LOT

Alt123Acct

🚨🚨 BITCOIN HAS COLLAPSED. FINANCIAL SYSTEM IN JEOPARDY. 🚨🚨     Bitcoin just dropped $3. THAT’S A WHOLE 0.003% OR WHATEVER.     THE CHART IS RED. THE VIBES ARE WORSE. 🚨     SELL YOUR HOUSE. SELL YOUR CAR. SELL YOUR CLOTHES.     SELL YOUR WIFE. (She’s probably already in a 100x leveraged short.)     The institutional investors are panicking. Whales are crying. Satoshi has been spotted updating his résumé on LinkedIn.     My $47 portfolio is down $0.14. I WILL NEVER RECOVER FROM THIS.     🚨 EMERGENCY FED MEETING AT WENDY’S PARKING LOT IN 10 MINUTES.     If BTC drops another $2, we’re reverting to a barter economy. Start stockpiling canned beans and USB-C cables.     IT WAS AN HONOR LOSING MONEY WITH YOU ALL. 🫡📉     #Bitcoin #BTC #CryptoCrash #HODL #WeAreSoBack

NiagaraBTC

Or a LOT more people are running bitaxes.

sammyzenith

BEST ADVICe - Think this as Tuition fee, I lost a LOT of money In my first business that people should point at me and say, "This guy is a failure," they used to hurt me very badly. But second business, I had to jump over a bankrupt business and overturn it and take it to profit in really grueling circumstances. If the first business did not teach me the principles, I wouldn't have made it. Second business.

Due-Candy-8929

It is NOT backed by energy… it took a LOT of energy to mine… the energy isn't preserved and doesn't add any value to it… it is slow, expensive and has less utility than a lot of other crypto. However it does have first mover advantage and is likely to hit a new ATH before alts start to run

MobilePenguins

A billionaire who’s 100 years old would gladly trade places with the 20 year old without a nickel to his name. Wealth is more than a number in your bank account. Do you have parents who love you? Family? A place to sleep at night? What about good health, access to clean food and water, electricity, heating? I also compare myself as a middle class American to people in countries that live in slums and all manner of terrible living. Suddenly having a bitcoin or not doesn’t matter. When I was younger like 16 to early 20’s I cared a LOT about money. Never made a whole bunch but my bills got paid. Now I’m my late 20’s nearing 30, I care much more about spending time with my mom, grandmother, taking my gf out to places, reading books, enjoying life, taking in a nice sunset. All those things are ‘wealth’ to me.

Falkenmond79

BTW gave me an idea. I’m an IT guy and have a LOT of unused hardware lying around. Just looked into buying one of these toy steam engines. I think I will build one and try to heat it via a cpu. A cpu generates about 70W, so even if that system is only 10% efficient, it could generate enough electricity to charge a phone. 🤣

rezivor

The money is probably gone and he wants to try and make it back from a new investment he has made now, hoping the price goes up A LOT.

MinimalGravitas

> Tom controls a LOT of validators and thus can be coerced into not allowing ETH transactions from a blacklist. At the height of the Tornado Cash drama a couple of years ago when they were added to the OFAC sanction list about 80% of all validators were censoring transactions using Tornado's smart contracts... but all that means is that TC transaction took on average 5 blocks to be included onchain. Ethereum blocks/slots are 12 seconds so 5 blocks meant 60 seconds to get a transaction through when 80% of all validators were censoring. No one would notice if Tom Lee's ~5% of validators tried blocking anything, it would mean a 1/20 chance of having to wait an extra 12 seconds... > Witness the 2 week waiting line to unstake from Metamask. Literally nothing to do with validators censoring or anything remotely relevant to your point. > A small miner is surely much easier to build than a small ETH validator, Last I checked you're getting into the millions to setup an ETH validator. A fully solo Ethereum validator requires 32 ETH to be staked. For that to cost ***"into the millions"*** the price of ETH would need to have been $31,250 ($1,000,000 / 32). Hardware costs are negligible, my validator cost me just under $400. Admittedly that was long before the price of RAM increased, so maybe say $600 today? Add the price of 32 ETH and that's about $87k for a full solo validator, building your own blocks as you see fit. You pointed out that for someone to mine Bitcoin they effectively need to be part of a pool, so not building their own blocks, just adding whatever transactions the pool operator decides. If we want a fair comparison then lets consider an Ethereum validator that can be part of a 'pool'. Rocketpool allows the operation of 'minipools', where the person running the validator contributes 8 ETH of their own and the other 24 ETH comes from a 'pool' of ETH from rETH LST holders. You still get to decide the transaction inclusion rules and build the block yourself, but now the cost to set up is down to about $22k. Then there is 'Distributed Validator Technology', through systems like Obal or Lido's DVT. There a group of operators all run nodes that a validator with the required 32 ETH is split between. In effect you are running a pool across the group, typically with about 10 operators contributing about 3.2 ETH each, so about $9k including hardware. If you 'checked' and found it cost ***"into the millions to setup an ETH validator"*** then I'm going to conclude that you are not very reliable at checking things! > A small miner is surely much easier to build Why don't you check how much it would cost you to set up a profitable Bitcoin miner at home. Then come back and share what you have found?

