Bitcoin is still early

[docnews]

Bitcoin would be a nonsensical answer to the question you’re asking

Yes. It's saying you don't believe in proof of stake but still believe in crypto over dollars.

[jacoavlu]

Yes. It's saying you don't believe in proof of stake but still believe in crypto over dollars.

well there is zero chance any proof of stake token is supplanting USD. you realize those are tokens / securities issued by identifiable people / companies.

you can go see pictures from like last week of charles hoskensen sitting with some ethiopian gov people or something shilling his shitcoin to them.

same for vitalek from several years ago

and where are edward snowden and julian assange?

anyone thinks such a token is replacing USD is ngmi

and i’m not one of these orange kool aid drinking people that think bitcoin is curing cancer and sending us to mars.

there is a reality where bitcoin and many shitcoins keep growing and USD doesn’t go away

[nycEMMD]

In a perfect world the crpyto market crashes with the stock market at some point. This includes bitcoin. Then bitcoin rebounds while many of the other currencies don't. this would be a great time to get in for me. I'm ok with living with the fact I missed out on bitcoin though...

I think waiting is a mistake. Next stock market crash might not come for another 10 years, by that time, whatever you think the lowest value BTC can go down to is going to be multiples of today's price

[nycEMMD]

I understand why people think it's a bubble or see it just as a lucky trade -- it's a function of the mainstream media (CNBC/Bloomberg) that survives on the fiat system that has been in place and successful for centuries. Also, there has been so much FUD about BTC, that the average person is programmed to hate it. I know many people see BTC fans as crypto bros, casino gamblers/speculators, or idiots who have no idea what they are doing. This couldn't be further from the truth. Like most here, I am risk averse and very careful about my investments. I encourage you do to the homework and come to your own conclusions -- I have spent 1000s of hours researching the topic and it has only strengthened my belief about BTC. I couldn't be more bullish.

Agree with everything you said. It's a constant rotation of Nic Carter's FUD dice on CNBC. That's how we know it's still a good time to buy. Always remember that CNBC and Bloomberg will publish stories that create FUD in order to allow their institutional investor backers to get into an asset at a lower price.

This is literally a no brainer, more and more companies will continue to add BTC to their balance sheet, more countries will adopt it as legal tender (starting with the ones that are currently using the USD as their national currency and are getting the short end of the stick from the US govt money printer), more people will invest in it and even though this is less and less of a problem, some BTC will continue to be lost forever (saw a recent story about some guy that sent $500k of wrapped BTC to his BTC wallet thinking it wound unwrap, smh). Set (actually decreasing) supply, increasing demand, it's not that hard

Stock to flow has us at $109k btc by the end of year, still haven't made it anywhere past the middle band of the rainbow chart during this bull run, keep accumulating over the next 4 years, retire end of 2025, can't get easier than this

[CordMcNally]

well there is zero chance any proof of stake token is supplanting USD. you realize those are tokens / securities issued by identifiable people / companies.

you can go see pictures from like last week of charles hoskensen sitting with some ethiopian gov people or something shilling his shitcoin to them.

same for vitalek from several years ago

and where are edward snowden and julian assange?

anyone thinks such a token is replacing USD is ngmi

and i’m not one of these orange kool aid drinking people that think bitcoin is curing cancer and sending us to mars.

there is a reality where bitcoin and many shitcoins keep growing and USD doesn’t go away

Which coins are you currently invested in?

[jacoavlu]

Which coins are you currently invested in?

bitcoin

[docnews]

well there is zero chance any proof of stake token is supplanting USD. you realize those are tokens / securities issued by identifiable people / companies.

you can go see pictures from like last week of charles hoskensen sitting with some ethiopian gov people or something shilling his shitcoin to them.

same for vitalek from several years ago

and where are edward snowden and julian assange?

anyone thinks such a token is replacing USD is ngmi

and i’m not one of these orange kool aid drinking people that think bitcoin is curing cancer and sending us to mars.

there is a reality where bitcoin and many shitcoins keep growing and USD doesn’t go away

Valid point about identifiable leaders but Vitalek and Hoskensen cannot shutdown their own projects at this point. After the ICO regulatory squeeze after 2017-18 mania I thought no new main chains would go very far. But DOT and SOL are new and reached about $50 billion market caps.

