Nobody uses XRP.

I find it laughable the creators of XRP had to bring on more investors because the money they raised from selling XRP no longer supported XRP like it was ****ing suppose to.They need more money to do that?!?!?!?!

This is what makes BTC so beautiful. It's just so poetic with no creator and all.

The risk is hard to define, 5% is usually a defined risk type of return for most people. To start, look at:

> Past reliability of similarly structured products
> Incentives that exist for promoters, users, attackers, etc
> Apply a general model of fragility, has there ever been a 'stable' decentralized product that didn't break?
> Recourse and expected recovery rates when something happens
> Buffer for unknowns that are outside your ability to model/understand

Whenever someone talks like this I check out. I think I'm smart enough to know I'm not just dumb to not understand the words your touting

Why are all the bitcoin non believers frothing from their mouth when talking about it?
Are they so benevolent that they waste months of their own free time just to educate us and help us get out of the ponzi?

To be fair more Bitcoin believers are frothing from their mouth when defending it, most non believers are just dismissive and making arrogant remarks about volatility and governments shutting it down.

They hate us caus they aint us

Believers can gain something by frothing (spread the word, more adoption). Non believers gain zero (unless they are short). Actually they lose their valuable time in life for no reason so it's massively -EV for them. So they are stupider then we thought.

can't tell if a level

This is a question that gets posed in this thread from time to time and I’ve never seen anyone give a satisfactory answer. Would any of the posters here that hate Bitcoin mind explaining why they don’t just opt out of the whole space?

There are many, many crypto currencies that I think are complete garbage. Even very large ones with huge market caps... but I can’t imagine going into the XRP subreddit and announcing that I think it sucks. Why would I go into the altcoin thread to say XYZ coin is a scam when I can just ignore it instead with zero time or money spent?

I don’t believe in elves, but I can’t imagine ever saying those words to anyone (outside of this one sentence here) because it costs me nothing to just live my life under the assumption that they don’t exist. I don’t need to defend my position and I’m not mad at anyone for believing in elves. I can just happily exist, and even buy coffee in an elf-free world.

Fresh defi hack in today, an example of the general point I was trying to make:

then

finally

Saying no one here can understand these things isn't a personal attack, not does it imply I do. It shows the inherent complexity behind these that naturally creates systems no one is really capable of controlling. Same concept applies to BTC as well as some shady alt defi setup.

DeFi yield farming is nothing more than leveraged gambling and has nothing to do with Bitcoin. Please stick to being paper short Bitcoin only here please.

Flash: China gets busted for having 83 metric tonnes of gold bullion that was nothing more than plated copper ingots.

Plated copper ingots have real world utility.

China did them a favor.

it wasn't China but a Chinese company that used it as loan collateral

but it did take me down a scary rabbit hole...
https://www.alibaba.com/product-deta...552840305.html

Reports say the founder of the company was a former high ranking PLA crony who can basically do anything with tacit impunity from the CCP nowadays (unconfirmed).

tl;dr

BTC > Ingots


Sent from my iPhone using Tapatalk

I don’t get it, are ingots less shiny than gold?

I like bitcoin but 1 thing is stopping me from seeing mass adoption and that is the "seed phrase" or in other words keeping your bitcoins safe and secure.

If a hacker or thief gets your phrase, you will lose all your money.

I just can't see bitcoin ever catching on. You'd be worried all the time if you had anything significant stored.

Not only that, there are several other things such as your wallet/computer/phone simply getting hacked.

You could potentially lose your seed phrase. And if you can't run to anyone when all your money is suddenly gone, well, honestly I just don't see people using it...

Just seems that too many things can go wrong, which is why this won't catch on for 99% of people. End of the day people are stupid, there's just no way they are doing all this complicated stuff.

Crypto banks might be a possibility, similar to what we have now.

I still think it will be around for a while and fill in some niche store of value for the rich. People like to trade it and if the volatility continues, I see no reason why people won't continue to trade it. But mass adoption, they really need to come up with a better solution to keep your money safe.

Multisig is extremely powerful. It's just so early with regards to multisig solutions yet, but it doesn't take that much creativity to come up with robust solutions for key management that way.

I think you are missing the entire point... there ALREADY is mass adoption of bitcoin as a store of value.

Also, the idea of a... 'crypto bank'... goes against everything the block was developed for. Defi or decentralized finance has no centralized control points and it's a peer to peer transaction or smart contract.

And before you say bitcoin is far to limited, each bitcoin was designed to mimic golds valuation and is fractional by nature... the smallest fraction thereof is one satoshi or .00000001 of a bitcoin.

I'm already closing in on owning my second full coin... and if it drops to 7,000 OR 3000, I will fill up with more.

No single company owns 80+ tonnes of gold bullion.

A++ post

correct, it was gold plated copper

they also defrauded chinese banks and insurers as well and those certainly are government

Define "mass". I would say it's niche at best, but I'm willing to be educated.

They just added the question.
Per US law on auditing and unreported income, they work in 3-6 year timelines. Watch and see what comes next with the IRS and the Crypto space...

Or, to put it another way, a van pulls up down the block and a guy starts to surviel your house with binoculars... maybe he's there from Publisher's Clearinghouse to give you a prize, Pollyannas will say there's nothing to worry about, you have no PROOF he is up to no good, but you know better... You're not naive.

The IRS taking this tack is blatant. It's a tax fraud trap and it's going to start ensnaring people soon...

Unrelated story: I have dual citizenship with another country and for a period of time, I knew several people (same situation) who started having IRS troubles. It was right before a big internal push targeting people with offshore bank accounts. Even people who were super-duper clean on everything had to take the massive amount of time and energy to deal with inquiry after inquiry, audit after audit. Years later, it was revealed that yeah, it was definitely a 'thing' at that time with the IRS. That too is an issue they put right on the tax form.

in:re IRS and crypto, wait and see. You'll see (either personally or through rapidly increasing reports of people on crypto forums). That's all I can say. I wish there was a window willing to book action that I'm wrong.