Bitcoin Decrypted

[Conza88]

Bitcoin Decrypted is an introduction to Bitcoin that spans practical, technical, historical, and social-theory perspectives in an integrated narrative. You will not find a better intro in all the internets from an Austro-Libertarian perspective.


Part I

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Part II

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Part III

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The main series page: http://konradsgraf.com/bitcoin-decrypted

 

[Conza88]

It's still early folks.

 

[Brian4Liberty]

It's still early folks.

I wish I would have jumped in when people were first talking about it here.

 

[kpitcher]

I wish I would have jumped in when people were first talking about it here.

Hope no one on the boards jumped into Ripple. One major lawsuit by the US Gov and one of the top crypto currencies is falling to nothing. While ripple has been a centralized entity unlike Bitcoin, it still shows the power the US gov can wield at destroying crypto value.

 

[dannno]

Hope no one on the boards jumped into Ripple. One major lawsuit by the US Gov and one of the top crypto currencies is falling to nothing. While ripple has been a centralized entity unlike Bitcoin, it still shows the power the US gov can wield at destroying crypto value.

I think I have a few thousand dollars worth, but I only spent like $40 on it when I bought in.

 

[Brian4Liberty]

Hope no one on the boards jumped into Ripple. One major lawsuit by the US Gov and one of the top crypto currencies is falling to nothing. While ripple has been a centralized entity unlike Bitcoin, it still shows the power the US gov can wield at destroying crypto value.

From reports, it looks like the SEC wants to regulate Ripple like a security, and not like a currency. And major crypto exchanges have abandoned Ripple to this regulatory attack.

Seems to be a parallel with gold, which is treated as a collectable, and not a currency.

Monopolies don’t like competition, and considering how many dollars are being created, US government actions against competing currencies will probably be shifting into high gear.

 

[kpitcher]

From reports, it looks like the SEC wants to regulate Ripple like a security, and not like a currency. And major crypto exchanges have abandoned Ripple to this regulatory attack.

Seems to be a parallel with gold, which is treated as a collectable, and not a currency.

Monopolies don’t like competition, and considering how many dollars are being created, US government actions against competing currencies will probably be shifting into high gear.

Ripple has always been an odd stepchild of crypto. Not decentralized, sitting on a pile of tokens that the devs get regular chunks of, and their main use case was replacing SWIFT within the banking world. Since they were going in so deep with the banking world I am not surprised they are trying to be regulated like a bank.

Of course with that said we have seen the response to the growing acceptance of any crypto by the world. Gov wanting to limit private wallets in the US, France, and other countries could change the entire landscape. Coinbase going public is going to be a huge IPO, and then they will become one of the accepted new monopolies to allow crypto usage, such as paypal. Trying to force things back into the banker's world.

 

[Conza88]

It's still early folks.

Was $26k USD when I said this, and now $38k USD...

Far earlier to FB friends - $16k AUD and now $50k AUD.

Avoid all shitcoins...

Still early (risk is having to sell), auto dollar cost average for the best gains... set and forget.

 

[Conza88]

Was $26k USD when I said this, and now $38k USD...

Far earlier to FB friends - $16k AUD and now $50k AUD.

Avoid all $#@!coins...

Still early (risk is having to sell), auto dollar cost average for the best gains... set and forget.

$47k USD.

 

[ClaytonB]

$47k USD.

Can you recommend one or two methods for auto-investing? I already have a very small amount but I would like to buy in more regularly, especially since we're below ATH right now.

 

[dannno]

Can you recommend one or two methods for auto-investing? I already have a very small amount but I would like to buy in more regularly, especially since we're below ATH right now.

Robinhood for sure, pretty sure both Coinbase and Gemini, I think most places will do it.

Not sure if you can send your btc from Robinhood, so if you're transferring to a wallet might want to use a regular exchange. Robinhood is probably a pretty safe place to keep it, tho, if you're doing it for investment purposes.

 

[Conza88]

Can you recommend one or two methods for auto-investing? I already have a very small amount but I would like to buy in more regularly, especially since we're below ATH right now.

Bitcoin has nothing to do with investing. It's a savings technology.

Dollar cost averaging is the best method (DCA).

Swam Bitcoin for US, exchange - setting up auto buys (weekly performed best last decade).

Robinhood for sure, pretty sure both Coinbase and Gemini, I think most places will do it.

Not sure if you can send your btc from Robinhood, so if you're transferring to a wallet might want to use a regular exchange. Robinhood is probably a pretty safe place to keep it, tho, if you're doing it for investment purposes.

Avoid coinbase like the plague, as well as Geimini.

Robinhood - absolutely not.

NOT YOUR KEYS, NOT YOUR COINS! - It's drilled into every bitcoiners head for a reason. Any bitcoin on an exchange, ain't yours. Open to getting hacked etc.

Make sure to send to your own wallet (hot - e.g. Blue Wallet), or cold (e.g. Cold Card).

 

[dannno]

Bitcoin has nothing to do with investing. It's a savings technology.

Dollar cost averaging is the best method (DCA).

Swam Bitcoin for US, exchange - setting up auto buys (weekly performed best last decade).



Avoid coinbase like the plague, as well as Geimini.

Robinhood - absolutely not.

NOT YOUR KEYS, NOT YOUR COINS! - It's drilled into every bitcoiners head for a reason. Any bitcoin on an exchange, ain't yours. Open to getting hacked etc.

Make sure to send to your own wallet (hot - e.g. Blue Wallet), or cold (e.g. Cold Card).

Yes, a cold storage wallet is the safest place, especially if you have a lot.

If you're putting in a few hundred bucks a month, at this point, robinhood is probably a better option than keeping it on most exchanges. I think they are insured, plus they are well diversified beyond crypto. But if the system collapses and robinhood goes under, a cold storage would be the best option.

 

[ClaytonB]

Bitcoin has nothing to do with investing. It's a savings technology.

Dollar cost averaging is the best method (DCA).

Swam Bitcoin for US, exchange - setting up auto buys (weekly performed best last decade).

Thanks.

Avoid coinbase like the plague, as well as Geimini.

Robinhood - absolutely not.

NOT YOUR KEYS, NOT YOUR COINS! - It's drilled into every bitcoiners head for a reason. Any bitcoin on an exchange, ain't yours. Open to getting hacked etc.

Make sure to send to your own wallet (hot - e.g. Blue Wallet), or cold (e.g. Cold Card).

 

[Conza88]

Still early