CC

Abysskitten

Most people here are just riffing off the headline. Never change, r/CC. 🤣

goldyluckinblokchain

You were supposed to inverse CC

hiorea

Best part of ETFs was when CC said "IT'S SOARIN' TIME" and halved my portfolio.

hiorea

This means we are a strong community. I see this as an absolute win. Hail CC

LrnFaroeseWthBergur

I drew my proposal in magnetic moon sand on a metal plate. It looked great, better than anything I have made before. Looking forward to hearing if it will arrive. I mailed it to "r/CC: Moon's embassy on Earth".

hiorea

Inverse CC wins again

Not-dat-throwaway

Pay off CC debts and pay off car note, rest goes into mutual fund.

Aussiehash

If past history is anything to go by, there will be a Coldcard Q Mk 2 The original Coldcard Mk1 didn't have buttons at all, and the touch sensors were so sensitive to EMI that you could not use it via USB power from a computer or even via an AC USB brick. You could only really use it powered via battery pack. Each evolution of CC has been a worthy upgrade.

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AllCapNoBrake

I use my Venmo CC for 100% of my spend for their 2x cash back into BTC. When that offer expires, I'll have to find another one.

Abysskitten

OP expecting sympathy in his plight, gets coinshamed instead 🤣 Never change r/CC

Christi0007

Less than CC companies charge vendors. Some people already got ahead of me and went into more detail but yeah L2s rock.

MonsieurGump

It’s been quite sometime since I’ve had such a clear cut “Inverse r/CC” opportunity. Buying today.

Pirate_Goose

I started this a couple years ago. Since the price has gone up, the percentage gains have blown any other CC out of the water.

AvatarOfMomus

It had a paper value of 58 million. That's not the same thing as Reddit having 58 million dollars. Like after the last crash bottomed out someone did the maths and figured out that only about 10% of paper value at the peak of the market was actually successfully extracted. In other words real profit taking in CC is often *much* lower than the paper market value of the tokens.

fan_of_hakiksexydays

I hope the avatar communities can figure out a way to keep them going in case Reddit discontinues them. With CC tokens like Moons, they've been able to work without needing Reddit. There's even a DAO and potential for working outside of Reddit. It might be a little more tricky to get avatars working independently from Reddit,

raymv1987

Isn't inverse CC always a good money play?

AvatarOfMomus

And I'm telling you that criminals don't move large sums of money, think like millions of more of dollars, via cash. They especially don't move large sums of cash internationally. At that point Cash is too clunky, it is literally too heavy, and getting that much cash together in one place is in and of itself traceable because no legitimate entity outside of governments and a *tiny* number of banks in the *world* moves money like that. >But for transfers outside borders also, you just need to pass border security(no need for fake companies, fake id, etc like you mentioned). Like, you're acting like this is super easy, but it's just *not*. As previously noted, if you want to move a billion dollars in cash then you're looking at an 18 wheeler or shipping container full of stacks of bills. Stacks of cash, due to the metalic inks, show up *very well* and *very distinctly* on xray and other forms of imaging, so border security doesn't even need to look inside the container to go "oh, that's full of cash, that's suspicious as hell". Yeah, they won't lose everything they try and ship like that, but they'll lose enough that it'll impose a serious cost, above and beyond the few percent that transferring the money via Tether or Bitcoin or similar. > U.S. Immigration and Customs Enforcement: > Every year, hundreds of people try to smuggle more than $10,000 across U.S. borders in order to avoid reporting requirements. In fiscal year 2013 alone, ICE HSI special agents arrested over 520 individuals who were attempting to smuggle currency and seized more than $59 million in bulk currency or monetary instruments. Yes, it happens, but if you do the math that's about 100k per person in 2013. Also that page is *old*, as evidenced by the 2013 statistic. In otherwords it predates the advent of CC exchanges and the more widespread adoption of crypto, which is what's made it viable for large value international transfers. Also 59 million is not actually that much in the grand scheme of international money laundering. That one crooked CC exchange I linked to earlier processed over a billion in illicit funds. Lastly, what they're talking about is land border cash smuggling in mostly smaller amounts. This only works because the US has a number of land borders, and the cartels in Mexico effectively control their half of the border. It's also because they're mostly taking payment in cash for the drugs they sell, and putting that cash into the banking system in the US itself isn't viable, as it would set off alarm bells with authorities. Basically this is a specific circumstance where cash smuggling is *more* viable, but it's still not how the majority of the money moves. It's the exception that proves the rule here. You're cherry picking your facts and arguments here, and ignoring all the evidence to the contrary. The one thing we agree on here is that CC is going to be more regulated, but the whole reason it's going to be more regulated is *because it's being used for money laundering*. 🤣🤣🤣

