Anyone here do Crypto? (my Shib is crazy)

[browolf]

you can basically rate your portfolio based on the value of btc when you bought stuff. Like a lot of newer things i've bought were at around btc $40-50k so they're all down alot at btc 30k.

Whereas the things I bought in 2020 are still up a lot. Now the only plan is to throw $10 at everything that's down in the hope that when btc recovers, a 10x will at least recoup current losses.

 

I'd be wary of buying luna rn as the price is liable to plummet any minute if there's no good news from terra or Do Kwon especially about where that bitcoin they sold went.

Edited May 16, 2022 by browolf

[kennysarmy]

I'm not cashing out my investment for 9.5 years, it'll tie in with my retirement!

 

So it matters not what it's worth now, I rarely look.

 

It's not a huge amount, some several hundred pounds invested.

[paulkerton]

I gave up trying to understand the inner workings of the Coins, feels like internet paganism at this point

 

Libertarian ponzi scheme, more like.

[Ironside]

Turns out building your own economic system is hard, especially when the only reason people use it is to speculate on how much line go up or down

[stevewill6]

Bitcoin supporter here.

 

As adoption increases I can see how bitcoin could possibly change the world. It wont happen over night but in 10 to 20 years who knows?

[PotNoodleTech]

No one used credit cards when they first came out either "cash is much safer" and now Trillions of dollars are bunged over cards every year and cash is seen as unsafe.

 

Gotta look at things over decades sometimes rather than weeks or months.

[mikes]

One big problem with BTC as a means of exchange is the TX fees and the fact that it takes ages. They proposed the Lightning Network as a fix for this but that never took off. Meaning you have to pay from 5p to £2 to get your transfer confirmed, and it could take 5 minutes upto 4 hours. You can put in for a free transfer but that might take days. So you could never walk into Burger King, pay for a burger with bitcoin and leave in 3 minutes, as you'd have to either pay a £2 transfer fee on a 99p burger to get a 10 min confirm, or wait 3 hours for a confirmation before you can leave.

 

There are other coins with much shorter TX fees/times but they haven't really caught on. So BTC atm is half a speculative investment, and half a useful means of paying people who banks do not want to deal with. It's still a great idea, the ability to send actual money over the Internet just like an e-mail, without it having to go through banks; hence no worries about your bank account and personal details being exposed, and you can send to somebody in the slums of Delhi just as easy as your mother in the next town over. But for it to be really useful it needs to transfer in seconds and TX fees need to be at most a few pence. And that's also not mentioning volatility it isn't great being paid a monthly salary of £1500 in BTC only for it to be worth £1200 the next week.

[jthompson]

It may be that more modest developments like contactless will actually prove more significant to how the wider public moves on in their use of money over the next 10 years or so. At least in this part of the world. Cards, for instance, are massively oversized and overly thick for what they need to be these days, so a move away from that legacy 'standard credit card' format, or features like single-use card numbers, virtual cards, etc. to bring security up to date, are I think where there is still plenty of scope for meaningful modernisation without having people having to take a leap of faith into crypto.

[bald_pig]

Bitcoin supporter here.

 

As adoption increases I can see how bitcoin could possibly change the world. It wont happen over night but in 10 to 20 years who knows?

 

It's been around since 2009, it's had it's chance...

[stevewill6]

BTC is not the best crypto for day to day payments. The lightning network is designed to do that but its new and it will take time for people to build trust in it.

[TwistedHelixis]

It's been around since 2009, it's had it's chance...

 

The 5 Phases of Bitcoin Adoption

(1) Experimentation Phase. (2009–2010)

2) Early Adopters Phase. (2011–2013)

(3) Venture Capital Phase. (2013–Present)

(4) Wall Street Phase. (2015?)

(5) Global Consumer Adoption Phase. (?)

[mikes]

The 5 Phases of Bitcoin Adoption

(1) Experimentation Phase. (2009–2010)

2) Early Adopters Phase. (2011–2013)

(3) Venture Capital Phase. (2013–Present)

(4) Wall Street Phase. (2015?)

(5) Global Consumer Adoption Phase. (?)

 

Or could it be...

 

[DrCheese]

Personally, I just see crypto as a big pyramid scheme.

No different to Herbalife, or how everyone on Facebook seems to be selling Avon after being recruited by a friend who gets a cut of their recruitee...

 

lol, exactly how I see it - It's a male (predominately) version of an MLM scam scheme. The same cult like vibes, the same nonsense spouted... "YOU JUST DON'T UNDERSTAND IT" and so on..

[browolf]

I managed to buy a stepn walker shoe for fairly cheap considering what they used to be. Apparently china getting blocked caused a big crash.

 

It gets approx 8.5 tokens a day at level 7 for 2 energy that lasts 10mins and takes ~23hours to recharge. The tokens are worth approx $0.6 on solana but I'm using them to upgrade it. The aim is to make enough tokens to buy another shoe to get 10 more mins etc.