I'm not sure where I stand on these debates. But some bitcoiners really think it can supplant some major fiat. And some ethers think it can flip btc. And some DOTs/SOLs/ADAs think they can flip eth. I think it's clear that btc has proof of work dominance with eth moving away from it. Proof of stake removes some simplicity/security for scalability so it seems more competitive in nature.

[Sampter]

I have spent 1000s of hours researching the topic and it has only strengthened my belief about BTC. I couldn't be more bullish.

1000 hours = 25 40 hour work weeks. So you have spent more than 25 full time weeks researching Bitcoin?

[jacoavlu]

Valid point about identifiable leaders but Vitalek and Hoskensen cannot shutdown their own projects at this point. After the ICO regulatory squeeze after 2017-18 mania I thought no new main chains would go very far. But DOT and SOL are new and reached about $50 billion market caps.

I'm not sure where I stand on these debates. But some bitcoiners really think it can supplant some major fiat. And some ethers think it can flip btc. And some DOTs/SOLs/ADAs think they can flip eth. I think it's clear that btc has proof of work dominance with eth moving away from it. Proof of stake removes some simplicity/security for scalability so it seems more competitive in nature.

i’m not much interested in these other coins. they’re basically tech startups. some will succeed and many will fail. i think many will be deemed by SEC to be unregistered securities. this will cause some turmoil but that doesn’t mean projects will fail. but i don’t invest in individual companies and so i don’t have interest in these tokens

[Lordosis]

1000 hours = 25 40 hour work weeks. So you have spent more than 25 full time weeks researching Bitcoin?

That is well over 100K to a lowly PCP like myself.

Just think of the opportunity cost!!!

[jacoavlu]

i wonder if more wci people might be interested in bitcoin if they knew about home bitcoin mining and it’s related income and qualified joint ventures…..

[nycEMMD]

i wonder if more wci people might be interested in bitcoin if they knew about home bitcoin mining and it’s related income and qualified joint ventures…..

I'm doing this both as a single member LLC (just for myself) and as part of a multiple member LLC with some residency friends. Scaling up has been faster than expected, got lucky a few times on the Newegg shuffle . Without luck, GPUs would have been more expensive so days-to-breakeven would have approached close to 300 days on some cards. It's profitable no matter what, deduct electricity, deduct home office space. Also deduct cost of equipment using depreciation over several years

But again, it all comes down to education. All the no-coiners here aren't willing to do the basic research required to get a better understanding of bitcoin (and crypto in general) so they'll never get into the mining part

[jacoavlu]

I'm doing this both as a single member LLC (just for myself) and as part of a multiple member LLC with some residency friends. Scaling up has been faster than expected, got lucky a few times on the Newegg shuffle . Without luck, GPUs would have been more expensive so days-to-breakeven would have approached close to 300 days on some cards. It's profitable no matter what, deduct electricity, deduct home office space. Also deduct cost of equipment using depreciation over several years

But again, it all comes down to education. All the no-coiners here aren't willing to do the basic research required to get a better understanding of bitcoin (and crypto in general) so they'll never get into the mining part

no one is profitably mining bitcoin with GPUs

[xraygoggles]

Poll: who will win the proof of stake design challenge?

1) ETH 2.0: transition will go smoothly.
2) ADA: methodical research will pay off.
3) SOL: proof of history is needed.
4) DOT: parachains make sense.
5) BTC: proof of work still works.
6) USD: love my printed dollars.

Need more deep conversations on topics like this...

ETH most likely will be the dominant PoS chain assuming all the improvements go well in 2022, with some market share going towards SOL and DOT. ADA I am not a big fan of - they are all talk with nothing to show for it really.

[xraygoggles]

retire end of 2025, can't get easier than this

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