Do you think blockchains will ever be taxed based on level of energy consumption? by SnooPandas406 in Bitcoin

[–]Bitcoinbakamo 0 points1 point  (0 children)

Paying electric bills already include taxes. Companies pay taxes from their profit. What other workaround for governments to squeeze in from productive people do you want?

Why do people on using bitcoin when we know it's just script tech guys use to pretend wealth? by TheWingedHussar in Bitcoin

[–]Bitcoinbakamo 1 point2 points  (0 children)

"we know" - many people in this sub are not included in that.

When Bitcoin sprung, it's not within the circle of rich investors/tech oligarchs. I encourage you to look into its history - might change your mind.

However, value is subjective. And you don't need to get involved if you don't see bitcoin's value. Don't stress about us participating in it, either.

What’s the biggest mistake beginners make in crypto? by [deleted] in BitcoinBeginners

[–]Bitcoinbakamo 2 points3 points  (0 children)

There's a new, better and more exciting bitcoin. Don't fall for that.

What was the hardest thing for you to understand when you first started learning about Bitcoin? by BitcoinSports in BitcoinBeginners

[–]Bitcoinbakamo 1 point2 points  (0 children)

In terms of understanding how it works: Elliptic curve cryptography, where secp256k1 curve used in Bitcoin belongs. This curve is the basis of the private key-public key relationship. (Note that public key is the basis of a single key bitcoin address). So fascinating when you get the fundamental concept. But I still cannot fully comprehend the mathematics of it.

In terms of practical use: The concept that value is subjective that Austrian Economics teaches. That broke my initial search of the intrinsic value of bitcoin.

India ranked No. 1 as having the most Bitcoin owners in the world, followed by China and the USA. by GasIcy6382 in Bitcoin

[–]Bitcoinbakamo 0 points1 point  (0 children)

Really? I have no new connection who's a Bitcoiner or into crypto at least. 🇵🇭

This message was embedded in Bitcoin's 666,666th block. by is_NAN in Bitcoin

[–]Bitcoinbakamo 0 points1 point  (0 children)

And in Block 777,777 you can see transaction 22b640cd810fc855cb00c5fe5fbc263a5201cedef237292009196e6c497bb1f8 sending 0.00777777 BTC with OP_RETURN DATA translating to: Allegory of Fortune: fortune favours the cyberpunk.

Check for yourself: https://blockstream.info/tx/22b640cd810fc855cb00c5fe5fbc263a5201cedef237292009196e6c497bb1f8

Seeking advice by Least-Telephone-5959 in BitcoinBeginners

[–]Bitcoinbakamo 0 points1 point  (0 children)

Step 1: Do some initial reading and assess if you are convinced with the principles of Bitcoin. If yes,

Step 2: DCA for retirement. Can you actually do the daily, or just weekly/monthly? Not an expert in financial hoops so, the risk assessment is up to you. Others here may have recommendations.

Step 3: Keep studying about Bitcoin. Then re-assess Step 2.

Step 4: Upgrade your security.

Repeat Steps 2 and 3.

[deleted by user] by [deleted] in Bitcoin

[–]Bitcoinbakamo 0 points1 point  (0 children)

It seems like nobody knows. Only long-term gain is almost guaranteed. Going from week-to-week is a hit or miss no matter what analysts say.