Miners can NOT add to bitcoins supply, steal funds, etc and still be complying with the Bitcoin protocol. I think he may have meant that miners/mining pools can collude can perform a 51% attack and double spend on the network. In the past there were worries that ISPs could spoof mining traffic to d...

I know this post isn’t kbg’s answer and I don’t see a question here after this response so let me just say that I will not further engage with posts that are not serious in nature and without questions or challenges even if I am quoted. I hope this does not disuade those who are serious in engaging...

Sigh. https://www.independent.co.uk/life-style/gadgets-and-tech/hackers-crypto-bitcoin-heist-poly-network-b1901986.html This is about Poly Network, not "bit coin". https://nypost.com/2021/06/24/brothers-disappear-with-3-6b-in-bitcoin-in-alleged-heist/ This is people giving their bitcoins t...

From a superficial sense BTC has no counterparties, but in a philosophical sense miners are the ultimate counterparty. They control the network. I love the "well I can always spin up a node" argument. If you're not proving work, you're irrelevant. Most people making this argument aren't p...

Honestly, my gut sense is BTC is a modern day tulip and it isn’t going to end well. But these questions are more like, is the tulip in a pot with good soil or is it cut and in a water vase I just got from the florist and it’s dead in 7-14 days (metaphorically). Have you thought about what would nee...

Here’s one. What does happen if electricity goes out? Realistically unless we are in Mad Max world the lights don’t go out globally. Does storage then become a function of the physical disk space where a token resides and getting it supplied with electricity? So here’s a scenario not totally implau...

present day $600M type thefts/hacks out of the bit coin algorithm would simply scale This is completely false. Bitcoin (or what you seem to think of as "bit coin") has not been hacked for loss of funds. Individuals holding bitcoins in insecure ways have lost their coins. If I leave my gol...

seajay wrote: ↑Thu Aug 26, 2021 4:42 pm Gold fits into that category, a computer algorithm (bit coin) does not.

Can you explain why not?

Also, when gold price goes up, MORE gold is produced. When bitcoins price goes up, no more can be produced.

One cool option here is Unchained Capital. https://unchained-capital.com/

They allow you to purchase bitcoin right into a multisignature wallet, eliminating single points of failure. They have software and support people that will help set it up for you.

I would add another book reference here: The Sovereign Individual: Mastering the Transition to the Information Age https://www.amazon.com/The-Sovereign-Individual-audiobook/dp/B07TWNP9NB/ref=sr_1_1?dchild=1&keywords=sovereign+individual&qid=1629897656&sr=8-1&x=0&y=0 Thanks I'll ...

Coinbase is fine IMHO. Stay with BTC IMHO.

I've seen some policies that in theory should have been a nightmare for people but it seems many/most people just get used to it and it becomes the new normal. Complete governmental control of your life seems hard to not be a nightmare. And complete control of the money gives them that. Maybe at fi...

I think bitcoininthevp makes a great point that all stores of value are actually greater fool assets. All stores of value can be overvalued at a given point in time only knowable in hindsight so I think it goes back to time preference. Paying 30% more for gold 100 years ago doesn't seem like such a...

CBDCs seem inevitable to me. CBDCs also seem to me one of the biggest threats to humanity that I can imagine. Government controlling your tax rate based on political ties. Your money expires. Limits to how much you can spend on meat in a month. Cant send funds to that guy that said something bad abo...

As mentioned, you can use options. Buy put spreads or sell call spreads.

You could also buy bitcoin and then short the futures and capture the premium. Not a short play persay, more market neutral.

I hope you made some profits on the 65k->28k moves.

Ok, so after months of listening to crypto lectures and playing around with different platforms I've been converted. I see the groundbreaking and revolutionary promises this technology can bring to our lives. I'll add however, that besides an alternative store of value, bitcoin is pretty useless an...

What is the problem of stablecoins that you are trying to solve? Fedcoin (CBDC buzzword) is not going to be anything like a cryptocurrency in that the Fed will want complete control (allow certain transactions, block others, etc). Current stablecoins (USDC, USDT) that are backed will probably be reg...

I just don't see how "anonymity" and "technology that immutably and forever keeps a complete record of all transactions ever" go together at all. Pseudonymous is a more accurate term. There are identifiers on the blockchain (addresses) but they dont "need" to be tied t...

In Ayn Rand's Atlas Shrugged, the most productive members of society grow tired of carrying the yoke. The value of their productive effort is increasingly drained by cronies in Washington. They awaken to the fact that they are responsible for keeping this anti-life system going. They realize it is ...

But how much wealth it stores has nothing to do with market cap but based on the depth of liquidity. Of course it does. How can Bitcoin, with a 21 million supply cap, store $1,000,000,000 of wealth if the exchange rate is $1, for example? So the amount of wealth it stores exactly has to do with the...

Bitcoin is anti-central bank. And thus is the enemy of governments. They largely have not understood (or underestimated?) this so far. But yes, it will continue to be banned and regulated throughout the world. But the banning of Bitcoin in some countries actually makes Bitcoin more appealing in oth...

Security : Bitcoin involves counter-parties whereas gold does not. No. Seizure resistance : Recent theft by hackers of millions of bitcoin $$$ value. Gold stored in trusted regions can have Plausible Deniability/paper trails established relatively easily. This is like saying gold isnt seizure resis...

vincent_c wrote: ↑Tue Aug 24, 2021 4:36 pm I disagree that value is subjective.

vincent_c wrote: ↑Tue Aug 24, 2021 4:36 pm Something could be valuable to you but to no one else

What can you use it for besides selling it to someone else? I've wondered this for a long time. This is basically one definition of money. Something like "The most saleable goods are the likeliest to become used as a medium of exchange and eventually emerge as the money." from Menger / Au...

glennds wrote: ↑Mon Aug 23, 2021 1:59 pm I have a foot in each camp, I'm probably 75% long under store of value theory, and 25% trading the volatility as a shameless speculator.

People are speculating on Bitcoin's store of value (and resulting monetization).