Bitcoin

[william schmaltz]

What happens when all 21 million btc have been mined?

Don’t care, I’ll already be dead for 70 years

 

[william schmaltz]

FYI for the crypto guys. Look into the Blast network. It’s a level 2 ETH network. Went live last week and I bridged 0.25 ETH over to start yield farming for the air drop when the token goes live in May. Made a transaction on the network Monday and it was only $1 in gas. Awesome. Currently, you cannot bridge back to ETH for 14 days, so we will see next week after it’s been live for two weeks how smooth it is to get money out. There are competitions with hundreds of projects trying to earn a spot on the network. Great team, lots of development and hype happening and network is live and checks out. They already have about $2.5 billion in TVL. We will see how withdrawals go next week, but I personally think that this project has potential to be this runs Polygon. I would love to see a run up to $100B+.

Blast

The L2 with native yield

blast.io

 

[OXN939]

I have a bunch of crypto. A decent amount of BTC. A pile of ETH and SOL. But I’m in probably 30 projects at any time. I bought my first BTC in early 2017. In early 2020 and over Covid I got a phd in crypto. Literally thousands of hours researching how everything works and different projects. Bought as much as I could in the few months before the halving 2020.

I made a post in another forum that was crapping all over BTC a little over a year ago telling people to buy over the next 12 months. Explained why I thought so and why it makes sense. I can promise no one did. I have been dumping into SOL and ETH every week the last two years. It’s been a hell of a last month to say the least!

Love that. I snagged some ETH while it was down. Knew I should have gone harder in the paint, as the kids would say. No PHD here, but ETH seems like the safest of the bunch outside of maybe BTC

 

[svivian]

I have some bitcoin somewhere… bought 15 or 20 coins when I was 18 to buy a fake ID in college and then found someone “legit” who could take cash. Still cannot figure out where I bought them from to login. Probably gone for ever

 

[Hnthrdr]

Can any of you explain to me, as if I’m a third grader, what the end plan is with BTC? Meaning are you envisioning a day where retailers scan some device of yours and deduct some amount of BTC for a bag of groceries? Inflationary concerns associated with fiat currency aside, I know what the US government is and its backing means something to me. Gold means something because folks find it pretty and it’s used in some manufacturing. Isn’t BTC just a nebulous idea floating around out there backed only by hope and opinion? What about concerns regarding digital theft, not only like what that weird Bankman Fried guy pulled off but how about some moderately talented hacker at the corner Starbucks? I mean, I can stuff my mattress with hundos or bury some gold in the pasture, BTC isnt tangible, right? Asking out of genuine curiosity, can’t disagree with the gains but just can’t wrap my head around how this isn’t digital tulip bulbs.

This is kind of where I am…

 

[Hnthrdr]

I have some bitcoin somewhere… bought 15 or 20 coins when I was 18 to buy a fake ID in college and then found someone “legit” who could take cash. Still cannot figure out where I bought them from to login. Probably gone for ever

Ouch

 

[The_Dinkmaster]

FYI for the crypto guys. Look into the Blast network. It’s a level 2 ETH network. Went live last week and I bridged 0.25 ETH over to start yield farming for the air drop when the token goes live in May. Made a transaction on the network Monday and it was only $1 in gas. Awesome. Currently, you cannot bridge back to ETH for 14 days, so we will see next week after it’s been live for two weeks how smooth it is to get money out. There are competitions with hundreds of projects trying to earn a spot on the network. Great team, lots of development and hype happening and network is live and checks out. They already have about $2.5 billion in TVL. We will see how withdrawals go next week, but I personally think that this project has potential to be this runs Polygon. I would love to see a run up to $100B+.

Blast

The L2 with native yield

blast.io

Thanks for that. I bought POLY back when it was MATIC at $0.02 soon after the launch. Several buddies did the same, some had millions. I only had about 100k. They got impatient and sold when it was basically a few cents .05 or so. I HODL'd because, why not just in case. Worked in my favor. But I sold a good chunk when it hit a dollar then panic sold (dont recommend that) after it went parabolic back in 2021 and was on the way down. Wish I had held onto them all and kept them staking.

Either way, Im going to check out this one. So you are basically storing ETH there until the token goes live in May? Will you get an airdrop of the token or a switch? Give me all the details lol

 

[wildwilderness]

I bought a BTC last year near the bottom at about $20k for my first venture into crypto. Not sure on ultimate strategy, but think I will be tempted to sell when it hits $100k to fund a sheep hunt!

 

[MountainTracker]

I bought a BTC last year near the bottom at about $20k for my first venture into crypto. Not sure on ultimate strategy, but think I will be tempted to sell when it hits $100k to fund a sheep hunt!

