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I really cannot comment on those two, I have never used them.Originally Posted by Toadstool
Perhaps I was being a little harsh on Coinbase. They are in fact the first port-of-call for most people getting into cryptocurrencies. Their platform interface is very user-friendly. The other exchanges, such as Binance, offer a far bigger selection of coins but can be a little daunting for any newbie.
I use Coinbase.
Pissed off that I sold 2k at around 30k.
Still doing well with it though over the last 3 years.
It is still very much in its infancy.
I would certainly recommend buying a little bit here and there (what you can afford to lose).
I think this 'not your keys not your coins' mantra has some merit (in the sense that people should be aware of any risk) but it's a blocker to adoption and scares newbies from getting involved. The future of crypto is not about appealing to a few people who stuff cash under their mattress because they don't trust banks, it is going to depend on the crypto space creating further protections against fraud (rugs, hacks etc.) to ensure crypto and defi isn't a scary place to be.
https://www.independent.co.uk/climat...-b1819545.html
'Cryptocurrency now uses nearly as much electricity as Argentina'.
They've been living the dark since 1921. If ever a country needed to get away from the central banking cartel and use Bitcoin, it's them.https://www.independent.co.uk/climat...-b1819545.html
'Cryptocurrency now uses nearly as much electricity as Argentina'.
But on a serious note, these all feel like paid for articles and its just a bit arbitrary. The crime smear hasn't worked, try something else.
I've seen many of these before, london underground escalators can power wales. A starbucks coffee supply chain is the equivalent of 30 mobile phones charging for a year. Imagine how much electricity it cost to make all the Easterenders shows, and then add all the electricity from those people who watched it...people want to talk about waste, let's do it
I’ve just spoken to the barmaid at my local and she just confirmed that when they reopen I can’t buy my lager with Bitcoin
Also the local Ladbrokes refused to let me pay for my 50p each way patent with a crypto currency
And alas the greggs down the road scoffed at my suggestion that I pay for my steak bake with the keys to my bread wallet
I don’t think crypto currency’s are the way forward for me so I’m out!!
Probably wouldn't be able to use US or Canadian Dollars either, or Gold and precious metals. If its not for you, that's fine
It was that way for me too at first. However, because mistakes can be costly, I simply had to get up to speed with it all.
I still get nervous when sending coins between exchanges and wallets.
About a year ago, I foolishly allowed myself to be scammed out of 10,000 coins. I won't mention the coin's name, as I never want anyone to tell me its current value.
Ouch!
Are you a Bitcoin director, AlwaysAway2? Best, Dapps.
I’m particularly interested in the staking rewards people are getting.
I stake Zilliqa. Get just under 15% at the moment. In addition, you get a governance token called gZil for every 1k Zil you earn through staking. gZil can be sold on the Zil dex. Staking rewards when you factor gZil are presently in the region of 45%. It’s all a bit confusing when you start, but we are in a period of great opportunity, and it doesn’t pay to sit on your hands.
What kind of equipment do you need to verify transactions?
No equipment required. You can usually commit your stake to the liquidity pool directly from your wallet. In the case of zilliqa, you can use zillet or moonlet.
Thanks Steve, will look into it.
👍
I managed to get in relatively early with Zilliqa, I bought it at under two pence. I'm also staking it on zillet.io
Anyone who's in on ZIL can sit back, be patient, and watch it go up. A great project and one that's going to stand the test of time.
I would compare it to the dot com boom of the late 90s, except this time around its a lot easier for retail investors to get a piece of the pie.
For the uninitiated, a good starting point is to read Blockchain Revolution by Don Tapscott. It explains in depth how we are moving from the internet of information to the internet of value.
It will also help you to understand how and why cryptocurrencies and native tokens have a different kind of value to traditional fiat currencies, which seems to be the thing a lot of people struggle with. Get away from the idea that crypto will replace fiat currencies. In practical terms, it won't. And don't think BTC is the be all and end all of crypto, either. There are (IMO) far more interesting projects being developed as we speak: Theta and VET (already mentioned in this thread) are just two of many.
Next, I would spend time reading the Cointelegraph and Coindesk blogs. Don't worry if none of it makes sense at first, just keep familiarizing yourself with the terminology and concepts and Google what you don't understand. Even if you're not interested in investing, it's still good to understand the technology that is going to shape much of the world's digital infrastructure over the next 10 years.
As Steve says, there is an incredible window of opportunity right now to "get in at the bottom". Is it a volatile area? Yes. Would I recommend you drop 10 large ones on a meme coin? No. But in among the hype and the hot air, there are some seriously interesting projects that are solving real world problems, and there is a great chance right now to capitalize on them.
Good post!
Blockchain and Hashgraph ate going to be the only way to validate things soon.
A massive influx of retail money has done some seriously strange things to investing. I've been jumping in and out of gamestop the last few months, first time I've ever done anything akin to day trading. Crypto has basically been 5 years plus of this lunacy. If you're just the right amount of stupid and have a lot of balls there are fantastic gains to be made. I think like many I just can't get over that mental block of tying up money in something so completely loony.
Those in the thread, is your sole interest in bitcoin/crytpo an investment to transfer to fiat money at a later date?
Yes and no.
I believe everyone will have Bitcoin/satoshis eventually.
It's an acceptance thing.
The more that adopt the more will follow.
My hairdresser has some as does her sister.
Even my cynical friends are starting to reconsider.
If you buy £1,000 worth of Satoshis now you ought to be well pleased with yourself in a few years. If you control them by having your own keys.
AJMHO
FOMO, Diversification and a consideration of FIAT going tits up.
Looking up how bitcoin is bad for the planet and waay behind our growing concerns regarding climate change is a fun read.
Just read through the thread. It just all goes to show to me how complicated and risky all this crypto currency is. I am sure that there are people making large (or vast) sums of money out of all this but there are also many ordinary people who have lost money they cant afford and are risking their future by chasing a quick buck. To me, people are basically investing in a currency that doesn't exist and cant be used in the real world. It is totally speculative, open to fraud. The people who are addictive gamblers, fraudsters and involved at the top of the chain will no doubt come out of it smelling of roses but at whose expense ? No doubt they have all already covered their dealings betting on the markets and will make money even if prices fall. Don't forget that people who have already purchased crypto currency also have a vested interest in encouraging other people to buy to try to get the price up further. When it all goes belly up it will be the people at the bottom of the chain who suffer. The ones at the top will already have sold and got out, having made their millions at everyone else's expense.
the only guarantee of long term wealth is an index fund tracker, evidence has proven it for over a century now
edit - I should have said - the closest you can get to a guarantee
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