COINBASE for Crypto has come

[Clinamenic]

Bitcoin really ought to be a speculative asset rather than a currency. Being non-inflationary (logarithmically inflationary really) it offers something that other issuable assets and currencies don’t. There would need to be a consensus update to raise the max capacity or reprogram the economics.

 

[Clinamenic]

Also because it’s as energy intensive as it is. Maybe lightning network can help Bitcoin here, but I’m not familiar with what LN really is. My guess is that it’s a layer-two that offloads some of the ledger data into cold storage, but I could be confusing it with Taproot there.

 

[Clinamenic]

Algorand, Cardano and some others that I know less about, claim not unreasonably to be orders of magnitude more efficient than Bitcoin and even Ethereum, so the criticism that crypto is monolithically detrimental to the environment is simply ill-informed.

 

[wild greens]

seems pretty sus, they're not exactly offering anything new either apart from future promises and that AlphaGuard thing sounds fanciful.

Why does it make you doubt Monero? Every market seems to accept it now, a few take it exclusively. I think Bitcoin's time as the black market currency is done.

Bitcoin has been out of sync with black markets for years- it felt like ETH took over in the Empire* days and Monero has supplanted it

It makes me doubt Monero's claim to be untraceable or close to it, as seems pretty reasonable to think that this is a honeytrap or something similar but its solely using Monero

Its suspicious

*tbf probably even Hansa?

 

[HMGovt’s Glorious Return!]

Bitcoin really ought to be a speculative asset rather than a currency. Being non-inflationary (logarithmically inflationary really) it offers something that other issuable assets and currencies don’t. There would need to be a consensus update to raise the max capacity or reprogram the economics.

My plan is exchange for ETH, speculate on NFTs, invest in defi, exchange back to bitcoin for safety, gradually stack the stack. Gold to silver and back.

 

[HMGovt’s Glorious Return!]

Its suspicious

Glows

 

[Pandiculate]

found this quite an interesting read

Ethereum co-founder Gavin Wood fights ‘crypto nationalism’

The creator of the Polkadot blockchain network wants to transcend “bitcoin maximalists” through technology.

www.protocol.com

 

[Clinamenic]

Yeah the hardcore bitcoiners see crypto as consisting of Bitcoin, and a bunch of shitcoins.

 

[Clinamenic]

Bitcoin or bust, etc.

Crypto-nationalism is a good term for this. Very tribal and toxic, as you can see across all the subreddits.

 

[Clinamenic]

What’s funnier is that most of this adversity has little bearing in the technical differences between the blockchains in question. Bitcoin is the most symbolically charged one, but beyond that it is maybe the least interesting, intrinsically speaking.

 

[luka]

Stan how much money gave you made off this stuff so far? have you reached 6 figures profit yet? just out of interest?

 

[Clinamenic]

The assets have appreciated 30% as of now, but at the highest, maybe a month ago, I was up 60%, and at the lowest, I was down 35%, which was right after the big crash in May. On the order of $1,000s, so no not six figures yet.

 

[Clinamenic]

But I’m not looking to cash out for decades, ideally. Of course that is just a passive plan.

 

[luka]

well keep at it, best of luck. how much time does it require? lets say both on a daily and weekly.

 

[Clinamenic]

It takes a lot of time to learn this stuff, but once you have it down, assuming you take a passive strategy like I do, the whole thing is pretty much on auto-pilot

 

[Clinamenic]

I’m not doing any trading, which is what would be time-consuming, I just like tracking the market and getting a sense of the rhythms and how they may relate to business/political news.

 

[Clinamenic]

well keep at it, best of luck. how much time does it require? lets say both on a daily and weekly.

Tough to quantify, as most of the time would be spent watching lectures or learning otherwise. One could enter the crypto market in such a way as to be almost entirely hands-off and even requiring little in the way of tax reporting, depending on your local rules.

 

[Clinamenic]

Even managing other people’s portfolios, without receiving compensation, takes little time after initial set-up.

So much of blockchain is about automating the kind of work that has hitherto been manual and done almost exclusively by professional investors.

 

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[Clinamenic]

There is something interesting and mimetic about this stuff. Thats when we get into ponzi territory. People having no basis for distinguishing possible investments, other than what their friends told them, what they read on reddit, etc.