Only one haha


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[fmyth]

I have no grand sight for what BTC or crypto will be. I have reason to believe it will be around and gaining for decades. I’ve educated myself on the cycles and how it all works and I’m here for the turning, for example, $1K into $15k over a couple years and cashing out for hard assets. Then repeat. I already posted the halving chart. For 3 years we’ve known with about a 95% certainty that before this halving the BTC ETF was coming and institutional money was on the way. For me, the exponential gains from two years ago to about 1.5-2 years from today are nearly a guarantee. That’s why I’ve been buying ETH and SOL and not BTC, because I view them as safe with a much larger margin for profit than BTC. I’m already up nearly 10x on the SOL I’ve bought over the last couple years. I plan to be mostly out in ~1.5 years and buy a pile of real estate and reevaluate. I’ll likely roll all profits back into crypto over the (more than likely) two year bear market from 2026-2028.

I’m not into selling people on the hedge against inflation deal. I certainly understand it and somewhat explained it, but DYOR and don’t listen to internet strangers if you have so much money laying around that you’re investing it to save it from inflation. If you truly believe the USD is going to collapse and we will be on CBDC or trading gold rocks for goods, shit has got well beyond out of control. If that’s what you’re basing your investing around, I would recommend buying ammo, guns, and water filters over anything in that case; they will be of significantly more value than gold, BTC, or anything for that matter.

When I post items for sale, I say that I accept Venmo, BTC, ETH, and SOL. Several places online already offer crypto as a payment option. And we’re EXTREMELY early. Maybe we see crypto as payment at the store eventually, but probably not for another decade.

As far as theft and hackers, see the post about moving everything to a wallet. Not your keys, not your crypto. That’s what happened with FTX, people that lost money broke the cardinal rule of owning crypto. You don’t own it on Coinbase, FTX, Robinhood, etc. you own it when you have the keys (hard or soft wallet.) And keep in mind (unless things changed recently) that places like Robinhood own $0 in BTC. You cannot send crypto bought on places like Robinhood or PayPal to a wallet b/c they own none. You’ve simply bought a position. Buying on crypto exchanges like Coinbase will then allow you to send to your wallet, at which point you own the keys. Just buying on Coinbase again means you own an electronic position and they technically still own the actual crypto.

The US Government owns $13 billion in BTC by the way. So don’t be so convinced the government or corporations are against it. Watch what they do, not what they say.

I’m old enough to have watched dozens of opportunities slip away because of people not embracing technology. “Why would I go to a computer to type an e-mail when I can just write a letter and send it, Microsoft will go to zero.” “People would rather have in person interactions than online, Facebook will go to zero.” “People love going to malls, I doubt we will order our groceries from Amazon.” “I’m not carrying around a phone in my pocket when every building already has one and pay phones are everywhere.” The corporation and banks are putting in place massive crypto branches, we’re officially adapting. Again, watch what they do, not what they say.

My business accepts Paypal as payment. I use the Paypal funds to buy BTC through Paypal and then send it to my hard wallet.

 

[wildwilderness]

Only one haha


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yeah, jokes on me, wished I would have bought 10!

 

[Customweld]

yeah, jokes on me, wished I would have bought 10!

BITCOIN?! "Who the hell in their right mind would buy that? it's not even real!"
-Unfortunately Me in 2012

 

[JackOfAllTrades]

I have no grand sight for what BTC or crypto will be. I have reason to believe it will be around and gaining for decades. I’ve educated myself on the cycles and how it all works and I’m here for the turning, for example, $1K into $15k over a couple years and cashing out for hard assets. Then repeat. I already posted the halving chart. For 3 years we’ve known with about a 95% certainty that before this halving the BTC ETF was coming and institutional money was on the way. For me, the exponential gains from two years ago to about 1.5-2 years from today are nearly a guarantee. That’s why I’ve been buying ETH and SOL and not BTC, because I view them as safe with a much larger margin for profit than BTC. I’m already up nearly 10x on the SOL I’ve bought over the last couple years. I plan to be mostly out in ~1.5 years and buy a pile of real estate and reevaluate. I’ll likely roll all profits back into crypto over the (more than likely) two year bear market from 2026-2028.

I’m not into selling people on the hedge against inflation deal. I certainly understand it and somewhat explained it, but DYOR and don’t listen to internet strangers if you have so much money laying around that you’re investing it to save it from inflation. If you truly believe the USD is going to collapse and we will be on CBDC or trading gold rocks for goods, shit has got well beyond out of control. If that’s what you’re basing your investing around, I would recommend buying ammo, guns, and water filters over anything in that case; they will be of significantly more value than gold, BTC, or anything for that matter.

When I post items for sale, I say that I accept Venmo, BTC, ETH, and SOL. Several places online already offer crypto as a payment option. And we’re EXTREMELY early. Maybe we see crypto as payment at the store eventually, but probably not for another decade.

As far as theft and hackers, see the post about moving everything to a wallet. Not your keys, not your crypto. That’s what happened with FTX, people that lost money broke the cardinal rule of owning crypto. You don’t own it on Coinbase, FTX, Robinhood, etc. you own it when you have the keys (hard or soft wallet.) And keep in mind (unless things changed recently) that places like Robinhood own $0 in BTC. You cannot send crypto bought on places like Robinhood or PayPal to a wallet b/c they own none. You’ve simply bought a position. Buying on crypto exchanges like Coinbase will then allow you to send to your wallet, at which point you own the keys. Just buying on Coinbase again means you own an electronic position and they technically still own the actual crypto.

