John McAfee is using some sort of black magic to try to justify not eating his own dick.
Seriously wtf is wrong with people? How have all the rubes willing to buy at that price not lost all of their money already? Also interesting that this coincides with Tesla's boom, which is also famously volatile.
Bitcoin and it’s mining aspect have been a disaster for the human race.
Why?
You could use it from Mars, but not mine it there. The network is too fast for how far away Mars is.
Communications to Mars take like 3-21 minutes each way, mining works on finding new blocks every 10 mins on average, so Martian miners will be so late getting a response back that most of the time the Earth network would be several blocks ahead and the Martian solution would be a shorter fork and be discarded.
Mining on the moon would work though.
Yeah, I remember giving advice to a few people with extra cash to buy $100-1000 worth of bitcoin and lock it away on a thumb drive in a safe deposit box and never think about it again until you're forced to. I was like 15 so no one took me seriously, but I got some texts when it got $20k last year from people kicking themselves that they didn't do exactly what I said
I was one click away from buying $400 worth at $3 USD. It's rough but I know I would have 100% sold at like 1k.
A long ass time ago I was reading about bitcoin and it sounded interesting so I set up a Coinbase account. Back then they gave you one cent in Bitcoin just for making an account. I don't know what happened, I think I couldn't figure out how to add funds or something so I didn't buy anything. Several years later when Bitcoin was blowing up again I decided to buy some. I signed into that old account and my one cent was fifteen cents. That was pretty early on still, it's worth more now. I always wonder what would have happened if I had figured out how to buy some back then lol.
Around the last peak of the price of Bitcoin, a buddy of mine found 3 Bitcoin in a wallet on an old laptop he hadn’t opened for years. He’d mined them on work computers after hours.
He then sold them and used the proceeds to buy a disused warehouse in Greece to live in...I’m both envious and amazed that by pure luck and by “expropriating” electricity from his employer he managed to do that. And also aghast that this is even a chain of events that is possible.
same. my coinbase transaction history from back when bitcoin was fresh is extremely depressing to look at. oh well, i was gonna buy drugs anyways, was never going to invest in bitcoin. i was more of a monero person if were to invest but i didn't and that one didn't even work out, so i try to not let this shit bother me. but it is sad to look at sometimes
Don't feel too bad man. I knew about Bitcoin before it had any value at all. I mean, this was before the famous trade where a guy gave 10k Bitcoin for a pizza. I decided to figure out how to mine them (which was very easy to do at the time), but ran into some annoyances with creating a dual boot so I could run mining software on Linux.
This is now a funny story my friends tell strangers at parties every time Bitcoin is brought up. My only solace is knowing I never would've held onto it past 100$ unless I managed to forget I had it for years.
Bitcoin and the stock market is 100% legal gambling. I started a little investing in the stock market recently. It brings the same anxiety gambling does. I hate that I’ve been forced into it because “yoU NEed To InVESt FoR YouR FuTURe.”
"investing for the future" should be an index fund of the biggest stocks that you don't touch for 40 years. If anyone tells you otherwise, they're selling something
I think it's reasonable to have like 5% of your portfolio in hedges against the stock market like gold or bitcoin or REITs or bonds or whatever.
Why hedge there when you can buy far dated puts on a stupidly overpriced ipo like doordash. These companies that have demonstrably terrible business models that are propped up by vc money are going to crash hard if it all comes tumbling down AND betting on doordash losing value is likely just a sure bet regardless. It's a safe bet either way. This is the way I'm choosing to hedge my portfolio right now
That's actually a pretty good strategy. Food delivery and the gig economy is entirely unsustainable imo. I love how it's been revealed that Uber is basically a money laundering scheme for the House of Saud and nobody cares.
The only use for Bitcoin besides gambling is buying illegal drugs on the dark web
To be fair, it has also been used by Venezuela to circumvent sanctions.
I think that is actually one of the things driving the price up. I guess that's good for Venezuela? Spending BTC makes their money more valuable for a while lol
But the thing is that drugs are cool. Child porn not so much
Just curious, how do you sell them, personally? Do you use an exchange or sell directly to other people in your area? I have heard that places like coinbase are blocking people from pulling out by delaying transactions, which is something I heard also about other exchanges the last time the price spiked
IF I still have my password on my old computer, I would potentially have access to like 0.3 BTC that I got from a website for "watching" ads for fractions of coins and a Bitcoin faucet to promote bitcoin back in like 2013. Would it even be possible to "pull out" now?
Thanks for the reply man. If I still have the pw written down, it's on my old netbook in an Electrum wallet
in my head only 1 person buys or sells any bitcoin within a given month, and the entire thing is just a machine to fuck that person over as hard as possible. A bunch of fake numbers that mean nothing and an inexplicably gigantic advertising apparatus to convince people to stick their money in a chute labeled "might make u rich!" that just deposits that money directly into a billionaire's vault
Bitcoin is the biggest proof money is fake. People are buying it because people are buying it. Now it’s just money that’s harder to spend, but is actually appreciating in value than losing it.
OHohHoO look at this guy! He owns a number! Wow! Look at you Mr. Fancy Pants laying claim to a hypothetical mathematical construct!
(But for real, the people who really won are the ones who couldn't convert their money into hard cash which is rarely good people)
venture capital dorks jacking themselves off after a coke binge
The value of the US Dollar go brrr.
Since the pandemic, US Dollar is down:
- 80% relative to Bitcoin
- 10% relative to China's RMB
- 20% relative to Gold
- 66% relative to Lumber
- 40% relative to Soybeans
so the rubes who fall for that "send 1 bitcoin we'll send back 2" scam by Elon Husk impersonators are losing FORTY GRAND?
ahahahahahaahahahahaha
Don't kid yourself, the fact that you didn't means that if you did, you would have sold them at a normal price, like 10x or 20x. Still a good take, but only really special morons hold an investment like that for a decade.
<Presenting my clay tablet receipt for a wagon of turnips> : One hundred trillion dollars, please.
When I was in college, I bought 13ish bitcoins for $80. Promptly forgot about it for a couple years.
Then I tried to cash out when it was worth around 10k total. Only problem... I had them on Mt. Gox, the exchange that shit itself and everyone lost their coins. End result... down $80 instead of up 10k or whatever ungodly sum they would be worth had I sold later. So anyone with regrets, yeah you're not alone.
i used to tip 1/2 and 1/4 btc on silk road to cool, friendly vendors. i could have kept that shit but i was having a good time. i also think i had a wallet with maybe 0.7 btc in it that i basically lost.
Same I had a wallet back in 2015 when I was 17 that I used to buy LSD off one of the darknet markets that replaced Silk Road. I had like .08 BTC left on it but I wiped the hard drive and burned the wallet recovery code on the off chance some feds might've come after me.
ugggh... yeah paranoia was justified. i think i may have done something similar when SR went down. i just casually swapped into a new PC and lost the old drive. found it years later and i tried to recover my wallet at some point but needed to download the entire bitcoin ledger and it was running like 400 gigs at the time and i didn't have the money for a 500 gig drive lol. now it's gone. might have also had some btc in my SR account. oh and i think i had a bit in mtgox when it got "robbed". lol lol fucking was not meant to have it.
The Great Depression but it's only guys who buy high-end graphics cards
