Bitcoin and Crypto Thread

mountainaire said:
I've decided to do the guys here a solid by not buying bitcoin, as it would almost certainly crash the next day if I did. As long as I don't buy it should keep going up. I'll make sure to post a warning for the people here if I decide to get into bitcoin, so you all can sell before the big crash.
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I have also decided to do the guys here a solid by buying bitcoin, as it will most certainly go up the next day when I do. As long as I buy it, it will keep going up. I'll make sure to post my unlimited gains for the people here in hopes they too will buy bitcoin before the next big bull run. I wouldn't want anyone here to miss out on a free, unlimited supply of easy money.
 
PurpleUrkel said:
Why would someone need to secure or "protect" one's bitcoin seed phrase when it is already the most perfect form of currency ever invented that is impossible to trace, steal, confiscate, or lose?
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Bitcoin is a tool. Yes, you can use a tool with no training but it will be less effective and possibly dangerous.

A person with no training or experience can walk into a gun shop and buy a pistol for self defense - they will be marginally able to defend themselves and also have a chance to negligently shoot themselves or a loved one.

With training, they will be more effective, and less likely to put bullets where they don’t belong.

Having a written seed phrase is one way to store bitcoin, but it is only one of a multitude of ways that are appropriate, depending on your physical security and preferences.
PurpleUrkel said:
It's just one goal post shift after another with a constant 150 page learning curve. The never ending time sink scam that is bitcoin... "It's the most secure form of money in human history, but no, wait, if you want to make it more secure even though there's nothing to worry about because it is unpenetrable and impossible to misplace or lose, buy a washer and dryer and some seeds and then crush the seeds with a stamping tool and off ramp them into a hot pocket."

Peak Clown World. Honk! Honk!
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With great power comes great responsibility. Owning bitcoin is an enormous responsibility - many people are afraid of that level of responsibility, and would rather an ETF or an exchange own it for them.

You are packing your own parachute, pre-flighting your own plane, and rigging your own belay rope. You had better know exactly what you are doing or there will be consequences - there is no re-do and no customer service. Once you jump out of the plane, or go over the ledge, whatever happens is a direct result of how serious you took that responsibility.
 
chance vought said:
With great power comes great responsibility. Owning bitcoin is an enormous responsibility - many people are afraid of that level of responsibility, and would rather an ETF or an exchange own it for them.

You are packing your own parachute, pre-flighting your own plane, and rigging your own belay rope. You had better know exactly what you are doing or there will be consequences - there is no re-do and no customer service. Once you jump out of the plane, or go over the ledge, whatever happens is a direct result of how serious you took that responsibility.
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I've long since given up trying to Orange Pill my friends and family, but I remember explaining the self-sovereignty benefits of Bitcoin, and being surprised that this was perceived not as a benefit (as I viewed it), but as a drawback. It really confused me.

I remember explaining the respective benefits and drawbacks of self-custody vs. using Coinbase to one friend, and he said that if he was ever to get some Bitcoin (he still hasn't) he would definitely go with Coinbase over self-custody -- "I don't trust myself," he said.

Some (most?) people want their hand held.
 
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