No-Masterpiece2246

Disagree. First off, somebody who wants to control a large swath of any coin's supply can just BUY IT. So the huge ETH stakers are hedge funds like Tom Lee's Fundstrat. Tom controls a LOT of validators and thus can be coerced into not allowing ETH transactions from a blacklist. This wouldn't kill the ETH blockchain but would cause problems. Witness the 2 week waiting line to unstake from Metamask. BTC supply is of course controlled by corporations like MSTR as well. But anyone can still mine a small amount using one of 7 big public pools. Certainly not ideal but they're making a contribution to the network's decentralized consensus, A small miner is surely much easier to build than a small ETH validator, Last I checked you're getting into the millions to setup an ETH validator.

shoecellar

This is where the imagination is an important tool. There are a LOT of ways nowadays to get rid of crypto without selling it on an exchange. People have done this since the beginning. Can also trade it all for midnight token $NIGHT as this is essentially one of the things it was created for

770120437

I missed it but my money is doing well No FOMO over hear bro but you do you. A LOT of bag holders out there hyping it up every time it runs up

vplatt

II think you unintentionally contradict yourself. Whether the US will be trusted again has a LOT to do with whether the debt to GDP ratio gets back under control again. I know the trust varies a lot too by whatever crazy rhetoric is coming out of Washington DC these days, but honestly I think we're all immune to that bluster at this point anyway. Tariffs, Iran, etc. all have knock on effects on that debt ratio too so I see those as all interdependent.

United_Wedding457

I've traveled a fair bit in my life as well, but I can see where kstorm is coming from. Time is your greatest asset when it comes to wealth development. If you hit the gas hard when you are young, you can coast the rest of the way. And if you do it well enough when young, you will retire young and not have to worry so much. In my personal opinion, when you have money in your late 30's and beyond, you can still travel wherever. I know a LOT of older adults (60s -80s), and as long as you take care of your body, you can truly enjoy travel into your early 80s. I have a family, a home, and a full time job and because I put in the work and invested since my early 20s, I am set for an early retirement. Even with me "grinding" in my 20s to save and invest, I took numerous trips. I have been to Korea, Mexico, Canada, Iceland, England, France, etc. (I don't want to list them all, but I wanted to capture the diversity of where I have been while holding down every responsibility I have). Granted, I was not taking a year off, but I personally find that extended vacations of 2 to 3 weeks at a single location is good enough for me. In my opinion you don't want to sacrifice your later years for the current day. Yes, tomorrow isn't guaranteed to anyone, but at the same time, you don't want to be living your most vulnerable years with nothing. It doesn't sound like OP will necessarily have that problem persay but OP also doesn't talk specific numbers so it is truly hard to gauge. Only OP knows the true numbers, but I would say 500k in liquid is probably the number I would agree with if you were going to take a whole year off... Just my opinion though.

sid007i

Well who doesn't think the cycle wont continue. Will it get back to ATH? YES, Will it get above ATH YES! When No one knows for sure but if rate cuts are on the radar, then YES that will help it rally. 2 more years of DJT so we are ok for 2 years with a LOT of pain in between and LOT of volatility. DON"T buy if your planning on holding, it will drop 3-5k ++ along the way so set you limits lower, let it rally, buy it when it falls DCA in. Don't do what I did and after ATH not take enough profits. Anyone remember OCT 10th crypto liquidation? It happened b/c the 4 year cycle ended. Will it happen again yes? Will it happen in 4 years? Most Likey. Can it happen between now and the next 4 years? A meltdown, yes. The liquidation event and we just keep going down Possible. THIS IS THE HIGH-RISK HIGH-REWARD. This is Crypto.

Crucco

They tax everything else: income, inheritance, cars, fuel. And a LOT. The welfare state is collapsing and there is no innovation, no competitive company, nothing. Italy is dying. It will collpase economically (bankruptcy) in 20-25 years. I just hope I will have enough resources to pay for the one-way planet ticket to send my kids to US or China.

