Sender | Message | Time |
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9 Dec 2021 | ||
I'm not totally sure with my Friday buys. I have been using the CashApp. Which sounds kinda silly, but it was what got me to start buying bitcoin again. The UI is soooo simple and quick. But they don't make it super clear what the fees are. I have a sense I have seen them, but I don't think they show up during the actual transaction. | 17:50:02 | |
But I have found it works stupid well. And after I accumulate a bit in there, I send it to my real wallet. | 17:50:29 | |
I haven't bought any in about 3-4 years but all of mine is in coinbase I was buying using gdax because of lower fees. | 17:52:42 | |
Way back in the day I was buying on mtgox. | 17:52:50 | |
I don't normally transfer to avoid transfer fees | 17:52:57 | |
Oh yeah I was on Mt Gox... | 17:53:20 | |
So this is a fun thought... Bitcoin is a bet on Inflation, and Ethereum is a bet on Technology. https://finance.yahoo.com/news/ethereum-outperforming-bitcoin-because-technology-164410603.html | 17:53:55 | |
Seems like an oversimplification. Both are bets on their respective communities. | 17:54:59 | |
Yeah the community around them is what makes or break them in the rough times. | 17:55:22 | |
You know I been noticing there is a lot of parallels to Linux | 17:55:45 | |
You could make that same claim about a distro. | 17:55:52 | |
Except a distro is valuable without the network effects. | 17:56:07 | |
You could say ETH is too because of the smart contract stuff, and the transaction tools being built on top of it. | 17:56:36 | |
Prolly is true for bitcoin tho? | 17:56:48 | |
The smart contract stuff isn't valuable if no one else uses ETH | 17:56:50 | |
Well it seems like they would keep on using the tech, without even realizing it is ETH.. You know like music fans buying an NFT from a celeb or somethin. | 17:57:20 | |
More my point is if I just copied the ethereum blockchain and made my own alexcoin no one would use it and the smart contracts wouldn't be useful because there's no network. | 17:58:06 | |
Something else could come along.. But when you see stuff like Loopring, you start to think the next wave might be things that add features on top of ETH or BTC. | 17:58:10 | |
Like ETH and BTC are set. Now tools will be built on top of them. The so called layer2 stuff. | 17:58:25 | |
I also wonder.. At least with BTC.. If it drops, there is ALWAYS gonna people a huge group of people ready to buy now. | 17:59:26 | |
It's happening today even tho the price has not gone down that much. | 17:59:36 | |
If there was another 40%+ drop and I HAD the funds, I'd buy. | 18:00:06 | |
I'm not convinced there's enough of a "moat" to cause entrenchment to where there will never be new competitors come in and take over the space. Clearly BTC is never going to drop to 0. The layer 2 stuff is super necessary in order to get fees down and number of transactions up but I wouldn't be surprised in 5-10 years if people circumvent btc because of how slow the community moves and even eth. | 18:01:27 | |
It seems possible. But it seems like anything of that nature you'd see comin a bit down the road. So you could leverage the price of bitcoin to buy up whatever that new thing was. If you're watching for it. | 18:25:27 | |
This is really just a great rundown of all the typical crap thrown around in one place. https://www.theregister.com/2021/12/06/the_dark_equation_of_harm/
| 18:26:41 | |
A lot of opinion thrown around as fact. Typical alarmist take on energy use, ignoring the real data. Typical hand waves about ransomeware being the devil and bitcoin giving it power. | 18:27:26 | |
In reply to @chrislas:jupiterbroadcasting.comThe last point is why I don't do much with it. I don't have confidence I'm on the frontend of the curve and not the backend. | 18:27:47 | |
Yeah, I hate how a scam that uses crypto means crypto is at fault. But a tax scam asking old people to pay tax bills in gift gards is neither the tax agencies fault, or the gift cards fault. | 18:28:23 | |
In reply to @thekkid:dagarten.modular.im That makes sense. I feel like I am fairly plugged into news cycles, community drama, and project developments. So I might be more inclined. | 18:28:29 | |
Oh last thing than I gotta run, I came across this and thought it was useful: https://dcabtc.com/ | 18:34:10 |