Every day that passes it seems that more and more people "know about bitcoin", but have no idea about key parts of the bitcoin space.
Key parts such as this forum itself...
Or key tools such as Electrum and Ledger.
Even the way they perceive bitcoin is completely sideways. People are too afraid to jump in because it's "too expensive" just to own one. I find that the best way to get new adopters and new investors is to explain the way that this stuff was supposed to evolve over time was made by design.
How do you guys like to explain bitcoin?
I personally like to use the penny/dollar : satoshi/bitcoin example.
One hundred pennies equal one dollar
One hundred million satoshis equal one bitcoin
Right now, one million satoshi's is only 235 dollars...
That's a lot less scary than owning one whole bitcoin, and can make the investor feel good about the position they have in the bitcoin market. Hey! They own an entire hundredth of a bitcoin. Now all they have to do is repeat that same purchase over the course of however much time and they could easily reach one bitcoin. This is especially true if they have a steady, recession proof job.
And don't give me some Darwinism bullshit because yes, survival of the fittest, but also lets get the whole world on this train now instead of later IMO lol.
Bitcoin is like email to the snail mail. The email bring BTC the snail mail being USD 💯. I would honestly just encourage that person who doesn’t know anything about it at all to simply do their research and point them in the right direction, personally I always tell the newbies to read The Bitcoin Standard by Saifedean Ammous |
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I was introduced to LSD but I am more interested in buying Bitcoin first.
Many of my friends told me to use Blockchain wallet but one of them told me that is not a good wallet. He told me to buy a hardware wallet but I don't have money to buy it.
What wallet to use if not Blockchain wallet?
I would always recommend using a ledger cold storage wallet. Only purchase directly from the manufacturer in Paris, France. Avoid storing any of your coins online unless it’s $100 or less |
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Interesting fact. If you visit the Grayscale website you are warned that the issuance of shares in the primary market are currently closed:  If you go to the spreadshseet, you see that the number of outsanding shares has stopped growing since the 24th of June.  Reducing the supply of GBTC shares should help the premium to go up again.  I think it's too early to call if this has been successful, but I can tell you I don't like it: Grayscale is artificially trying to keep the premium elevated, in order to benefit insiders at the expenses of newly entrant. I greatly prefer more "fair" instruments, like the ETP recently launched on Deutsche Boerse. Grayscale halted the sale also in the ETH fund, where the premium has swinged even more vividly during the last weeks. You know I noticed this too. Some 401ks have the ability to do a “Personal Choice” investment option. Transamerica has is, you link that investment option to a Charles Schwab account and that is the work around if you have a Trans 401k but I’m not sure if this option is available in other 401ks. |
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Although I think such discussion should not be in the form. However, I shared the story of one of my friends being cheated.
A friend of mine invested some of his savings in Bitcoin. But unfortunately today his personal wallet got hacked. Balance 00. I was telling my friend how that . My friend said he gets a message on Telegram and gets greedy and enters the link they provide and connects his wallet. After a while he came and saw that his balance was zero.
"Sin of Covetousness and Death in Sin" Like my friend, none of you connect wallets by entering any bad links. No one will be deceived like my friend.