Omarkhayyamsnotes

Long time crypto enthusiast here. A LOT of us traders lost a fortune in the October crash. The winter winds are still blowing. Soon it will thaw and Crypto Spring will come

spiritualcore

Ok so this happened kinda to my friend but on a different way. Friend was investing in his own way tho - have you been investing in cash app on your own or they are doing it for you? He kind of figured it o it by being smart to them back. I think he said like “give me access to that account so I can add more!” And made them think that he was fully hooked. But then he withdrew all his money and never looked back. He was almost right in there and about to send them much more money. The initial growth of the 10k was actually a “hook” to get my friend to put a LOT MORE MONEY in. That was the scam for them, going for big fish

dbll888

You can buy a LOT more coins if you buy a crypto that is cheap now and that is going to be used in the coming years. Look up Weiss ratings. You can look at their analysis for free. They've been something like 90% correct in their recommendations over many many years. They show you ratings from A+ to E- and tell you the coins rate of adoption and it's rating in being used by tech co's, etc. ENA is rt below BTC and has an excellent rating and is under 25 cents or it was earlier today.. Grass is cheap and rated very highly too. You'll make more profit by buying the coins that are pretty much just starting out, are cheap and are going to be utilized. If you buy BTC like everyone is saying, your buying power will be a LOT less and your profit will be less. You'll be able to buy much more of these highly rated, inexpensive coins. Do some research and make your own decision. But, get Weiss ratings app is my suggestion.

PossibleConclusion1

All they said was there were org changes and my role was eliminated. It is very likely because of AI being used to replace my team. Honestly, as terrible as this is for me, I feel bad for the 2 people left behind who are going to have to deal with the fallout. I had A LOT on my plate, and they wouldn't even let me send some emails to help others know what to do. I'm sure leadership assumes Claude will save the day, but I'd be willing to bet at least 2 clients are lost.

omni_wisdumb

The lowest I bought at was a few $1-5. But let me say this for all the "I wish I got in super early because I'd be a multi-millionaire"... You most likely would have sold a LOT sooner or lost keys. I'd say I've done very well, but ironically by not HODLing. I sold when I thought I'd made a lot, bought back when there were crazy crashes, sold again when it 2-3x. I always did keep a small stack of "when each of these is worth $1M" The people thought bought at $1 or sub and never sold most likely had lost their keys and found them later.

ComasArentFun

Who cares.. just fucking wait. If you're not on the wait train then you're trading, which means you're almost guaranteed to lose (I lost a LOT between 3 and 30k - but I've make a fuck load since)

lobhater

Exactly! Unless the market collapses which I don't see happening BTC is going to be worth A LOT more in 10-20 years

ExpressCopy8786

The short straw fire that went out immediately because there is absolutely no real liquidity behind BTC right now and a LOT of larger holders are looking for partial outs, are looking to sell off a chunk? Yeah no... Still dead locker in a liquidity hole.

Impressive-Fig-9532

The truth that this sub doesn't realize is that EVERY asset in this world is controlled by the big instutitions and giant venture funds. Do you think BTC would of hit 100K if it only consisted of millions of retail wallets holding $500 bucks of bitcoin? OR do you think it hit because a hand full of mega institutions holding trillions of assets went in with billions of dollars? Zcash is the most obvious example. A LOT of institutions are going on on it, yet this sub fails to realize what made BTC successful is what is exactly making zcash successful.

_Commando_

The only thing that I don't like about ADA is that "A LOT" of the activity is actually "off chain" at least 50+% of it via their partners and bridges, which is why I always keep seeing comments like "oh Cardano is dead, no activity..." but in reality it's quite the opposite. I mined ETH when it was $3, also mined BTC when it was sub $60 so I've been around for a while and know ADA is holding a great set of cards. As the old saying goes "Good things take time".

breakboyzz

only double? i bet double its last ath. it did $3 before it had smart contracts, and its not even one of those hype coins. there’s A LOT more going on now. my best guess is $5-$10 next real alt bull run.

Gh0st_Pirate_LeChuck

There’s A LOT of stupid people with internet access.

tequilawhiteclaws

Just follow what the institutions are buying. Yes Bitcoin, but they're also buying A LOT of other stuff. Layer 1's and plumbing coins like Link, Ondo etc. I would not be buying something that is merely trying to be a currency without any utility beyond that.

MaliceSavoirIII

Learn everything you can about narcissistic abuse and cluster b pathology and it will be A LOT easier

Friendly-Attempt-279

Unfortunately I think in 15 years inflation would mean that 1 million has a LOT less purchasing power. I would think if in 15 years it hits 5 Million that’s a different story. I always assume inflation rate will be 3-5%

chanmalichanheyhey

lol i was about to say this as well. buying IBIT even with higher than normal fees, is better than a newb getting scammed out of the entire principal sum . there are a LOT of potential ways you can lose everything for a crypto newbie

Special_Truth9359

What LLMs lack in quality output they make up for in speed, like I said. They can simply operate a significantly faster pace but on an individual basis they require a LOT of guidance to arrive tight, high quality output

Express-Economist-86

Then that’s worse. The length of time you’re going to live keeps going up with medical advances, and with a growing aging population - the money is following your cohort for services. If you’re not working strategies to hold your money, like taking a loan against your holdings (no tax on a loan - if the underlying goes up take a new one) or investing in solid dividend payers to keep your underlying fund - then you are asking to be old AND broke in the most vulnerable years of retirement. You’re going to get increased tax brackets at your weakest time, it’s really disgusting how the economy treats the elderly. I’ve done my share of reports to senior-abuse responders, the response is painfully slow and the situations older adults get into are so pathetic, dark, and unhygienic they’ll let a LOT slide a normal human would be crying to see someone they love in. I can’t stress enough, HOLD your assets. If you don’t know how, find out. No one looks out for the elderly the way they should, and 98% of the time they’re trying to take your finances to the cleaners.