PirateSKB

The topic of CC has changed from Germany to Trump

chrisgilesphoto

It's a flight to safety. In times of global insecurity Gold rises, Bitcoin does now too and it lifts the broader CC market in general.

PreparationLoud8790

thats a lot of CC debt

Mr-Pomeroy

Especially since the US is ultimately is one of the easiest places to convert fiat to crypto. anybody that has the means for a financial advisor yet wants to transact with a CC is either an idiot or straight up full of shit.

PirateSKB

https://np.reddit.com/user/TNGSystems Wasn't TNGSystems a mod over here in CC once? His account has been permanently suspended it seems

OK_Renegade

So are we earning moons again here at R/CC?

BabyBoyLittleBoy69

CC would be in the name of the Father, he is an Asian Parent. He would whip his son rather than burn the statements

PirateSKB

It's so rainy outside that I can't leave my house and the CC sub is full of anti-german hate I should play some vidya games

Suspicious_Baby_3500

WHO NEEDS CC’s NON VBV WITH EMAIL ACCESS SHOULD

jawni

The most negative comment about SOL is a reply 3 levels deep, it is the 2nd most upvoted comment in the thread (ironically only slightly behind the comment referencing how much CC hates SOL) and even has more than double the upvotes of the actual post itself. what about this comment section makes you think it doesn't hate SOL?

muddman67

I've just started a role as an Economic crime investigator for a major UK building society and come across alot of crypto scams. However what I struggle to understand is what is the correct way to buy and store purchased coins ect so can you recommend any videos to watch that explains the process of buying/selling and storing CC. Many thanks.

oopssomething

Wow how did you know? Must be part of CC sub lol

Mundane-Farm-4117

They're playing inverse CC. Selling high, tanking the price and buying low. How do we join in?

Rationally-Skeptical

Yes, but between gas fees and price volatility the accepting BTC is not nearly as cheap as it would seem. The 3% on CC's is high, but it's predictable. Again though, if BTC becomes a major form of payment I'd consider that as evidence I was wrong. What would make you think you were wrong about it?

hans7070

Try a different payment method. CC is most expensive and SEPA is least expensive AFAIK.

Fedshmoker

This subreddit is too stupid to discuss a project with the scale of what they are doing. This is just a place now for shillers to shill, bag holders to cry and whales to brag. If you have any brain cells left after the daily discussions here, try reading the white paper for yourself and deciding instead of listening to a clueless bagholder, hater or in general the average r/CC user that only cares about their token and thinks everything else is garbage [https://docs.superintelligence.io/artificial-superintelligence-alliance/artificial-superintelligence-asi-alliance-vision-paper](https://docs.superintelligence.io/artificial-superintelligence-alliance/artificial-superintelligence-asi-alliance-vision-paper)

DoNotGiveEAmoneyPLS

Pretty sure the sub was on SUB hate train when it was pumping. Never doubt inverse r/CC.

FlatulateHealthilyOK

Hence the inverse CC strat

Obvious_Dish4671

You are right. The reason I paid it off is because it was a CC balance transfer that was 0% interest for 1 year (so until sept 2024) and the reason I sold a couple months early was just in case btc price in sept is lower / same price as today. And the sooner I pay off the CC the sooner my credit score recovers

Tasigur1

100% of r/CC are bullish on BTC longterm (this time reverse r/cc is not working he he)

Tasigur1

step 1: do the opposite of r/CC step 2: verify with the classic strategy "reverse Cramer" step 3: endless money glitch step 4: enjoying life => girls, cocaine, Elden Ring hehe

GroundbreakingArt370

I'd rather a passport any day over CC simply for ease of use.