A very sad day for your friend indeed. You should never click on any links from people you don’t know, period. That is like BTC 101. With the scams these days you can’t trust anyone. |
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Hi guys. I made a piece of art that depicts satoshi handing the forum over to theymos. Here it is:  satoshi is the one passing the torch. theymos is kneeling on the moon. Personally, I'm using it as my wallpaper. You guys may use it the same way or any way you like. I'm a newer forum member, having only been on here for a year and some change. I would, however, love to hear what some OG bitcoiners think of this piece. <3 Wow this is really cool man! Great work here looks very interesting. What did you use to create this? |
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The journey for bitcoin hasnt been an easy one but we can all boldly say that its adoption by the world is slowly coming to a realisation. For so long many people have been financially control by the central banks until a man came up with the idea of the decentralized system ( Satoshi nakamoto) which his primary goal was to free the people of the financial entrapment placed by the central banks. Just imagine you are owner of your money but still you will be given and placed conditions on how to use your currency, they monitored and stipulated rules on how your money should be use and when to access to it and even as far as tempering with your money you saved in the banks. It was not until this crisis my country faced @nigeria, that i actually understood the disadvantages of what its meant for your money to be actually controlled by a central system. Million of people couldn't have access to their money due to the laws stated out because of the naira problems. Imagine a situation where you are having millions but can be only offered 20k naira a day, i mean its really frustrating. But hopefully for everyone Bitcoin is growing so fast to counter such financially errors in the system. The meme actually tells the truth, the little write up explains it all. If you fix the money you fixed the world. Am just waiting for the time the last stage on the picture will be achieved, when biction actually conquers the fiat system and decentralization became the next thing. Feel free to Share with us some recent update to achieving this decentralized ecosystem. We are very close to gaining widespread adoption. Things are changing and they are changing very fast. Just the other day the SEC basically ruled every crypto a security EXCEPT Bitcoin 😎 |
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I hopped onto this forum in 2018, I think that was just such an iconic year for crypto because so many people were curious and literally everyone and their mother couldn’t believe something like Bitcoin could run up to 20k in such a short time frame. I believe this left a rippling effect for basically all of 2018 all the way to the end of the bear market where it leveled out at around 3,500 per coin and started going back up from there. Great bar graph you got here! Thanks for sharing.
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Oh I like this, and it’s quite stylish! Anytime you go on dark mode you feel much less strain on the eyes. I may have to put the dark mode on every so often to change things up a bit.
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I only know of one other person on here who got a name change recently as well. If you need to change your name you better have a good reason if you take it all the way to Theymos! In this case for anonymous purposes I can see it as a viable option as opposed to creating a new acct
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@tread93
seems your reading the crap that shows bias towards wanting it to continue
bitcoin is a consent network by default
learn the difference between consent vs the other terms like "permissionless" and "censorship resistance
funny how the link you pick only has content that lean towards the wording that say it cant be stopped and should continue
oh well down that rabbit hole you go, hope it takes you less than a few months to re-surface
by the way adam back is not a big coder, he just employs them. so dont take his word as a coder of possibility. take his words of which direction he is sponsoring his employees to push, pull of not bother with
I think I liked what Casey Rodarmor said, which was basically saying if this is a way to get more people to use BTC, then why wouldn’t we support something like that as bitcoiners? I’m not sure if it’s really beneficial to the network or not, I just briefly skimmed through that article but I do think that there are certain utilities with NFTs and elements of those tokens that could be cool to assign to certain SATs. Idk to me it just sounds kind of cool. |
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Now this is an interesting subject. With AI becoming so advanced so quickly I wonder if it would ever even be possible for something like a crazy powerful AI computer ...
No. Just a flat out no haha love it. Okay well AI can’t get past BTC, the government can’t, is there anything that could possibly ever stop Bitcoin? |
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I see that people are interested in Pokemon cards and I have a few of them. But I don't understand how they are priced. For instance, I have this card but I see a wide range of prices:   The one I have:  I don't see any difference between them. I would appreciate any help. Your best bet is to check Ebay sold comps & also tcgplayer.com for the pricing on slabs as well. Mavin.io is also good. Also, the stark increase is due to the difference in price from a PSA 9 to a PSA 10. Which the 10s tend to fetch a high premium. |
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How many of you are eagerly waiting for the next halving? The number of blocks remaining until halving is 66140. After the upcoming halving, the block rewards would be reduced to 3.125 BTC. At the moment the block reward is 6.25 BTC, which means miners would be earning just half of what they are earning now. At the moment the number of Bitcoin generated per day is 1075 and after the upcoming halving, it will be 537.5. The next bull run should be coming in 2024, I think so as after the previous halving we saw a huge pump. We should start accumulating if you have not or if you are new here and have not invested yet then invest in Bitcoin asap. As always do your own research guys. Thanks for the reminder! Its crazy that the next halving is just over a year away! We are certainly due for a nice bull run around then, one would hope! Keep stacking! Accumulation of SATs is a must in this day and age. |
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Wow, I had no clue about this project, it sounds interesting. Particularly this bit: "The Ordinals protocol enables users to explore, transfer, and receive individual satoshis, which may include unique inscribed data such as videos and images. The process of adding assets to individual satoshis is called inscription. As Rodarmor explains, inscriptions make it possible to put content in a Bitcoin transaction and assign it to a satoshi. Once completed, Rodarmor says, the inscriptions are stored in a Bitcoin transaction’s signature." Found this on another article on decrypt: https://decrypt.co/120250/ordinals-launches-nfts-on-bitcoin-triggers-controversy also the quote below. "One of these projects is Ordinals, and some Bitcoin maximalists are calling it an affront to Bitcoin principles. "you can't stop them" well ofc! bitcoin is designed to be censor resistant. doesn't stop us mildly commenting on the sheer waste and stupidity of an encoding. at least do something efficient. otherwise it's another proof of consumption of block-space thingy. — Adam Back (@adam3us) January 29, 2023 Ordinals creator Casey Rodarmor takes the criticism in stride, saying the controversy helps his cause. “I actually love the haters,” he said. “I mean, they do more to drive people to find out about the project than anybody else. I don’t know what they think when they have these massive audiences, and they go, ‘This is an attack on Bitcoin’—it seems like you don’t want to do that if you don’t want people to use the thing.” " |
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I heard people keep saying don't sell when the price rise a little, or when it starts dropping! I don't get, why are you holding it for long? As long as am concerns is just a matter what you want, long term or short term. Bitcoin is not your Goldsmith or some banks you build at home that you can control anytime you like.
