r us and stripping the shelves of monopoly boxes. youve got fuckloads of monopoly money, but its utterly useless because it cant be used for anything but monopoly.

anyway, all moot. these crypto clowns cant even explain where the value is. they just keep repeating 'muhblockchains'

"herp derp muh fake fiat money" muh 'fake' fiat money allows me to do shit like.... buy stuff. pay bills. its based on a market backed by products being traded. Crypto makes money by 1. ??? 2. PROFIT! and can be used for..... attempting to cash it out for real money.... or ... thats pretty much it. 'you can b-' you cannot buy anything from any kind of regular retailer that anyone wants to buy from. because its not worth anything.

whats the technology? muh blockchain

how does it work? mmmmmmmm.... muhblockchain.

and how do you access it? blooooooooooooockchaaaaaaaaaaaaaaaaaain.

Oh... and what happens when the power goes out? 'fake' fiat money is still in my wallet, is still legal tender, and can still be used to buy and sell.... when even the eftpos system is down. Crypto.... is utterly useless and inaccessible unless youve got electricity. When the power goes out, you have no funds. Your 'crypto rich' ass just became blackout broke.

[ - ] mikenigger 4 points 2.2 yearsJan 17, 2022 16:30:30 ago (+5/-1)

there's plenty of liquidity in bitcoin, you can cash out $1mil like it's nothing.

[ - ] MichaelStewart 0 points 2.2 yearsJan 17, 2022 16:56:20 ago (+0/-0)

[ - ] bonghits4jeebus 0 points 2.2 yearsJan 17, 2022 17:10:07 ago (+0/-0)

Like 5 posts on there. You can definitely cash out thousands in BTC no problem. I haven't tried millions because I don't have that. You do have to pay taxes.

[ - ] MichaelStewart 0 points 2.2 yearsJan 17, 2022 17:22:53 ago (+0/-0)

What's right is not always what's popular, what's popular is not always what's right.

[ - ] i_scream_trucks 1 point 2.2 yearsJan 18, 2022 07:54:12 ago (+1/-0)

and whats popular is sometimes a complete scam.

like covid

the fyre festival

and the crypto ponzi.

[ - ] BitterVeteran 0 points 2.2 yearsJan 17, 2022 18:36:43 ago (+1/-1)

replace the , with ;

[ - ] rhy 0 points 2.2 yearsJan 24, 2022 17:48:35 ago (+0/-0)

The fuck you do. It's extra work, but I NEVER pay taxes. Ever. Except sales tax or the bullshit at restaurants.

[ - ] UrCoolerOlderBrother [op] 0 points 2.2 yearsJan 21, 2022 02:31:09 ago (+0/-0)

Thanks man

[ - ] IwuvU 2 points 2.2 yearsJan 17, 2022 17:32:45 ago (+2/-0)

Disingenuous argument. Implies it's normal to leave money sitting on an exchange.

[ - ] GeneralDisarray 7 points 2.2 yearsJan 17, 2022 14:58:38 ago (+8/-1)

Xrp will be the faceberg of the crypto world and bitcoin will be the myspace also ran!

Buy a small amount as a hedge. Don't bet the farm.

Do it before the sec case ends.

[ - ] fightknightHERO 1 point 2.2 yearsJan 17, 2022 14:51:41 ago (+1/-0)

Digi-Shekels

some are really meme tier, only Monero has actual anonymity behind it

[ - ] Splooge 0 points 2.2 yearsJan 17, 2022 16:59:56 ago (+0/-0)

But muh cumrocket

https://www.rt.com/usa/525761-cumrocket-musk-crypto/

I couldn't believe this shit when it came out.

[ - ] fightknightHERO 0 points 2.2 yearsJan 18, 2022 03:02:25 ago (+0/-0)

We truly live in a meme world

[ - ] deleted 2 points 2.2 yearsJan 17, 2022 14:49:12 ago (+2/-0)

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