running bitcoin

[therealnickb]

The parallel in his comment refers to the USD being fiat, backed by nothing, unlike bitcoin.

Now to your question, bitcoin is a global technology, so this is like asking, what's the GDP of the internet? There is no link between the two.

Furthermore, when individual countries GDP falls, or mass inflation is expected to occur, it would be wise for those who will be impacted to consider a non-correlated store of value to protect their wealth; bitcoin offers that.

Does your back hurt after that inversion?

[easyrider123]

There is a section in the OP with bold + underlined, Exchange Risk:
You clearly did not read it.

There is also a section in the OP with bold + underlined, Isn't Bitcoin just for criminals? You clearly did not read this either.

To be clear, there is no one "at" Bitcoin. It's not a company, it belongs to no country, and it cannot be seized from anyone who manages their private keys.

As far as being sued by the fed, I'm not sure what you were trying to say by this. Also, unclear about losing more than 100% of your investment.

As far as it being related to Bre-X, this is a good comparison to derivates which involves counter-party risk. Anything that does not include actually taking ownership of the asset itself should cause concern. Take the silver market for example, you can purchase a paper contract saying that you own silver, but that doesn't necessarily mean that the company who sold you that contract has the physical silver. This means, if everyone who holds those contracts redeemed them at the same time, it would prove that the issuing company was over-leveraged, which shouldn't ever happen. You should not buy paper contracts of bitcoin and if you do, you should not confuse this with actually owning bitcoin.

[easyrider123]

Does your back hurt after that inversion?

If you're trying to sell me your Acorn 130 Chairlift, I'm not interested...

[CessnaDriver]

I just have a little bit for fun. I need litecoin to go back up!

[therealnickb]

If you're trying to sell me your Acorn 130 Chairlift, I'm not interested...

Nice. It belonged to my dad. He died 02-05-2019.

[easyrider123]

I just have a little bit for fun. I need litecoin to go back up!

It's likely a rising tide will lift all boats. That said, have an exit strategy and don't be afraid to cut some losses. I doubt it will achieve a new all time high. Bitcoin is the king of the jungle.

[HUTCH 7.62]

I thought Bitcoin was for Commies?

[CessnaDriver]

I thought Bitcoin was for Commies?

It's for buying full auto weapons, cocaine and hand grenades on the dark web.

Or so I'm told.

[MrFancyPants]

Those that trust bitcoin ignore those who lost 100% when an exchange hiccuped.

Ask all those people who lost their crypto if they were storing their crypto on an internet exchange (insecure) as opposed to their own wallet (secure). I bet you 100% of them say yes.

Sent from my SM-N960U using Tapatalk

[easyrider123]

Ask all those people who lost their crypto if they were storing their crypto on an internet exchange (insecure) as opposed to their own wallet (secure). I bet you 100% of them say yes.

Sent from my SM-N960U using Tapatalk

Facts. They can't lose your coins if they don't have your coins.
Exchanges have developed significantly from where they were to where they are now, I'm still not a fan.

[billofrights]

I really don't see the point of this thread. If you're here to evangelize crypto, bitcoin is the worst. Mining isn't worth it, transactions take forever, and it's old tech. There's much better coins out there to mine.

[easyrider123]

I really don't see the point of this thread. If you're here to evangelize crypto, bitcoin is the worst. Mining isn't worth it, transactions take forever, and it's old tech. There's much better coins out there to mine.

This was addressed in the first sentence of the thread.

As for your comments, why is bitcoin the worst? This is a very minority belief so it would warrant an explanation, which again, is literally the purpose of the thread.

Also, nobody advocated personal mining.

As for transaction speed, in the current environment there is not a problem as no one really uses it for in-person retail payments.. Where are you standing in line trying to spend your bitcoin? Or, in what format are you having a problem with it's speed currently?

Regarding it's tech, are you developing smart contracts or seeking to do private transactions like zksnarks? Otherwise, what issue are you having with it's tech? It's trading volume is only second to Tether, which is a stable coin that all other coins are trading into... the liquidity is phenomenal...

As for personal mining of alt coins, which no one is talking about (you're introducing this into the discussion), what coins and why do you recommend them? It's really, a quite silly thing to say but I'm open to hearing you out if you have any explanation.

You made five warrantless claims, provided zero reasoning and overlooked the entire purpose of the thread. Congratulations.

[vino68]

Using CPU is far less effective then using GPU for mining.

[easyrider123]

Using CPU is far less effective then using GPU for mining.

This is true, especially as it becomes increasingly difficult to mine.
The demand for GPU's for mining disrupted the market as retailers couldn't keep anything in stock, which led to the price rising, which unfortunately affected everyone else in the world who just wanted a GPU for all other reasons hahaha

[easyrider123]

Several years too late to be profitable.

10% gain in the following 6 days from this comment.