HMallory97

Well the thinking was if I went down this route, from now until October 2025 we are likely to see ATH, by this point I’d be looking at paying off the CC. I guess I wouldn’t be leaving it to the very last month to pay it off.. It’s not something I’m currently doing was just thinking of a way to use the 0% on an asset that appreciates +60% /yr. Likely to not do it, just want to hear peoples thoughts

shadowderp

And if BTC takes a dive just before you have to pay off the CC? What’s your plan, then?

loblaw-bob

CC; security.

bigbarryb

Private keys are 256bits long and have 128bits of security when used in Bitcoin. Seed words provide entropy (randomness), and the source is important. If you generate from a computer, you have pseudorandomness, if the computer has a TRNG chip, it is a bit better, if you use dice rolls it is even better. You start with entropy (eg. dice rolls) and the more you roll, the more entropy you can capture, you can capture as much entropy as you'd like, but ideally you capture more than 128bits of entropy (bits of entropy is subtly different to bits as a size of a number btw). Imagine a dice has a large bias, maybe you use 2 dice in sequence and rotate and one always rolls a 1, that would provide a bias. Then 128 bits of dice rolls is less than 128 bits of entropy because you need to account for the bias. So if you roll more than 128 bits, maybe 200 bits, then you may have enough entropy to account for any suspected biases. Now you have a 200 bits long number, but a private key is 256 bits long, so we need to apply some transformations to it to make it into a 256 bit number. That is the private key. When talking about seed words, we are usually talking about HD wallets. HD wallets actually go through this process: 1. Dice entropy -> 2. Seed words (+ optional passphrase) -> 3. 512bit number (xpriv = private key (256bits) + chaincode (256bits)) Once you have an XPRIV, we then apply a "derivation path" which is a standardised way to tell wallets how to take a private key and a chaincode and convert it into a new unique private key. For example: `m/49'/0'/0'/0/0` tells a wallet a set of indexes to use as part of a derivation function when getting to a given address. We take the Private key + ChainCode + Index and process it to make a new Private key + Chaincode. Then we take the next index and process that with the next PK and CC and so on until we reach the end. We discard the ChainCode at the end, but we are left with a 256 bit private key at the end which we use to create an address. When we want the next address, we just change the last index: `m/49'/0'/0'/0/1`, `m/49'/0'/0'/0/2` etc, Interestingly, if we have the XPUB, which is the chaincode and the public key instead of the private key, we can use the derivation path to generate the public keys for each address which is enough to create addresses but we can't get the private key. That is how watch-only wallets work. :D Hopefully you learned something.

Tasigur1

R/CC is usually wrong, so 40k will happen most likely 😅

Any-Sky-9218

Gotta love the CC subreddit - filled with regards who know all future cycles somehow.

SavingsPurpose7662

A 19 year old that’s in a lot of CC debt is gonna have a hard time getting cleared and staying cleared. Might have gotten away with it 10+ years ago when there was an endless need for cleared military, but things have changed

Elum224

SeedSigner, ColdCard, Passport. These are your friend. You control when you update them (or not) and CC + PP can be used fully airgapped. Never connect them to a computer again!

OverallHearing5

Oh CC, it’s been fun… but I am tired of this bullshit crab and pump and dump market of the last 100 days. I’m really actually ready to take profits and wait for a massive dump again. Wall Street seems to have taken control of bitcoin prices, and by extension, all of crypto. They are responsible for the run up through the ETFs, yet they hold record short positions at the same time. Something just isn’t right. This recent price action is too much coincidence. A perfect pump and dump yesterday morning, and now all the fud and selling happening at the same time…? I am nearly positive this is carefully orchestrated. Because people should be excited, and be buying right now. This 100 days of drop is simply nonsensical. I’ll see you at 54k, or probably never. Good luck degens.

nazuralift89

Cardano's tech has yet to disappoi... Wait hold up what subreddit we on? /r/CC? Apologies, man fucking HOSKINSON ADA is SHIT yo!