The US Government owns $13 billion in BTC by the way. So don’t be so convinced the government or corporations are against it. Watch what they do, not what they say.

I’m old enough to have watched dozens of opportunities slip away because of people not embracing technology. “Why would I go to a computer to type an e-mail when I can just write a letter and send it, Microsoft will go to zero.” “People would rather have in person interactions than online, Facebook will go to zero.” “People love going to malls, I doubt we will order our groceries from Amazon.” “I’m not carrying around a phone in my pocket when every building already has one and pay phones are everywhere.” The corporation and banks are putting in place massive crypto branches, we’re officially adapting. Again, watch what they do, not what they say.

How does one transfer to a hard wallet?
Say I start a coinbase account, buy some BTC & ETH, how do you store these in a hard wallet until I want to sell? Coinbase wallet app, or USB?

 

[fmyth]

How does one transfer to a hard wallet?
Say I start a coinbase account, buy some BTC & ETH, how do you store these in a hard wallet until I want to sell? Coinbase wallet app, or USB?

The easiest I've used is a Trezor and Ledger. Buy one from the manufactures website not from a third party. Make sure the package is sealed and has not been opened. Follow the simple instructions. Send $5 of BTC from your Coinbase acc to the hard wallet a few times to make sure you are doing it correctly before you transfer $$$$$$$$$ to it. Don't screw around with airdrops w your hard wallet as thats the number one way people get their wallets emptied. I keep some BTC on Coinbase and some on hard wallets. I use a Yubikey to secure my CB account. Coinbase is the custodian for 10 of the 12 publicly traded ETFS so it's not likely that they'll close up shop and split with my BTC. If you are not comfortable with this process just open a Fidelity account and buy FBTC or IBIT and enjoy 90% of the benefit of investing in BTC. I'm a die hard Bitcoiner but the when the ETF's were approved I opened a Roth with Fidelity and put the max in it. In 5 years I can sell and all the gains will be tax free. The big downside of just investing in an ETF is that you can't put your billion dollars of a BTC ETF on a thumbdrive, stick it in your prison wallet and escape to foreign country with it.

 

[grossklw]

How does one transfer to a hard wallet?
Say I start a coinbase account, buy some BTC & ETH, how do you store these in a hard wallet until I want to sell? Coinbase wallet app, or USB?

Pretty easy- buy a Ledger (directly from their website so you know it's not a cheap Chinese knockoff). Buy on Coinbase or wherever, and you transfer it to the Ledger wallet. The key with an offline wallet is the seed phrase. I have one copy hidden in my house and another at someone else's house I trust. If I ever lose my Ledger or it gets destroyed as long as I have my seed phrase, I will always be able to access my crypto. When you sell you can transfer back to coinbase or wherever and sell for cash.

Where people get in trouble is if they have it on one of these soft-wallets (Coinbase, crypto.com etc) if they go tits up so can your crypto (I doubt Coinbase will go up, but I thought the same about FTX). That's what happened with me and Celsius, so now I don't trust any of them; FTX was the same thing. Ledger can go bankrupt and I'll still be able to access my crypto since they're not storing it.

 

[ScreamingPotato]

Pretty easy- buy a Ledger (directly from their website so you know it's not a cheap Chinese knockoff). Buy on Coinbase or wherever, and you transfer it to the Ledger wallet. The key with an offline wallet is the seed phrase. I have one copy hidden in my house and another at someone else's house I trust. If I ever lose my Ledger or it gets destroyed as long as I have my seed phrase, I will always be able to access my crypto. When you sell you can transfer back to coinbase or wherever and sell for cash.

Where people get in trouble is if they have it on one of these soft-wallets (Coinbase, crypto.com etc) if they go tits up so can your crypto. That's what happened with me and Celsius, so now I don't trust any of them; FTX was the same thing. Ledger can go bankrupt and I'll still be able to access my crypto since they're not storing it.

Seed phrase for a large Ledger balance should be in a safety deposit box.

 

[MountainTracker]

yeah, jokes on me, wished I would have bought 10!

I meant one hunt, $20k would get you almost three by now, but you’d have to sell everything for that.


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[wildwilderness]

I meant one hunt, $20k would get you almost three by now, but you’d have to sell everything for that.


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Not a Stone or a Desert hunt. I live in AK so hunt Dall's every year. Need a Desert to finish the slam. I do love stone sheep though.....

 

[MountainTracker]

Not a Stone or a Desert hunt. I live in AK so hunt Dall's every year. Need a Desert to finish the slam. I do love stone sheep though.....

Same on the AK part, not the slam part. Hope you do it.


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[MountainTracker]

From today. Just an example of what is coming.

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