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"In 2021, the West Midlands Police uncovered an illegal Bitcoin (BTC) mining operation where over 100 devices were connected to bypass the electricity supply." Great, they only had ONE case of this happening and now the blame is ours?
Good options already in this thread for buying KYC-free and through exchanges - key advice would be to use bitcoin-only services and platforms. The reason for this is three-fold: 1. There's a gigantic gulf between bitcoin and crypto - leverage that to your advantage by using platforms/services that are bitcoin only .. which in turn encourages more of them, and encourages the ones that we have to flourish 2. The service or platform will be laser focused on security and reliability and have ONE thing to look after, not dozens, hundreds or thousands of shiny balls 3. Most bitcoin-only services/platforms have strong support and often educational links and offerings that will help you level up your bitcoin knowledge Remember that bitcoin is ONLY yours when it's in your own bitcoin wallet. Stay humble, stack sats :-)
You think ONE is dead? I am still buying in hopes of a small 10x during the bull run. There are other projects with very high ATH's that are fractions of the price now but I am unsure if they are completely dead. Maybe it is just HOPIUM, on my end..
Mm.. yea I was looking at using a smart contract wallet for my ONE. So you’d advocate heavily then for smart contract wallet over anything else? I really want a database that’s similar to ledger live but allows me to see EVERY single coin I own. In other words, I want something with maximum support that I can watch over everything in ONE location. Having 20 different apps, accounts, and passwords is almost unmanageable.
I will sell some of my alts, yes. Take a look at this - https://www.coingecko.com/en/watchlists/all-time-high-crypto I failed in many of those because I believed that we were reaching skies, I was greedy and newbie, etc. So basically, I stayed without profits. VET, ONE, ALGO, NANO... that's when I was a beginner. There is nothing wrong with taking profits. You don't have to sell the whole bag though.
Inverse r/cc proved to be really formidable both in bull and bear markets. SOL, FTX, LUNA, ONE, ALGO - to just name a few that this sub hated/loved and completely did the opposite of what this sub expected.
There are THREE THINGS which back bitcoin. Those three things back the three emergent functions of good money - a storehouse of value, medium of exchange, and unit of account. 1) The storehouse of value function is backed by the Proof Of Work (POW) which the miners engage in to secure the blockchain. This expression of The Second Law of Thermodynamics is what ultimately ties it to the universe and reality. 2) The medium of exchange function is backed by the math and computer code which comprise bitcoin and allow it to be moved over the bitcoin network. 3) The unit is account function is backed by the smallest division of a bitcoin, the satoshi, which is also the unit of expression of the bitcoin code. Bitcoin is the FIRST form of money that is actually backed by something. NONE of the other forms of money were ever actually backed by anything (i.e. coins supposedly made from gold can be faked). Bitcoin is SO GOOD that it is not backed by ONE thing but by THREE things. No other form of money can make that claim. If your dad believes that coins made from gold are actually backed by gold then tell him to buy gold coins in some Chinese website; he'll quickly learn his lesson. If your dad believes that nothing backs bitcoin then tell him to try to sell forged (fake) bitcoin. He'll quickly learn his lesson.
The idea that somehow bitcoin can be banned by governments is the final stage of grief, right before acceptance. The consequence of the statement is an admission that bitcoin “works.” - Parker Lewis YOU REALLY NEED TO READ THIS ONE! https://unchained.com/blog/bitcoin-cannot-be-banned/ Im sure you’ll enjoy it!
Step 3 - do nothing. I am hardly against it. Just holding and doing nothing is not the answer. Yes, you can invest in bluechips and wait, hope that it will go up with years coming, but if you find a great altcoin project and do nothing, you might miss a lot of profits. That's actually when greed starts crawling on you, and that greed is telling you don't sell, wait, it pumped 90%, it will pump 90% more, just wait. Then, something stupid happens, and you lose everything. Example: Harmony ONE. This sub liked it, the crypto community liked it. They got hacked, the response was awful, and people lost their money and missed out their profits - including me.
Imagine a future where some kid is playing some Star Wars NFT game and he screams "MOMMMMM! I JUST FOUND THE DIAMOND LIGHTSABER!!!" "that's sweet honey" "MOMMMMM. THERES ONLY ONE!!! ITS WORTH $4 MILLION DOLLARS" This shit is powerful. I don't care what anyone says.
I did the math. The bitcoin miner is better odds (you will likely get a win lifetime, payout much smaller obv) A regular computer will never work so I’ll use the Bitmain s9 as the miner because the price is equivalent to an old shitty computer at ~50-100$. You have a 0.00003457% chance to win any next block (10 mins), meaning if the miner was active 24/7, 365 you have a 1.8% chance to win ONE block in a year. If the hashrate is unchanged In 80 years(your lifespan) you have a ~77% chance to win at least one block. The odds of winning the lottery with ~50-100$ worth of tickets is a 0.0000426% but your tickets can only win or lose once while the miner can try multiple times and obviously the mega jackpot lotteries can only be played 1-2x a year. If you played the lottery 2x a year with 75$ in tickets each time your entire lifetime (80years) your likelihood of winning once is 0.0068% and you would spend $12,000 trying. As you can tell both are pretty dumb ideas but if you have free electricity the Bitcoin mining lottery is way better odds, you will likely see one win in your lifetime whereas you would not come close with lottery and you would spend way more trying to win the lottery.
A regular computer will never work so I’ll use the Bitmain s9 as the miner because the price is equivalent at ~50-100$. You have a 0.00003457% chance to win any next block (10 mins), meaning if the miner was active 24/7, 365 you have a 1.8% chance to win ONE block in a year. If the hashrate is unchanged In 80 years(your lifespan) you have a ~77% chance to win at least one block. The odds of winning the lottery with ~50-100$ worth of tickets is a 0.0000426% but your tickets can only win or lose once while the miner can try multiple times and obviously the mega jackpot lotteries can only be played 1-2x a year. If you played the lottery 2x a year with 75$ in tickets each time your entire lifetime (80years) your likelihood of winning once is 0.0068% and you would spend $12,000 trying. As you can tell both are pretty dumb ideas but if you have free electricity the Bitcoin mining lottery is way better odds, you will likely see one win in your lifetime whereas you would not come close with lottery and you would spend way more trying to win the lottery.
Im talking about peak bullrun volume... All of these supposed ETH killers like ONE would get tons of issues like rpcs dying,etc. as soon as they got a tiny bit of volume on their chains. Only other one that came close to ETH was BSC but it is completely centralized.
I doubt it personally. Conspiracies tend to come out with time due to deathbed confessions, whistleblowers, things of that nature. One example close to this in relevance is the NSA PRISM project - it took only around half a decade for it to be whistleblown. There’s a mathematical formula that predicts the time it’d take a conspiracy to come to light, based on the capabilities of the conspirators, the number of them, etc. A whole new alternative currency is so sensational, especially given BTC’s profile now, surely would come out as quickly if not quicker. But that’s just me speculating, who knows Anyone interested here’s an article on it. Has a cool table of the conspiracies the data it was developed on came from, timeframe for them to be leaked, etc. https://www.abc.net.au/listen/programs/sundayextra/the-incredible-unlikeliness-of-conspiracy-theories/7129400 If you don’t like links, searching “David Robert Grimes PLOS ONE conspiracy model” will get the paper, or “odds of moonlanding being kept secret” will get the articles.