Tanikushokutomu

I heard yesterday's crash was because CC decided to restart moons distributions haha. Influential.

CONSOLE_LOAD_LETTER

Imagine the 'Hamster Kombat' app being the killer app that makes crypto take off worldwide. It's fun and games to most of us here, but a reminder that CC Moon distributions back in the day were able to pay for months or years of food and shelter for people in some countries. Stranger things have happened, some even involving hamsters. Anyone tried the app yet? It's free to play/earn from what it sounds like.

Concept-Plastic

Hello Tom, long time no see in CC

Concept-Plastic

Oh hello CC! my old friend.

Select-Difference-10

There's bisq if you want a true successor to localmonero, but people there aren't so interested in transacting small bits (it's usually individual transactions in the hundreds, which I personally dislike). I've also toyed around with platforms like robosats, but I gotta be honest here and say I think robosats is more geared towards people looking to cash out of CC fraud etc than actually do things legitimately Outside of that, I think the best option is kraken+a dex if you don't mind a little bit of KYC, i guess just don't make the mistake I did and use revolut

Raj_UK

Depends if you're bullish or bearish on crypto in the long run Since you're on the CC sub I assume you'll be bullish In which case start accepting BTC and in 10 years time thank your former self #thisisnotfinancialadvice

SuperSan93

I haven’t bought any, just got coins from the grants. But I was up about 1000% until recently. I specifically did it because the consensus of CC is against it and nothing is more bullish than doing the opposite of whatever you guys are shilling.

russbird

Quick addendum to this: got the remaining 3% today. I will make an observation that when this initially went down, I was peeved because Gemini had positioned themselves as a well funded, stable option to some of the wild west platforms out there. I got pretty soundly told off by CC for "not reading the fine print" re how the staking program was being run. I feel a bit of vindication here that Gemini did in fact come through in the end, and although I have moved the majority of my bag onto a Trezor I will continue using Gemini for some purchases. Now I just need to follow my exit strategy, haha.

ConnectAstronaut2639

When it rallies like crazy you can sell 1 CC for 2-3 weeks out for 20k and $400 out of the money. Yes it’s “risky” cause I don’t want my shares called away but if you wait for huge run ups it always reverts.

GabeSter

Sure here’s an example Someone makes a post about Crypto X. People from the community of Crypto X share the post within themselves and people from crypto X come to CC to upvote positive comments and downvote negative comments about crypto X. They also leave comments creating a very biased narrative for Crypto X. The post about Crypto X is now heavily manipulated and will be killed. /R/CryptoCurrency intends to have organic discussion, a post with manipulated comments and votes especially in favor of a specific crypto is not organic. Users are welcome to discuss crypto topics and other cryptos they’re not welcome to manipulate topics about specific cryptos.

Low_Candidate8352

Called the Police ? Get witnesses ? Police can check CC Cameras if you know the vehicle description etc...and then with Police reference you can file to FBI etc & report it ASAP..also..waht you talking about ? $20 , $300, $5000, or $50K+ ? ...otherwise, this is a troll story IMHO.

