Bitcoin is still early

[fatlittlepig]

No Hanlon's razor doesn't apply - this was not incompetence - it was straight up larceny & fraud, on an epic scale.

SBF was larping as some heroic crusader swooping in to save illiquid companies - while at the same time using FTX customer's deposits to: gamble with Alamdeda; buy Bahamian penthouses; embezzle into his shady af shell companies (around 3 billy); donate to pols; purchase stadium naming rights; et al.

Not sure if this is true but I heard the bitcoin people were purchasing through ftx wasn’t actually purchased(?)

[NapoleanDynamite]

So what's wrong with buying bitcoin on Robinhood over any other place at this time? Also - how hard to remove said bitcoin from Robinhood into any wallet -- phone app 'hot wallet' or cold storage wallet

?: hot wallet-- these do make you do the pass phrase still, right? And the 12 words have to come from the list of words so cannot be your own phrase like: White Coat Investor Forum Drops Bang Bucks Down Bowling Alley Lifestyle FIRE

Want to do cheap $100 invest just to see how to play around with all this tech and just own a bit of coin

If you really want to just play with it and have a tiny little bit, Download Muun Wallet on your phone. Its a VERY SIMPLE app. After you set up the app which takes a few minutes, you can click the "receive" button. It will show a QR code. Across the top of that screen there will be a toggle button that says "Bitcoin" or "lightning". Toggle to the lightning side and copy/screen shot the QR code. If you post the QR code here, I will send you $10 worth of Bitcoin...instantly. You can then play with that and learn about it. If you lose it, you are out nothing. But the learning process will get you up and going.

And IMO it takes about 100 hours to get a grasp on Bitcoin. Some of that needs to be spent learning monetary/economic theory and some needs to be learning the technology and some on history.

[NapoleanDynamite]

that would basically be the end of Bitcoin forever so you’d be lighting that money on fire. The regulatory hellfire that would result after that kind of fraud would make all of crypto a 0.

what would it take for you to completely abandon Btc forever ?

Bitcoin to zero would pretty much do it. But, IMO the world is a whole heckuva lot better place if Bitcoin succeeds. There are a LOT of people that feel the same way I do. Some call us "psychopaths"...and maybe we are.

But as I have previously stated, as an investment tool I will re-evaluate after 10 years (I'm about 3 years in now) or Bitcoin at zero. For now, the waters remain very choppy...and we haven't even gotten to the governments war against it yet.

[jacoavlu]

If you really want to just play with it and have a tiny little bit, Download Muun Wallet on your phone. Its a VERY SIMPLE app. After you set up the app which takes a few minutes, you can click the "receive" button. It will show a QR code. Across the top of that screen there will be a toggle button that says "Bitcoin" or "lightning". Toggle to the lightning side and copy/screen shot the QR code. If you post the QR code here, I will send you $10 worth of Bitcoin...instantly. You can then play with that and learn about it. If you lose it, you are out nothing. But the learning process will get you up and going.

And IMO it takes about 100 hours to get a grasp on Bitcoin. Some of that needs to be spent learning monetary/economic theory and some needs to be learning the technology and some on history.

Muun is a fine wallet but I don't recommend it for learning because it doesn't use the common BIP39 seed words for wallet backup and I think getting a grasp on fundamentals of self custody is important. Using seed words is by far the most common and easiest to learn about and understand

[jacoavlu]

NapoleanDynamite do you run your own node?

[fatlittlepig]

Bitcoin to zero would pretty much do it. But, IMO the world is a whole heckuva lot better place if Bitcoin succeeds. There are a LOT of people that feel the same way I do. Some call us "psychopaths"...and maybe we are.

But as I have previously stated, as an investment tool I will re-evaluate after 10 years (I'm about 3 years in now) or Bitcoin at zero. For now, the waters remain very choppy...and we haven't even gotten to the governments war against it yet.

I think even the true believers (which I assume you are one of) have to begin to question whether crypto’s aspirations of moving to the mainstream are over.

[NapoleanDynamite]

NapoleanDynamite do you run your own node?

Yes. But I wouldn't recommend starting with that. That is a ways down the line of learning for most people.

[jacoavlu]

I think even the true believers (which I assume you are one of) have to begin to question whether crypto’s aspirations of moving to the mainstream are over.

bitcoin, not crypto. There's a reason people like me say this

price and price talk is largely noise. There's plenty of signal out there

[NapoleanDynamite]

I think even the true believers (which I assume you are one of) have to begin to question whether crypto’s aspirations of moving to the mainstream are over.