Vipu2

So 1 BTC today is worth A LOT MORE than 1 BTC 10 years ago?

Tallwhitedude123

It’s mechanical. Bond talk isn’t sexy. Most don’t understand it and zone out. That’s why they don’t get in or get of assets early. Bonds dictate A LOT of other asset classes, to say the least. If you want to be successful in investing you must understand bonds

ObamaLovesKetamine

Stupid.. OR smarter about where I put my money. I dont want to invest in a sketchy memecoin that blows up overnight and then get caught holding the bag after the creator and everyone else pull out of it. With coins like these, if it's already going up, it's too late to gamble on. same goes for all memecoins. >Part of the game of investing in most cryptocurrencies is knowing it'll crash eventually and selling before lol. 'Investing' is doing A LOT of heavy lifting there. I dont invest in crypto to gamble on short-term gains. I invest because I genuinely believe in the infrastructure behind crypto and think it's the future of finance. I'm looking for generational wealth from longterm investments in serious projects, not pump and dump wealth from gambling on shitcoins. as far as I'm concerned, memecoins and folks like you who are all about the pump and dump are everything *wrong* with crypto and gives the rest of the scene a bad name.

omni_wisdumb

I've been in the space since 2011 and I consistently have some my entire BTC position and have made a LOT more profits than if I had just kept it all or partially sold. What's dumb is to sell after a massive dump in price or to buy when the price has more than doubled (especially since 2018).

AcostaJA

You don't consider AI startups cooling down, that's moving away a lot (and I meant A LOT) of capital out from AI, where you believe they are looking for? Everytime it's different.

JuxtaposeLife

While I get where you're going with that... Doom is a more open play (not 2D) and milliseconds are 1000 to a second. The number of clicks you see in this video is on the order of 150-200 per minute between firing and movement. That's A LOT of input data that would never be the same... like it might be on mario speed runs. The main point is that human clicking while playing a game of that nature introuces a level of randomness that is much higher than one might assume. Similar to the math behind what throwing an unsorted deck of cards on a table and simply rotating yoru hands for 10 secodns on the pile, then gathering it and checking the order. The number of possible combinations of a shuffeled deck (a figure with 67 digits in length) usually surprised someone, even more than how random the deck actually becomes if you do that kind of a shuffle twice (even more entropy than 100 dice rolls)

lexicon_riot

There's nuance to this discussion. The question isn't how much hash you need to produce the next block, the question is how much hash you need to stop malicious miners from gaining the incentive to attack Bitcoin. We don't know the answer to that question yet. Hopefully we never will, but it will be a LOT higher than just one CPU, so this "BUT ACHTUALLY YOU JUST NEED ONE LAPTOP" rhetoric doesn't help at all.

AutoModerator

Post is by: Cool_Individual_941 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1vrdizc/is_anyone_seriously_buying_this_stuff/ This seems to be the only large crypto sub that actually lets me post things without immediately deleting it so this is my new favorite place to be. Anyways. I just have a question for the huge amount of people on this subreddit. Is anybody seriously buying stuff like $Velvet? I just cannot imagine anybody who actually takes the time to look over the things they buy, seriously putting money into things like that. It sort of boggles my mind how high the market caps of some of these virtually valueless coins get up to. I understand the whole degen fomo gambling side of it playing a part. I maybe I just cannot believe the amount of money that is being allocated for degen fomo gambling vs legitimate buys. All it takes is 30 seconds of exploring the website to realize it’s the furthest thing from anything special or unique or groundbreaking. It’s overvalued by a couple hundred million dollars LOL. I watched this thing explode from tens of millions to nearly a billion, then back down to a hundred million and now back to over half a billion. There are A LOT of coins like this that I have noticed becoming more and more frequent over the past couple years, this is just an example. Its different from the usual meme/shitcoins. It’s almost like a hybrid coin of super overly exaggerated utility combined with hype and volatility popularity. Another example of this would be something like $LAB. Is the ratio of total legitimate investment money vs total degen fomo gambling money changing a cause of this? I would just like to hear other peoples legitimate thoughts on these kinds of coins, and other peoples examples like it that they have seen. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

DaleAguaAlMono

It looks to be A LOT of fud in the bitcoin sub these lasts times; it looks to me that there is someone \[with a lot of money and interest\] in tankering the price or keeping it low. It's always the same; new dogs, same old tricks. Care of your coins bros; someone wants them badly!