Pure-Ad-6447

All very good and valid points. I think the main issue with registering for an account is that you are introducing friction to the system, and one of the main points OP mentioned is that you should be able to pay with says from your Lightning wallet globally with ease. Currently, in the case of CC payments that cannot be settled, the bag is held by both the transit operator and the CC company. They have a special agreement for transit whereby the first £10 or so is guaranteed by the card company, with the caveat that if the payment can’t be authorised, then the card goes onto a deny list so that it can no longer be used with that transit operator, at least until the debt is settled. With LN, by removing the dreaded trusted third party, the transit operator is left holding the bag entirely themselves. I get what you’re saying about the LNURL identifier, but what’s to stop someone creating their own LN wallet app that would never settle? Or, if both their device and the terminal are offline, they could pay the lightning invoice with funds that have already been spent (I think? I’m still learning about LN), and then next time they travel just do the same with a newly created wallet (which would have a different identifier). Ultimately, I reckon this problem will be solved by Apple and Google. Transit operators already have the hardware to accept payments via ApplePay and Google wallet, when we reach a point where BTC is more widely held, I imagine that they will provide a way to pay with Sats. And this would apply to all POS, not just transit. The payee could just charge in local currency, and the wallet would handle conversion to Sats. It means that they become the trusted third party, but they are big enough and clever enough to work out a way to minimise any fraud risk :)

PastaArt

Update: Been using the Walmart cards through the app. It is a bit confusing, but you have to select the payment option at checkout if you have multiple cards (CC, DC, or GC). Also, if you need more than just one card, Sam's Club GC's and Walmart GC's are interchangeable. Bonus: Using the Walmart app allows you to buy Sam's Club gas.

Elum224

It's very good. Passport and ColdCard are on a tier above all of the other devices. I would call them "managers" as well as signers. Trezor / Ledger / Bitbox etc are all "simple signers". I've posted about the features of it here: https://old.reddit.com/r/FoundationDevices/comments/1chts8l/foundation_passport_master_of_the_hotwallets/ Overall I would still say the ColdCard is the superior of the two, but only power users are going to get those benefits. Passport is user friendly for newbs, CC is not.

fonaldduck099

I did it ages ago with a coldcard 4 and Sparrow wallet. Creating the keys and the Sparrow wallet wasn't an issue. Problem I ran into was exporting the wallet back to CC and then getting it to recognize the individual keys. Can't recall how I resolved it and eventually decided that there was zero benefits doing it.

RETh5

Seems like a big miss in the 'desirable' category of a CC's features.. Boo

sanskritsquirel

What are the hidden items that show up in my Coinbase wallet? Still learning and noted *have several :hidden" items in my wallet. I am assuming they are spam of some sort?* *Example: ! ETHNA CC* 8,273.00 ACCESS \[ETHNA.CC\] TO CLAIM Y*OUR TOKENS*

Chris_Apex_NC

You can pay use BitPay to pay you credit cards and other bills. You can use BitRefill to buy gift cards. The ultimate strategy is to use Strike to convert your paycheck to BTC. Then use interest free CC debt for daily purchases, rent, etc. Send BTC from Strike to BitPay to pay credit cards, mortgage, etc. This way you’re living on a BTC standard and never expose yourself to currency devaluation. Just watch out for those 80% BTC drawdowns!

HSuke

I was really impressed that there was someone on r/CC this knowledgeable about Kaspa. Usually this sub doesn't get visitors this technical ... about anything. And then I realized that you must Shai (Deshe) Wyborski. Well, it's an honor getting such detailed responses from you. I'm going to take some time to digest them since I am relatively new to Kaspa. **Part 1** > That's patently false. Adding smart-contracts will require rewriting the UTXO layer, and some minor adjustment. All the other main components -- consensus layer, P2P layer, mempool -- remain largely unchanged. I'm guessing that means UTXO-style smart contracts similar to how Ergo and Cardano are doing them? If so, then yes, it wouldn't be too hard since nodes would basically just need to run through the script. > Also, I don't really believe native smart-contracts are necessary. With instant confirmation (we'll dive deep into those further down) you can rapidly settle an L2 with rollups, providing better (and adjustable!) responsiveness than most chains while avoiding a lot of the complexities of validators processing arbitrary code. Personally, I think a rollup is a fine solution. I'm curious how it would design its smart contract execution layer. Is it going to remain UTXO-based (similar to Bitcoin/Cardano/Ergo) or switch to account-based (like EVM)?

jesceyc

I sold about .2 recently to pay down my CC debt and auto loan. It's worth it in the end to prep my credit to buy property. Property has so much real value

Smiling_Jack_

We're getting close to a year since the CC Civil War over .2 Daily multiplier. Hopefully we see more quality drama this year.