I don't conflate "crypto" with "Bitcoin". They are not the same. I have said that for 2.5 years. Crypto is almost entirely trash (if not entirely trash). That has been my assertion from the beginning. "Crypto" believers will fall by the wayside over a long enough time horizon.

"Bitcoiners" or "Bitcoin Maxis" which I would consider myself, do not have any concerns for the long term prospects of Bitcoin. The short term (the next 1-3 years) may not be pretty due to all of the stupid activities of the poopcoiners and the politicians. But on a long enough time horizon, I don't see a future without it. The belief of all of the Bitcoiners that I know has been strengthened and hardened by the activities over the past 6-12 months. Most understand that the fall of crypto is/was an inevitable chasm that had to be crossed to complete the journey.

[Outdoors]

I think even the true believers (which I assume you are one of) have to begin to question whether crypto’s aspirations of moving to the mainstream are over.

Crypto, maybe. Bitcoin, not at all. Many, myself included, been buying more Bitcoin at these prices sub-20k.

The only way for Bitcoin to seriously falter would be for the entire "Western Establishment" of USA / EU / CANZUK / Japan to outright ban Bitcoin exchanges and censor any interaction with Bitcoin wallets, like Trudeau partially tried to do in Canada this year. However, it's physically impossible for them to totally ban Bitcoin entirely unless they turn off the internet, and that would only stop it in Western countries.

As long as you have an emergency fund in dollars, I think it's very reasonable to people to buy more Bitcoin right now.

[StarTrekDoc]

I see Bitcoin like any limited edition item. There's a finite amount of it. Ever.

Will it be a actively tradable transaction media that aspired to with decentralized banking vs more simple tradable.commodity that has value to people because of it's limits? It would be a lot more interesting if Bitcoin was initially paired forever with some visual....like these monkeys nfts and the public ledgers of each Bitcoin is a uniquely generated by x algorithm.

The hard part that Im trying to get around is for limited edition items there is a display ownership kind of psychology behind it. Stamps, coins, dolls, Lego, cars.. what about Bitcoin? Can't display it really.

NapoleanDynamite I may just try it out. See one do one teach one 😍

[Panscan]

Crypto, maybe. Bitcoin, not at all. Many, myself included, been buying more Bitcoin at these prices sub-20k.

The only way for Bitcoin to seriously falter would be for the entire "Western Establishment" of USA / EU / CANZUK / Japan to outright ban Bitcoin exchanges and censor any interaction with Bitcoin wallets, like Trudeau partially tried to do in Canada this year. However, it's physically impossible for them to totally ban Bitcoin entirely unless they turn off the internet, and that would only stop it in Western countries.

As long as you have an emergency fund in dollars, I think it's very reasonable to people to buy more Bitcoin right now.

They can enforce crypto taxation, would make crypto go to near 0 immediately. Would have tons of forced selling to pay tax man.

they can shut down crypto at snap of fingers if so desired

Buy emergency funds in a highly speculative internet coin ! No way

[Panscan]

I see Bitcoin like any limited edition item. There's a finite amount of it. Ever.

Will it be a actively tradable transaction media that aspired to with decentralized banking vs more simple tradable.commodity that has value to people because of it's limits? It would be a lot more interesting if Bitcoin was initially paired forever with some visual....like these monkeys nfts and the public ledgers of each Bitcoin is a uniquely generated by x algorithm.

The hard part that Im trying to get around is for limited edition items there is a display ownership kind of psychology behind it. Stamps, coins, dolls, Lego, cars.. what about Bitcoin? Can't display it really.

NapoleanDynamite I may just try it out. See one do one teach one 😍

there are limited edition baseball cards , it doesn’t mean they are worth anything. This is a really bad argument crypto people make with token burns and etc. the scarcity of something only matters if people need it. There is no intrinsic need for Btc or any crypto.

[jacoavlu]

They can enforce crypto taxation, would make crypto go to near 0 immediately. Would have tons of forced selling to pay tax man.

they can shut down crypto at snap of fingers if so desired

Buy emergency funds in a highly speculative internet coin ! No way

you think they could shut down bitcoin if they wanted to?

[Panscan]

you think they could shut down bitcoin if they wanted to?

In 2 seconds. It suits their needs , a la getting rid of cash and converting everything to traceable, digital ledger.

Created by government