A few questions about bitcoin

[Peter Denis]

6 minutes ago, allanos said:

It is interesting, well . . . boring actually . . .  that those  who know little or nothing about crypto are the first, and the loudest, to disparage it.  Especially so on this forum.

 

For thousands of years, other than barter, some kind of token has been used as a medium of exchange, be it shells, pebbles, metal coins, paper money and so on.

 

Welcome to the digital age!  Bitcoin was created in 2009, so it is only 11 years old.  The surprise is more that it took so long to create, but in a mere blink of the eye compared with the hundreds, if not thousands of years, for some kind of fiat currency to come along.

 

As a historical note, bitcoin was first used as a medium of exchange in May, 2010, when 2 pizzas were bought and paid for with 10 000 bitcoin (worth a few dollars at the time)  Those same bitcoin at today's price would equal around USD $ 90 000 000!

 

For those who do not see that, in this electronic age, digital currencies, like bitcoin and fiat ones as well, like a digital dollar, will be increasingly adopted and continue into the future, they simply lack the necessary vision.

Digital fiat currencies are indeed the future, and they are just like their paper-counterparts based on an obligation to debt.

Bitcoin is not based on such 'debt' and is no more than a long string of numbers/symbols that exist in cyberspace, and your ownership of that string of numbers is confirmed in a digital ledger (blockchain).

But telling that the Bitcoin Emperor has no clothes, is not a popular stance of course.

 

Cryptocurrencies are Digital Version of Children's Play Paper Money.pdf

[allanos]

30 minutes ago, Peter Denis said:

Digital fiat currencies are indeed the future, and they are just like their paper-counterparts based on an obligation to debt.

Bitcoin is not based on such 'debt' and is no more than a long string of numbers/symbols that exist in cyberspace, and your ownership of that string of numbers is confirmed in a digital ledger (blockchain).

But telling that the Bitcoin Emperor has no clothes, is not a popular stance of course.

 

Cryptocurrencies are Digital Version of Children's Play Paper Money.pdf 46.46 kB · 0 downloads

Your points are valid, of course.  But what is also important to note is that the ledger is public, open source or whatever one wants to call it.  Fiat currencies are created by sleight of hand, although your premise that they are faith-based, promissory notes has to be borne in mind.  As stated earlier, no large, modern-day economy, like the US, is about to renege on the wording on the dollar bill.  But governments, like the US, have done strange things in the not-so-distant past, like making gold illegal in 1933, or taking part of it's promise away in 1971 (I think) when the dollar bill could no longer be exchanged for its value in gold or silver.

 

Bitcoin is basically inviolate, because it is not centralised.

[fdsa]

7 hours ago, chicowoodduck said:

Oh my Buddha, still folks around who believe in the Bitcoin.......????????????

Oh my Buddha, still folks around who believe in electricity......????????????

Oh my Buddha, still folks around who believe in air......????????????

One can't touch air or electricity so they do not exist! Rather than beer, because you can touch beer. And taste it, yes.

Much better to drink beer and watch TV rather than learn something about new technology. Who needs new technologies anyway when we have beer and TV?

Edited June 29, 2020 by fdsa

[EdrigoSalvadore]

On 6/16/2020 at 6:43 AM, Antiparovian said:

Invest in a Bitcoin tracker fund. Simple.

 

3 hours ago, Antiparovian said:

Buy into a Bitcoin Tracker Fund. May have to pay about 0.25% commission. But saves a huge amount of hassle.

These two gentlemen are wrong. Do not do this. You should own your own bitcoins, and store them in your own wallet, with a secured seed backup phrase.

Owning bitcoin tracker does not equals owning bitcoins, it is something completely different.

 

I recommend you buy bitcoins on a non-kyc peer-to-peer service such as hodlhodl or bisq.

 

 

Edited June 29, 2020 by EdrigoSalvadore

[Jenkins9039]

On 6/15/2020 at 11:15 AM, Brunolem said:

Is it possible to SAFELY manage (buy, sell, hold, use) bitcoins from a mobile phone?

Buy yourself a ledger.

[how241]

If anyone needs to hold their coins, offline in a hardware wallet, I have a Ledger Nano S for sale- Like new with original box. Perfect condition. Only used a few times. Asking 1,750 baht or near price offer. Free delivery in Pattaya and Jomtien. EMS shipping available to anywhere in Thailand..

[EdrigoSalvadore]

20 hours ago, how241 said:

If anyone needs to hold their coins, offline in a hardware wallet, I have a Ledger Nano S for sale- Like new with original box. Perfect condition. Only used a few times. Asking 1,750 baht or near price offer. Free delivery in Pattaya and Jomtien. EMS shipping available to anywhere in Thailand..

Make sure you don´t use a seed phrase provided by the seller, and make sure to reset the device before you start using it, and write down your seed phrase and password on separate papers, best if laminated without anyone else seeing it.

[how241]

The Ledger website gives instructions to reset the device and make it like new.  You will then  get new-different seed words.  It looked relatively easy to reset the device. 

[innosiem]

if anyone wants to buy a Ledger, DM me
i have 7 nano's and 1 blue no longer being used.
just make me an offer

Ledgers are now only good for crypto
they are useless these days for actual Bitcoin

[Dazinoz]

4 hours ago, innosiem said:

Ledgers are now only good for crypto
they are useless these days for actual Bitcoin

What are you talking about?

 

Bitcoin is crypto and I have may Bitcoin on a Ledger.

[innosiem]

21 minutes ago, Dazinoz said:

What are you talking about?

 

Bitcoin is crypto and I have may Bitcoin on a Ledger.

