Bitcoin and Crypto Thread

Blade Runner said:
Are there any paper trades of esoteric coins (I don't think there are)? It seems I have to use miners to leverage a BTC rally into next year ... for the crappy fiat game where they still take 20% from me, unless I can wash that with losses, such as I have from shorting the market last year lol
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I think you’re probably way too late to be a miner. You’re better off just buying the coin you were interested in mining and selling it during the bull run next year. By the time you buy your mining gear and spend the money on electricity you’re going to want to sell your coin and be taking losses instead if profits . Unless I’m misunderstanding you about looking to mine
 
eradicator said:
I think you’re probably way too late to be a miner. You’re better off just buying the coin you were interested in mining and selling it during the bull run next year. By the time you buy your mining gear and spend the money on electricity you’re going to want to sell your coin and be taking losses instead if profits . Unless I’m misunderstanding you about looking to mine
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Yes, mining stocks. I agree with you about mining otherwise.
 
Interesting recent Altcoin Buzz Short Video of 5 Coins to 100X:

Curious the collective wisdom here of these 5 coins? RSVP here plz.

 
I own a good amount of kaspa. (It’s my biggest bag) I’m puzzled why anyone would mention it in the same sentence with a meme coin like myro. Not saying that myro can’t go up but by the time you hear about any meme coin like bonk or myro or doge on YouTube, if you buy it you are the bag holder because it’s already mooned and you’re too late.

Only buy a meme coin if you’re ok with losing every last cent of it . You may be much better off shorting myro as it falls back to a fraction of a penny

Not saying it can’t go up again but you would have likely had to buy it at 2 cents and sell at 20 cents to make your money

Edit, also Tia and kaspa are definitely not small cap coins, with a market cap of $2 billion and $3billion respectively ,
 
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I'm a Bitcoin maximalist, where I buy and hodl BTC in a wallet, but I'm open to diversifying my portfolio. I don't like the high gas fees associated with BTC. Are there other proof-of-work coins that do better with transaction fees?

I don't have any ETH, or its alt coins. What's the argument for ETH over BTC?

I also tried to get into NFTs, but they are so horrifically overvalued that I cannot bring myself to buy any. There's also no shortage of scams using NFTs. Anyone here hold NFTs?
 
staddlelateen said:
I'm a Bitcoin maximalist, where I buy and hodl BTC in a wallet, but I'm open to diversifying my portfolio. I don't like the high gas fees associated with BTC. Are there other proof-of-work coins that do better with transaction fees?

I don't have any ETH, or its alt coins. What's the argument for ETH over BTC?

I also tried to get into NFTs, but they are so horrifically overvalued that I cannot bring myself to buy any. There's also no shortage of scams using NFTs. Anyone here hold NFTs?
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If you are HODLing what do you care about transaction fees? If you need to transact, do you know you can pay 1 transaction fee, open a lightning channel, and make hundreds of transactions (up to a few hundred dollars each), for almost free?

Transactions on BTC will be increasingly expensive, and will necessarily replace the block subsidy to pay miners. There is not enough bandwidth available on the network for every human to be able to make 1 transaction per lifetime. Increasing the transaction throughput also Increases centralization, because you need more expensive hardware and data infrastructure to support that. Centralization is what leads to capture…that is how gold lost to fiat. Gold became centralized in banks, was captured by government, centralized to central banks, and now we use digital money with no cost to produce and an infinite supply.

Transaction fees, priced in fiat, next few years might be a few $100. In a decade I wouldn’t be surprised if they are in the $1000’s. Bitcoin is the most secure, and thus most expensive database in the world. It cost billions of dollars in electricity, and monetary value, to write and store 600Gb of data. But there is a good chance that data can never be destroyed, and will last longer, completely unchanged, than anything else created by humanity so far, and anyone, anywhere, at any time now or in the future, can verify for themselves that it has never been changed. While Bitcoin itself, and transaction fees may seem expensive now…we haven’t seen anything yet.
 
chance vought said:
If you are HODLing what do you care about transaction fees? If you need to transact, do you know you can pay 1 transaction fee, open a lightning channel, and make hundreds of transactions (up to a few hundred dollars each), for almost free?
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No, I didn't know that. How do I open a lightning channel and make hundreds of transactions for almost free?
 
staddlelateen said:
No, I didn't know that. How do I open a lightning channel and make hundreds of transactions for almost free?
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Most Bitcoin nodes also have a lightning node capability. If you already run a Bitcoin node, Lightning isn't too difficult to grasp. BTCSessions has good tutorials on how to set up both. He was one of the people involved in the Canada freedom convoy Bitcoin fund.

 
If you don't want to bother with doing it yourself, there are some custodial wallets that work great, of course with tradeoffs. But for keeping a few hundred bucks to buy prescription drugs or whatever, they are fine. Transactions are not as cheap as running your own lightning channels, but they are still usually less than $1, depending on which wallet and how much money you are transacting.


Lightning is also the only way to tip people on NOSTR or podcasts, since the transaction fees are so low. You are able to send very small amounts, pennies, for a fraction of a penny transaction fee. In fact, Fountain Podcast App will pay you sats while listening to podcasts, and one podcast I listen to is completely value-for-value, no advertising...only supported by listeners (Citadel Dispatch - Matt Odell).
 
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chance vought said:
Most Bitcoin nodes also have a lightning node capability. If you already run a Bitcoin node, Lightning isn't too difficult to grasp. BTCSessions has good tutorials on how to set up both. He was one of the people involved in the Canada freedom convoy Bitcoin fund.

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chance vought said:
If you don't want to bother with doing it yourself, there are some custodial wallets that work great, of course with tradeoffs. But for keeping a few hundred bucks to buy prescription drugs or whatever, they are fine. Transactions are not as cheap as running your own lightning channels, but they are still usually less than $1, depending on which wallet and how much money you are transacting.


Lightning is also the only way to tip people on NOSTR or podcasts, since the transaction fees are so low. You are able to send very small amounts, pennies, for a fraction of a penny transaction fee. In fact, Fountain Podcast App will pay you sats while listening to podcasts, and one podcast I listen to is completely value-for-value, no advertising...only supported by listeners (Citadel Dispatch - Matt Odell).
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Very cool. Thank you for the resources.
 
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