Sharpie1965

He's going to steal a LOT of BTC

x0y0z0

In 2018 the average person barely knew what crypto was which made them all potential future crypto holders. Crypto had growing room, a massive market of potential buyers that could be converted by the eager and excited crypto evangelists spreading the good word. A LOT has changed over the last 8 years. Now literally everyone knows what crypto is. And when they think about it they generally think of scams, rugpuls, deranged volatility ect. When they compare it to stocks they see the S&P going Up Up UP and Eth being below where it was 5 years ago and BTC basically where it was. It looks like dogshit. Think of public awareness and sentiment as a recourse that can be spent. You only have so much of it. When the market is unaware then you get a steady influx of new suckers. Once every single person in existance knows, and has a bad impression, then you have spent this resource. This is why your cruch of "but we always came back like we did in the past" doesnt help. The only way for this to continue is if we find a stargate to another planet filled with humans who haven't heard anything about crypto, even then it would be hard because they could do research on the history and then the corpse starts to stick in the sunlight again. "It’s like saying after the stock market crashed, that stocks had their time." If every single stock in the stock market was essentially the exact same thing, based on the exact same technology, just with a different meme name and bullshit whitepaper making stupid ass claims, but otherwise having 0% value. **Then yes we could see the entire stock market crash and never come back**. But the reality is that the stocks on the stock market are for the most part extremely diversified (Bubbles being the exception) companies generating real value in the world. Not some smoke and mirrors white paper wrapped in lies like 99.9% of the shitcouns. You know this to be true.

crooks4hire

We can both occupy the middle ground 😁 You’re right too, wars are definitely fought with money long before they’re fought with guns. There’s a LOT of new blood moving into bitcoin, and many people view it as a safe haven rather than a tool. They’re understandably scared and just want their money to maintain its value over time. ETF’s, exchanges, etc are a decent enough avenue for that; but folks need to be aware that they’re still at undefinable risk when taking those routes due to the trust necessary to use them.

Some-Platform1968

Yeah, make regular contributions to an investment account with a portfolio that aligns with your objectives and risk tolerance. Do this for a long time and then you will have more money. If you’re trying to hit a huge, lottery type payday that allows you to retire early, that takes A LOT of risk and more likely you will be one of the vast majority who lose it all. There’s no strategy in this lotto scenario, just luck

Backieotamy

It could have been this fall/winter but the clarity act has put a very volatile wildcard into the mix and historically we're 2 years away from the next bull run of substance but again a LOT more corporate adoption than previous, ETFs, clarity act really make it a.. Who TF knows.

Big_Professional9253

Been in crypto since 2017. Seen A LOT of scams and been a victim of a couple of them in my early days of trading. This Coldcard hack is one of the scariest things I've seen in the cryptoverse. It's a level of counterparty risk that's very difficult to explain, and protect yourself against. Wondering how people are mitigating this new kind of risk.

foxy-agent

“Forgot” is doing a LOT of the lifting in that excuse

Zestyclose_Ad2462

Proposed BTC holdings: 10% in a cold wallet w/multisig or 2FA 10% left on a reputable exchange 40% in one ETF using one custodian 40% in another using another custodian This minimizes the possibility you'll get Cold Carded. Even if you do and it's a complete loss, you still have 90% of your portfolio. Ditto if your exchange goes under. ETF's aren't guaranteed but I'd bet good $ Fidelity, Vanguard, Schwab etc employ better (and far more) cyber-security nerds than any cold wallet. Let's look at Fidelity. They're the largest custodian in the US, with over 17 TRILLION assets under management. There's at least a CHANCE they'd make people whole. Otherwise, why would people keep their money with them? They'd forever be known as the custodian who got hacked and people lost everything. Conversely if they stepped up and made people whole, I bet they'd see a LOT of new customers. And few, if any existing customers leaving. Just my opinion

Revolutionary-Cup78

Don't do "what they say", understand the networks you are invested in. Without a baseline you can't tell the noise from the scam and the wisdom (and in the crypto space there is a LOT of noise and scam)

Zestyclose_Ad2462

Here's my take on self-custody: You should have some BTC in a hardware wallet, but only a small amount (say, 10%). The important part isn't how much is there, it's that you've built it should you ever really need it. Keep another 10% on a reputable exchange, 40% in an ETF using one custodian and 40% in another ETF using a different custodian. Presto - 80% of your BTC now enjoys institutional grade security. The .20 or .25 expense ratio you pay every year is money well spent IMO. Especially if you're no programmer/cyber-whiz. We are not there yet insofar as cold wallets. BTC itself takes a LOT of self-education and a cold wallet takes even more. Unless and until there's some recourse for a mistake, hack or coding error, self-custody will remain a fringe activity. We need better tools.

flashdurb

Can do a LOT of work with that short term. Imagine a reality where in April 2020 you spent your $1300 on Bitcoin at 4k value.