To me bitcoin is there to gives you money when you're satisfied to take the money or take your if can't wait when is dropping. I can't hold for too long is personal or I will never take investment in a short is till personal.
Whether you hold or not what will happen in bitcoin will still happens, is good to hold but too long hell no, because am not the future, future is expectations real life is in the present.
My questions is people keeping bitcoin for too long and begins to hear story?
What's the secret that's different from taking profit?
Is that long term bitcoin don't experience losses?
I think most people HODL their coins because basically they expect it to be worth much more in the future. And thats just it. BTC is so limited I am not sure you quite understand how rare it is compared to the world population. 21 millions coins for 8 billion people. With the halving of the coins making it much harder to mine for will also increase the future price due to supply and demand for BTC. Long term holding is not for the faint of heart. |
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Now this is an interesting subject. With AI becoming so advanced so quickly I wonder if it would ever even be possible for something like a crazy powerful AI computer w/ like unlimited computational power to hack into BTC Core and every system running it to change the code/transactional data? Its so wild even thinking about it, and obviously nearly impossible to do. But does anyone know the exact math or how to run an equation to figure out how advanced a system would need to be to do this? Obviously would need to be a 51% attack or more to achieve this, and I do believe the largest mining pools are run out of China, so largely they would probably need to be on board with something like that, right?
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I know that sounds appalling, but do you think that it is possible that he did that? If he did do that, what exactly could he/they have the ability to change with so many people constantly maintaining Bitcoin core? If something like that was ever a possibility could BTC core developers reverse any changes made or prevent? I guess I’m just curious how many security measures are set in place to prevent things like that from every happening. Could they prevent or reverse a 51% attack as well?
Your fears are groundless. The fact is that so many people would never believe in Bitcoin if its code was unavailable for viewing. Nevertheless, the full project code is posted on github. Programmers of C++, Python and other programming languages have studied every line, thanks to this, understanding how to make other cryptocurrencies has become easier! Therefore, Satoshi is not an attacker, and of course, cannot seize control of Bitcoin. I guess the only thing that could stop it in the future is like this crazy powerful AI that can hack all the computers using bitcoin core all at once to change something? Even that sounds farfetched, but I suppose something like that could happen. Hmmmm now im curious what it would take for that to actually become reality. |
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Hey I’m just asking some simple questions here, is that okay? You may want to refer to my prior comment for more clarity. Thanks.
Given that you got an answer to your question and that any further discussion is redundant, maybe it would be wise to lock the thread? It is usually something that is logical to do in such cases, but unfortunately it is rare to see that possibility being used. Just don't tell me you didn't know that option existed... You're absolutely right Lucius. I'm locking the thread now. Have a good day everyone. |
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I know that sounds appalling, but do you think that it is possible that he did that? If he did do that, what exactly could he/they have the ability to change with so many people constantly maintaining Bitcoin core? If something like that was ever a possibility could BTC core developers reverse any changes made or prevent? I guess I’m just curious how many security measures are set in place to prevent things like that from every happening. Could they prevent or reverse a 51% attack as well?
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