TexasBoyz-713

I’ve learned to inverse all CC news, so because of this I will be selling all of my MATIC today.

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NPCmillionaire

If you or someone else has an account with enough CC karma or a CC membership, feel free to post what I typed as a new post. Spent a lot of time on it and then realized I can't post, but I also don't want to make the effort LOL. Depending on the replies, I may jump in with some additional comments on the new post.

FratricideV2

feels bad. I just sold my entire stack to pay off CC debt so I can bump my credit to buy a house in a few months. But im still DCA'ing be weekly. Still sucks though.

Proof_Supermarket_92

Relevant topic for me as I just sold some BTC to pay off CC debt that I had accumulated as a result of house renovations, so figured I'd chime in because I was struggling with the same thing. Everyone has their own preferences, for me peace of mind contributed to it as well. Today's a given, tomorrow's unknown I guess. Could it end up being very expensive renovations? Highly likely, but thankfully I was able to keep most of my BTC. At the end of the day, I want to use my BTC to make my life more comfortable, rather than looking at a number (hopefully) go up on screen. Feels like debt keeps me in the carousel even longer...

postexoduss

It really depends on the interest rate for the debt. Is this CC debt? Is it a house or a car? You are leaving out key information here. If its high interest pay it off with Fiat first and fast. Don't sell your BTC to pay it off. Pay it off with fiat. I'd like to say that fortune favors the bold and you should buy more BTC, financially ignorant people become business owners all the time, some of them successful with dumb luck. Some people win large sums of money at the slot machines too. You might want to go check out r/personalfinance if you are worried about 10k of debt. The key factor is not that you have 10k in debt but that you are worried about it, meaning you are having trouble paying it off. Look up the term debt to income ratio.

JeaninePirrosTaint

Back in the day credit cards treated BTC purchases like anything else. I would max out my CC and sell enough at the end of the month to pay it off. Made about $10k that way before they closed the loophole

RockTheBlockchain

TIL r/CC is like my bedroom.

OccasionalXerophile

Jasmy still roaring ahead, still a strong buy. This sub hates it but apply inverse CC and you'll be golden.

chewiedev

Put $100 on CC, put $600 in BTC. Wait till next year. Sell BTC to pay off credit card, continue buying BTC, you may have more than you think, and you always have the option to keep BTC and pay off credit card in another way

Spirited_Impress5104

CC rate is usually ~20%, and that’s after taxes.

13cryptocrows

I'd transfer the debt to a 0% APR credit card (usually 15-21 months). Invest it all into BTC, pay the min on the CC until the APR comes due, then use BTC profit to pay it off in full. But I am also able to stop using my credit cards and just put them away. If you struggle with spending, this is not the best idea. 

jamesblacklock

Don't even THINK about saving money while you have CC debt. Use every cent to pay off your CC. If you find a penny in a gutter, use it to pay off your CC. Carrying CC debt is the dumbest financial decision one can possibly make. Pay it off and watch your dumbness levels drop to 0.

stringerbell12

You get an allowance and have $7k in CC debt? Maybe get a job?

scabbymonkey

I am a 2/3 - 1/3 guy. Depending on the size of the debt and my willingness to pay it off. Currently I do 2/3 into bitcoin and 1/3 into debt. I also like to purchase Bitcoin into two different amounts for easy bookkeeping so i may make extra debt payments earlier in the month so i can make my specific bitcoin purchase. But if you have $7000.00 in CC debt at 29% like most American rates. I would do 2/3 into debt and 1/3 into bitcoin. I would also say that i am a minimalist so for me investing into bitcoin gives me the same feeling that my daughters describe when buying a new pair of shoes or clothing. So I "reward myself" by buying bitcoin. Also, unless you used the CC for medical or an emergency, you should never have $7K in debt for any other reason. Then get a savings going so that you have a full months of your allowance ready for anything you might use for a CC.