BTC_90210

Actually the burger did change, it got A LOT smaller.

ubermensch1001

Good point, man, but I recall seeing it on here A LOT because of posts pertaining to wallets in general.

ubermensch1001

The two worst youtube channels that immediately come to mind are; \- Altcoindaily, this one has some real news but they shill A LOT and they also try to spur FOMO. \- CryptoLarkDavis, that guy heavily promoted Celsius way back in the day and even had a video where he briefly "apologized" to his viewers if they had signed up on that lol. There are others as well but those are the bigger ones that I think of off the top of my head.

ubermensch1001

Bro, I don't think you understand what I'm talking about. Think about it this way, you have a bunch of posts on here specifically telling people NOT to buy Ledger because it's closed source and then recommending Cold Card. This was something I saw A LOT on here and yet look at where we are now lol. Do you not see the pattern here, the wallet that was heavily marketed randomly on the internet turned out to be complete garbage. It reminded me of the crypto youtubers shilling Celsius and Blockfi back in 2021, not sure if you remember that or not. Actually, now that I am rereading your reply to me on here I'm partially convinced you are just a troll that just came on here to argue with me for who knows what reason. Were you a Cold Card user perhaps?

ubermensch1001

What he's saying is that there was a major flaw with ColdCard that potentially could make the company liable. I've seen a few reposts on here from a few years ago where a customer reported having funds drained after following their seed generation protocols and after reaching out to their customer support they blocked him. I also saw a post where someone from that company was talking about retirement hack, where they intentionally input some sort of flaw into the code that makes the seed generation weak and predictable to where they could be guessed and the wallets drained of their funds. This is ultimately that has spooked A LOT of cold wallet users, though with this particular company there is some evidence that really puts them in a spot.

Tebasaki

Prosecution, legally, but there's a LOT of angry people that lost their "retirement" money and might want to get their portion back personally.

Emergency-Warthog-56

Yeah it's a scam that happens to a deed to a house or property. A owner doesn't notice that it happened until foreclosure notices start coming. By that point, it costs the real owner a LOT of money that they usually don't have to fight it.

Trick-Care8369

There are a LOT of ways. The most reliable in my eyes is to use multiple vendors to create separate sets of keys that way if one of the vendors is compromised and the others aren't you're still safe

low_contrast_black

Hell, this week I trusted other engineers on my team. Then someone introduced a tool I’d never worked with into the build chain. Broke all my shit. It only took a few hours to get to root cause and fix, but unknown unknowns kinda ruined my Friday. Still, I was happy my guys put my shit through the wringer. Granted, a LOT of us do possess a Jesus complex. But anyone that’s been in the game long enough knows just how shortsighted we can individually be and relies on a team to make sure the shit doesn’t stink. ColdCard wasn’t the hubris of a singular engineer, however. It was a systemic failure.

Wolfy_K

I wonder how much this, the other hacks and the massive scams (ftx cough) affect people's willingness to adopt bitcoin? Because my assumption is A LOT.

omni_wisdumb

That will be nearly impossible. Especially if it was am inside job by a higher up, they'll just dissolve the company. Either way, that company isn't nearly solvent enough to handle such a judgement. This is at it's base, the issue with crypto, and quantum computing will make it worse. People saying "oh your pin will be hacked first" don't understand the difference between banks and some open source thing that has no real concess. The whole "not your keys not your coins" or "keep it on a hard wallet" theory also then opens your up to this type of thing, which is having some agency over the security of you ownership. If you want to keep $100k of gold in your house instead of at a bank or as an ETF, go for it. But it's a LOT easier to get the gold in your house stolen or lost or what have you. There should be insurance for these things, but then good luck getting an insurance company to cover an asset that can be anonymously "stolen", or the value updated as soon as you buy more, and you would not be able to stay anonymous.

RTrancid

I have a similar track record as yours but I got a few market fundamentals right to do 22k to 96k. Now it's impossible to make a high conviction prediction because there's no obvious catalyst and A LOT of noise. That said, I'm profiting on other stuff and if we see another major correction, I'll trade the volatility.

omni_wisdumb

Give me one example of a regulation? I don't think you know anything about how hacking works. I also never said I was against BTC. Like I said, I've been in the space since 2011. I just simply said the industry has changed a LOT since back then and it's basically a completely different use case and ecosystem now. And then sprinkled in some advice that people shouldn't expect parabolic movements anymore.

0xvet

This vulnerability will scare away A LOT of new investors sadly.

