Bitcoin is still early

[fatlittlepig]

FLP behind bitcoin and options, who could have predicted this

Options are “ok” for gambling money. Bitcoin seems to be good for making money.

[billy]

NYT had a great episode on HULU on a teen who stole bitcoin from a crypto investor in the northwest by sim swapping his accounts. Got to keep some of the bitcoin of that one bc he was a minor when he was caught. Then hacked twitter to solicit/phish for more bitcoin. Greed gets criminals every time!

https://www.engadget.com/twitter-hacker-graham-clark-stolen-bitcoin-140234512.html

Not as 100% impenetrable as it seems. Coinbases have been hacked as well in the past year. Yes hackers can do the same with our bank accounts, but at least those are FDIC insured.

That being said, yes, if you invested in bitcoin early, congrats on your investments paying off. But on some reddits/etc there are people saying BTC is guaranteed to increase in value in the next 10 yrs- thats what makes it feel like a bubble/tech stocks/housing market. Granted that's a select group who post there but still...At least here it seems everyone is using play money, so whatever.

[chucki]

The Bitcoin protocol has never been hacked. Exchanges have been.

[chucki]

Panscan -some are saying it's a distraction from a bad Tesla balance sheet and exploding batteries in China. Also, a potential way to extract money from the operations in China.

I don't really know. I guess if Apple gets in the game, I'll feel less squirrely about Elon's participation.

Sometimes there's no conspiracy, secret or distraction and the simplest answer is the answer.

[billy]

The Bitcoin protocol has never been hacked. Exchanges have been.

yes it was the coinbases like some on here use. And personal accounts of those exchanges, which are not insured.

[CordMcNally]

yes it was the coinbases like some on here use. And personal accounts of those exchanges, which are not insured.

They're technically exchanges (I think) and Coinbase is the name of one particular exchange. Coinbase does have insurance against this.

[billy]

They're technically exchanges (I think) and Coinbase is the name of one particular exchange. Coinbase does have insurance against this.

From coinbase:
"This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account."- which is what happened with the sim swap case.

https://help.coinbase.com/en/coinbas...inbase-insured

[CordMcNally]

From coinbase:
"This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account."- which is what happened with the sim swap case

https://help.coinbase.com/en/coinbas...inbase-insured

Right but my bigger concern would be a hack on the actual exchange.

[fatlittlepig]

Can someone explain if GBTC is as good as buying BTC

[CordMcNally]

Can someone explain if GBTC is as good as buying BTC

The G stands for great.

[xraygoggles]

What other crypto assets are people holding besides BTC / ETH? Would be interested to know anything interesting / innovative.

DeFi, my friend. look into it. I would start with the large cap projects, like AAVE SNX REN UNI LINK COMP etc. Those will be the most "stable" (whatever that means in crypto world). But if you want 25x, 50x, 100x, you would need to dive into the small cap projects, 100-200M market caps. I don't give individual names, but I've had a few that have gone 10x in one month, 7x in one day, and many many projects that have 2x, 3x, 4x. It makes sense though: when you invest in a very speculative field (crypto), and then even a more speculative slice (low to mid market cap projects on Ethereum blockchain), you should be handsomely rewarded. You need to put in the time to learn about it, before you invest. Or you could just buy some of the large coins I mentioned above to get a taste. There's also an index coin, DPI, which holds the top 10 I believe.

I'm literally the only person on this entire forum who talks about it, as far as I've seen. The only reason I mention it in this thread is because there's no Ethereum thread, due to lack of knowledge and/or interest. It's a shame.

[xraygoggles]

Can someone explain if GBTC is as good as buying BTC

It's not.

[fatlittlepig]

DeFi, my friend. look into it. I would start with the large cap projects, like AAVE SNX REN UNI LINK COMP etc. Those will be the most "stable" (whatever that means in crypto world). But if you want 25x, 50x, 100x, you would need to dive into the small cap projects, 100-200M market caps. I don't give individual names, but I've had a few that have gone 10x in one month, 7x in one day, and many many projects that have 2x, 3x, 4x. It makes sense though: when you invest in a very speculative field (crypto), and then even a more speculative slice (low to mid market cap projects on Ethereum blockchain), you should be handsomely rewarded. You need to put in the time to learn about it, before you invest. Or you could just buy some of the large coins I mentioned above to get a taste. There's also an index coin, DPI, which holds the top 10 I believe.

I'm literally the only person on this entire forum who talks about it, as far as I've seen. The only reason I mention it in this thread is because there's no Ethereum thread, due to lack of knowledge and/or interest. It's a shame.

I don’t quite understand why there are so many different cryptocurrencies, it seems like one would become dominant so why the need for so many others.

[formerly_cn]

I don’t quite understand why there are so many different cryptocurrencies, it seems like one would become dominant so why the need for so many others.

Speculation, returns, and a few on etherium base have unique use cases etc.

[billy]

I don’t quite understand why there are so many different cryptocurrencies, it seems like one would become dominant so why the need for so many others.

@Cord posted a link earlier in the thread- it explained some of the differences/abilities? in the cryptos