Bitcoin is a protocol, not a ticker.
seems you got a bit to learn.

i really do not care to have this convo publicly on TVF
its simply not worth my time to educate people,
and i have no desire to convince you or anyone else of anything,
as obviously you already have all the answers you need......????‍♂️

"If you don't believe me or don't get it, I don't have time to try to convince you, sorry"

Hodl, Moon, Lambo....????‍♂️

If anyone does actually have genuine questions, you can DM me.

Edited July 1, 2020 by innosiem

[Dazinoz]

15 minutes ago, innosiem said:

Bitcoin is a protocol, not a ticker.
seems you got a bit to learn.

i really do not care to have this convo publicly on TVF
its simply not worth my time to educate people,
and i have no desire to convince you or anyone else of anything,
as obviously you already have all the answers you need......????‍♂️

"If you don't believe me or don't get it, I don't have time to try to convince you, sorry"

Hodl, Moon, Lambo....????‍♂️

If anyone does actually have genuine questions, you can DM me.

LOL you don't have time but yet you rave on...

[innosiem]

4 minutes ago, Dazinoz said:

LOL you don't have time but yet you rave on...

i stated
"its simply not worth my time to educate people,"
i did not say "i don't have time"
i have plenty of time,
but it is not worth my time to try and educate people that are not willing to listen (such as yourself)

also i did not try to convince you of anything,
i answered your question, but that probably went way over your head....????‍♂️

Edited July 1, 2020 by innosiem

[Dazinoz]

1 minute ago, innosiem said:

i stated
"its simply not worth my time to educate people,"
i did not say "i don't have time"
i have plenty of time,
but it is not worth my time to try and educate people that are not willing to listen (such as yourself)

also i did not try to convince you of anything,
i answered your question, but that probably went way over your head....????‍♂️

Still raving I see.

 

TIme to apply my virus blocker, the Id10t virus.

 

[innosiem]

Just now, Dazinoz said:

Still raving I see.

 

TIme to apply my virus blocker, the Id10t virus.

 

it is called conversing not raving
i am giving you the courtesy of a reply
instead of just ignoring your naive comments

if you do not want a conversation,
why the hell are you posting in a forum?
where it is the norm for people to reply and converse

[how241]

7 hours ago, innosiem said:

Ledgers are now only good for crypto
they are useless these days for actual Bitcoin

Why do you say this ??   I know that the Ledger can hold Bitcoin.   Isn't Bitcoin and crypto  the same thing ?

[Dazinoz]

2 minutes ago, how241 said:

Why do you say this ??   I know that the Ledger can hold Bitcoin.   Isn't Bitcoin and crypto  the same thing ?

Oh oh, you will get same comments I got. Instead of explaining himself I basically got told I knew nothing when i said what you just said.

[techietraveller84]

Some people simply can't control their inner troll.

[innosiem]

On 7/1/2020 at 2:56 PM, how241 said:

Why do you say this ??   I know that the Ledger can hold Bitcoin.   Isn't Bitcoin and crypto  the same thing ?

Bitcoin is a protocol
once you understand why, you will understand my comment
i am not here to convince you of anything, DYOR

bitcoin is NOT crypto
to understand this you must first realize the falsehoods in the term "crypto currency"
again, i am not here to convince you of anything, DYOR

feel free to ask me anything privately, but i will not get into this publicly
as too much cognitive dissonance on TVF

[innosiem]

On 7/1/2020 at 3:00 PM, Dazinoz said:

Oh oh, you will get same comments I got. Instead of explaining himself I basically got told I knew nothing when i said what you just said.

DYOR

i am not here to convince you of anything
when you clearly already have an opinion which you will refuse to budge from (cognitive dissonance) 
as you answered your own question with your following statement
 

Edited July 24, 2020 by innosiem

[how241]

7 minutes ago, innosiem said:

DYOR

i am not here to convince you of anything
when you clearly already have an opinion which you will refuse to budge from (cognitive dissonance) 
 

I won't argue with you or play lawyer type games over the correct English word usage.  For all intents and purposes,  the Ledger I am selling can and will hold Bitcoin(BTC)  and most other crypto coins.  

[innosiem]

33 minutes ago, how241 said:

I won't argue with you or play lawyer type games over the correct English word usage.  For all intents and purposes,  the Ledger I am selling can and will hold Bitcoin(BTC)  and most other crypto coins.  

yes a ledger will hold BTC, i do not deny that
(as you can see i have quite a few ledgers)

however
BitCoin is a protocol, not a ticker
this will become more prevalent over next few years as BitCoin scales (and BTC dies)

again, i am not here to convince people (who just want to argue) you must DYOR
as i am not a financial advisor, and i am not giving financial advice.

"If you don't believe me or don't get it, I don't have time to try to convince you, sorry" - Satoshi Nakamoto 

 

If anyone wants to buy these they are full working
(but useless for actual BitCoin)
fine for BTC and other sh!tcoins,

DM me and make an offer

1 Ledger Blue
7 Ledger nano
1 Trezor


 

Edited July 24, 2020 by innosiem

[anon7854]

Why on earth is this ponzi scheme called bitcoin not being outlawed yet is beyond me.

 

How much money would you want to lose in hope of quick gains? People will never learn.

[Raphael Hythlodaeus]

On 7/24/2020 at 2:40 PM, anon7854 said:

Why on earth is this ponzi scheme called bitcoin not being outlawed yet is beyond me.

 

How much money would you want to lose in hope of quick gains? People will never learn.

Please explain why you think Bitcoin is a Ponzi scheme.