420friendlyredbeard

Careful talking about ALGO in here … lot of love but a LOT of hate

banditcleaner2

Nobody wants war except those in power. They aren't the ones actually going to fight in the wars. Nor are their kids or families. I think if politicians sons/daughters were forced to go into the draft for the wars they started, there would be a LOT less wars.

freistil90

Look, I live in Germany, I trade cryptos, both of my parents of my partner are tax consultants and I can very certainly say that you are not correct there. „The accounting is the blockchain“ also makes no real sense. Now to your „the markets are very deep don’t worry“ thing, 5 mio USD are about 280k DOT right now. Let’s check Coinbase. If you’d buy BTC directly by market order with it, you’d look at a loss of roughly 50% right now (go and check). You could also sell DOT for USDT, where that volume isn’t even listed right now. The daily volume hasn’t been as high as the single order you would like to fill. Now you could go through the most liquid route, sell for USD and then buy BTC. Now how would you like to go about it? Sell for an actual 5mio USD amount? There you are looking at about 355k DOT you’d have to spend, which is a los of almost 20%. And then you’d have to buy BTC, which is currently about 127 BTC in the BTC/USD orderbooks. So you’re looking at 127 BTC for 355k DOT, which is an average rate of 0.00035775, compared tongue current spot rate of 0.0004415 luckily not that much more. Still, 20% loss from the trade alone plus taxes you have to pay. That’s of course assuming you go through direct market orders AND the market doesn’t immediately see your ass-large order and rips you off - there are A LOT of algo traders that just wait to squeeze that order out. You could go through a broker and try to get this down to maybe 5-10% through continuously sipping into the market, hoping that not too many market makers realise that over the course of a week someone is liquidating potentially several time the daily volume in one direction. You could go via multiple exchanges too - that could help! But, if you look at Kraken too and split that up, you’re still looking at a discount of 15% at least. „Just buy Bitcoin for it“ is a sign that you have never actually had to deal with larger orderbook mechanics. Just post the damn DOT address and take the damn donation.

mecca666

>I believe there are going to be A LOT of countries that will announce usage of cryptocurrencies downright illegal. I believe you have no idea what you are talking about.

neveradullmoment2

Sounds good but is totally wrong. If the US goes fascist I will need access to my Crypto assets. There are a LOT of good people in Russia. They just have a dictator warmonger leader. It's not their fault.

Flaky_Protection7634

Yea a lot of stuff and I mean a LOT of stuff is done on the internet

CryptoSavants

They have a LOT of allies that can help

jojothehodler

There is more than 136 million dollars in the LN. That's already quite good for a LOT of people....we are not buying national reserve of fuel/gas. We are buying bread and coffee lol 😂

slasula

and there are a LOT of Russians in Thailand, especially Chonburi province.

mightyduck19

I mean yeah I completely agree...I definitely dont want to be giving a single penny to the Russia right now. But I feel like $5m going to Ukraine might be a LOT more meaningful than it would be to russia...so in that sense, its worth the risk to send the money even if it doesnt make it. Definitely hope that it actually does and can make an impact. Fuck russia. Fuck putin. glory for Ukraine.

hirokinai

The safest option right now would probably be to farm dark/cro for sky through the bank. Buying sky directly is a great option if you believe the price will keep going up. If the Tomb shares is reflective of performance, (which dark crypto is a carbon copy of) then it still has a LOT of room for growth. Dark has been holding the peg ridiculously well, and will do so for awhile longer because the supply is just so low right now.

Bone-Head-J

Someone who would take USDC or some stable coin? I’m sure there’s A LOT more

563847293810

- Because it’s used a lot less - Again, because it’s used A LOT less. - sure, since it’s a direct copy of Bitcoin. Don’t see it accepted anywhere that BTC isn’t though, so what’s the point? - BTC ditto 🤷‍♂️

reve_lumineux

Solid plays. I always refer to the penny-doubling question / lily pad-in-the-pond IB question. Gives you a LOT of insight on why 2x gains are > 100x if you know what you’re doing.

Nixie_Five

For BTC's sake! It is NOT 43k USD in Ukraine! It is priced 43k USD in Ukrainas valuta (UAH.) Maybe because the UAH is down the toilette? You are free to trade that pair and accumulate a LOT of UAH if you want....

AresBlack149

I got me a little bit a few days ago. And a LOT more during the contest! For EACH AND EVERY .02 BNB buy, your wallet address is entered into a contest to win .2BNB! Just 1 .02BNB buy could be an instant 10x!

Modern_Orange

Like 36 hours ago, A LOT of people were calling for 20k XD

ImFranny

That does sound sketchy. Who in their right mind would try to employ some1 on Reddit? That's either suspicious, your people will look at your profile and know you understand A LOT about the technology. It's more likely a scam

cmudo

Its not exclusive to such use, think of the super average person who gets his money in the local currency. In the past couple of years, the average person lost a LOT of buying power. Hell, banks are offering double digit interest rates, you can't escape reality if you want to fiat your way around.