Corbimos

You setup a cold storage and never sent out of it as a test? That is the first mistake here. Always, always send test txns. And always do a test restore from the seed as well. Doesn't help now, but maybe it will help someone else. You should be able to view an unlimited amount of addresses in the CC address explorer. Even export it to a CSV. I would try to reverse engineer the Sparrow wallet cold storage file. See if you selected a different address type or account and you're signing with the wrong one... it should show the fingerprint in Sparrow. Try to match that with the coldcard wallet fingerprint. Maybe you used a passphrase?

godofleet

Ledger has backdoors: [https://decrypt.co/140364/is-there-a-backdoor-in-ledger-hardware-wallets](https://decrypt.co/140364/is-there-a-backdoor-in-ledger-hardware-wallets) Trezor has backdoors: [https://www.coindesk.com/tech/2023/05/24/crypto-security-firm-unciphered-claims-ability-to-physically-hack-trezor-t-wallet/](https://www.coindesk.com/tech/2023/05/24/crypto-security-firm-unciphered-claims-ability-to-physically-hack-trezor-t-wallet/) these are old articles so take w/ a grain of salt but... the point being is that some of these wallet companies that make it "super easy" to store your bitcoin (and in some cases, shitcoins) ... end up creating not-entirely-secure devices... are you 100% sure you can trust that the seed your ledger/trezor has created (and stored) for you is 100% private and unreproducible by anyone else - particularly the engineers/companies who designed them? I linked the "middle ground" security tutorial on CC's website, but consider that you can get so much more security from their "Paranoid" guidance: [https://coldcard.com/docs/paranoid/](https://coldcard.com/docs/paranoid/)

BorgnineTeeth

Who said anything about “til death”? I’m talking like 5-10 yrs. Obviously I don’t have a crystal ball. Anything could happen. BTC *could* be worth significantly less in 5 years than rn. But based on historical trends, the vulnerabilities of the global financial system, basic laws of supply and demand, and a bunch of other reasons that I’m sure are familiar to anyone in this sub, it does t seem like that’s going to be the case to me and many many other people. If it just hit half the market cap of gold it’d be many multiples of its current price. So if you tell me, or most people, that I can spend $100 now or else do nothing at all and wait I dunno 5 years, and then have $700, they’re going to absolutely wait and then spend it. I fully realize people need to eat and live and buy gas or whatever but…they do that with fiat. Very very few people are paid in BTC. So any money they put into BTC is money they have *left over* after rent and groceries and emergency fund, etc (hopefully). That’s what gets spent. That’s what they’re glad to pay a 3% fee on to spend even easier via CC. The OP asked why more people aren’t using BTC and lightning *right now* vs paying CC fees and I’m telling you this is def a major reason why. At least it is for me and most everyone I know who has exposure. I’m gonna spend some BTC, eventually, sure, but none of the money that I’ve put into BTC do I need right this minute. I bought it as a long term investment. That was the whole point. The money I needed to live was already spent to keep me living.

BorgnineTeeth

I think you’re not taking into account the vast difference between a 5% annualized return and a good shot at a 14x in 5-10 yrs. Those are not remotely in the same category. Also, the svg normie already has fiat, it’s what they’re starting with. It’s what they get paid in. So you get your paycheck and you buy the things you need to buy to live (gas, groceries, paying bills, etc) and you prob pay some of that via CC because it can be automated and has buyer protections and you get rewards and hopefully you pay it all off by the end of the month and have balance. Point is, this is living money. Part of your standard cash ebb and flow. But when it comes to BTC most people perceive this as “investing” money, they’re not buying BTC to spend on goods, they took care of those needs with fiat. We can clamor for hyperbitcoinization and the global downfall of fiat all we want but tgat is NOT how your casual newb coming into this rn now is looking at it. They’ve been seeing tales of people making crazy returns every 4 years in the news cycle for more than a decade now. They buy BTC almost exclusively on the hope of “number go up”. I mean spend a week in this sub. How often are you gonna hear the legend of Bitcoin pizza or “man I bought an 8th of weed on Silk Road 9 years ago and that woulda been a car now womp womp”. Nobody wants to be Bitcoin pizza guy (aka the literal meme of bag fumbling). Credit cards still exist because in ceratain regards (with some obvious drawbacks) credit cards are dope and convenient and widespread and require no heavy lifting. Sure they’re centralized the dollar is on a long slow decline but Walmart takes dollars and if I spend enough of them on a CC I’m gonna get a free load of groceries in due time.