Underrated321

25$ is A LOT for Ukrainians. This post made me very happy

Underrated321

25$ is A LOT for Ukrainians. This post made me happy

toraanbu

And who is electing that government. I know at this point Putin can only be taken off his ruling chair via, most likely, assassination, but before? Why did your people vote for him? And for Medvedev? Even now, **A LOT** of russians are defending and supporting putin.

Paskee

ETH has high gas fees due to high amount of traffic. Basically chain is used a LOT and this affects gas prices. If people used it less gas prices would be lower, but that would kill the price.

CryptoBeatles

Probably this time a lot of people just decided to throw some money IN the market to enjoy the dip. So there's a little bounce. I think we will have a HUGE dip in the incoming weeks, there's a possible shitstorm coming from eastern Europe (possibly a turkish ship got hit by a bomb, if it's true, gg easy and we're all at war, boys), so the all markets will go crazy, stocks and crypto included. I don't think we're all gonna die, but things will get a lot worse before getting better, so it would be wise to not check your portfolio if you can't stand seeing a LOT of red lol

sandygws

Bulls trying hard to push BTC to 37K and wreck tomorrow's shorts. Looking 50/50 tight now, but BTC is doing a LOT better than we expected.

jesschester

Technically Crypto bro isn’t completely wrong. Problem is that many other things have to fall into place before that can happen. First, crypto has to clear a labyrinthine gauntlet of regulatory hurdles, not just in the US but in the majority of nations world wide. That’s going to take a LOT of time . Second, it has to become a convenient payment method, not an investment opportunity. That’s just the beginning of the list.

sandygws

BTC showing the market who is Boss. The biggest issue before was uncertainty - if, when and how an invasion would look. Now that's out of the way, panic isn't the main issue. Other than interest rates being hiked by 0.5% next month, we might be out of the woods already. I'll be surprised if my 29K BTC orders get filled now. Also remember: a LOT of money has been pulled already this year. Lots of it will come flooding back at a certain point.

Agreeable_Falcon1044

that has nothing to do with Ukraine though...that's because it's already lost 99% of it's value and the Devs have randomly started releasing and selling huge amounts of tokens without warning. That's more than a LOT of red flags...

SuckinAwesome

Ehh I try to save serious political arguments off Reddit because it’s a big time waste but I love Crypto so maybe a few thoughts are worth it. I left Ukraine more than a decade ago but still have family and friends there. A lot of people were hopeful and optimistic after revolution, including myself. Many older people were disgusted, also a big portion of Eastern Ukraine did not support it. Nearly a decade on and all I can say is that situation in Ukraine got even worse. Economy in toilet, no manufacturing and worst of all some questionable social moves by government in regards to allowing nazis and officially recognising them. Now, I know that word has been desensitised in the west because everyone right of Bernie gets that title but in Eastern Europe it is a really big thing. Most families are only one generation removed from losing a loved one in the War. Everyone inside Ukraine and around the world knew that Ukraine going to Europe was a no bueno from the start. For some reason, Ukrainian politicians just kept angling for it, all while knowing where it would lead to. There was a neutral game to be played but for some reason was avoided. Now those same politicians fled the country, all while telling every man 18-60 to go and fight someone that a lot of them don’t see as an enemy. It’s honestly sad because there is a lot of shared history, good and bad going back centuries. A LOT of Ukrainians have Family in Russia or consider themselves to be part Russian. Unfortunately, it will go down as another failed state after another CIA colour revolution. War sucks and the worst part of all will be that most of the deaths will be 18-25 year old conscripts who have their whole life ahead of them. As for Crypto, in Ukraine you will see a massive adoption because the economy will barely function and people will rush out to protect their money. Russia too but on a more investor level as people try and bypass sanctions. … because I know this will be met with a putinbot response, I’m more than happy to put up a 100 DOT bet with my birth certificate being proof.

necropuddi

Again, IOHK has 600+ employees. If IOHK could hold onto its ADA while paying for that many employees, that would lead me to question how the hell it's all being funded. IOHK is spending A LOT of money on researchers, engineers, management, and grounds work in Africa and other regions. What's most likely is that the billion ADA was sold to fund operations. Whether it was sold first then fiat was paid to employees, or some other arrangement, we don't know and have no way of knowing. Just apply some logic for a second. Think about how much staking rewards were lost by not staking that ADA. If it were Charles himself, he'd be making quite a large loss by exploiting a DEX at the cost of staking rewards. I've seen your other reply where you said that you think it's for "ego reasons". If that's how big your tinfoil hat is, I don't think me making any amount of sense would deter your judgment.

LaMeraVergaSinPatas

It’s a LOT of shrieking

Serfaksan

In the short term it did went from $40K to $44K but on the better and long term goal, it made a LOT of people who were skeptics to realize the importance of having a currency that the government and the elites can't control.

RegularDevelopment52

The government here can suck my balls. However these last few days have brought A LOT of eyes upon cryptocurrency and the concept of decentralized banking. Trudeau has worked against himself every step of the way, it's pretty funny.