redhtbassplyr0311

Because credit is just that, credit. Pay with debt vs paying with cash/assets. Also because people don't pay with Bitcoin vs USD generally speaking. >It's 2.6% for magstrip/NFC/chip which is still pretty outrageous. Why? You're not just paying for a chip/magstrip. Credit card companies issue credit and take the risk. They charge you and merchants for every aspect of their business model, to provide the infrastructure to be a payment processor. > I suspect a lot of it is because retailers have baked the prices in, so consumers don't realize how screwed they are getting My friend has options to pay with CC, cash or BTC and he doesn't lower the price of his goods if people pay with BTC. Almost nobody pays him in BTC, but he just wanted to have the option. Point being lightning network+BTC could be widely adopted and that's not going to make retailers lower their prices. That's an idealistic view to have. Reality is businesses like higher profit margins, and have no reason to lower as long as consumers keep consuming.

threewheeldrive

Dang I was hoping there would be a more direct route since I have a few with partial balances… I feel like I’ve seen a number of posts about people maxing out credit cards to pack their bags - does that mean they’re literally taking a cash advance on their CC to buy crypto? I believe prepaid cards transact as credit cards so I assumed there was a more direct route I was just unaware of… Thanks for your reply, appreciate it

AspiringSAHCatDad

You are living my dream right now OP. I dream of the day I can have no mortgage, car payment, CC, student loans.. congratulations on breaking the debt shackles

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eigentheman

CC debt is basically free, anyway, if you don't need a credit score later on. But there are plenty of ways to take out fiat debt and stack even more BTC with it, while still paying back the fiat on time.

scabbymonkey

There is a balance; i would do 75% debt and 25% investment. being out of debt makes it easier to DCA over long periods and most CC rates are at 29.9%. thats just theft.

philosophicalpango

I’m in a similar boat. No cars tho. I was in at $18k/B so I’m up a lot. But I have 5k in CC pondering paying it off then hoping to Dca back in over the summer.

PunxAlwaysWin45

sounds like you may have just had a bad CC. I havnt heard of one dying before, but I suppose its possible. syncing a new one should bring all your funds back, no worries.

ImKindaNiceSometimes

Good points. So if someone in your own household is attempting a bunch of pin numbers randomly then my BTC is under attack. With that being said I would love to not have my roommate troll me and brick my device obviously lol. I think a good way to prevent this would be to turn on the 2FA with a micro SD card (you can prepare a SD card with the coldcard that is required to be inserted while entering the pin or the CC will delete the seed) AND/OR turn on the setting that requires a set amount of time to pass (without the CC losing power) before you can attempt a login. As far as the random pin creating a random wallet, I was mistaken and I apologize about that. I just attempted a wrong pin and it definitely tells you it's wrong and shows how many attempts you have remaining. The pin always is in two parts: the pin prefix is required then it generates two anti-phishing words by hashing the pin prefix and (I believe) the serial number together. This way if someone provided you with a fake coldcard you could tell (by noticing the anti-phishing words aren't the same as normal) before you give the phishing attack your pin suffix. Turns out there is also a setting where you can have the coldcard wipe the seed and/or brick the device EARLIER than 13 failed attempts. Btw I'm just a happy customer and not sponsored lmao (sponsor me Coinkite)

Gold-Statement-3407

In same boat kind of but my cold card bricked from physical damage, it asks to verify seed on set up that you’ve written it correctly, but I never actually wiped the CC and tested it works, but not much reason it won’t, I get my new CC tomorrow and will recover my wallet with my seed