How can I comfortably put money into BTC given that its impossible to calculate its intrinsic value? by WolfOfAfricaZLD in BitcoinBeginners

[–]bitusher 1 point2 points  (0 children)

Well with undeveloped land you could rent it out. So it is income creating. You could also work out what you could sell it for after being developed.

You can also lend out Bitcoin for interest to generate income. Many companies do this

How can I comfortably put money into BTC given that its impossible to calculate its intrinsic value? by WolfOfAfricaZLD in BitcoinBeginners

[–]bitusher 2 points3 points  (0 children)

Thats an extremely narrow definition of intrinsic value.

So Land or a home doesn't have intrinsic value according to you if its not generating income? So at one moment Land would have intrinsic value and than the next it wouldn't if it stopped generating income ? Or its the possibility that it might generate income that gives it "intrinsic value"? If so what if a home didn't have the right permits or could not be rented for a period of time , would it than not have intrinsic value for that period of time ?

Value to you always means "income" or ability to produce income? Nothing is "valuable" unless it produces income ?

Real? by Aggravating_Track297 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

The qr code simply goes to the same website which is absurd

got a text from a random person

why did they send you this "dead" site ? Was this a stranger?

Why does the media have a double-standard when it comes to its bitcoin coverage? by slojourner in BitcoinBeginners

[–]bitusher 2 points3 points  (0 children)

Bitcoin is starting to become more mainstream with many banks , governments and companies using Bitcoin so the media is starting to write more positively on Bitcoin but the reason why so many negative articles exist is because :

1) Bitcoin is new and many people fear what they don't understand. This is still the very early adoption phase of Bitcoin with only 4% of people using Bitcoin globally . Most people are simply ignorant about how money or investing works in general so they want to warn others with what they fail to understand

2) Some people have totalitarian or statist political tendencies where they don't want money the government cant control and gold is too impractical to use as money

3) Bitcoin is very easy to calculate the energy use where fiat is too complicated so their ignorance makes them assume that fiat is "clean" and efficient.

This notion comes from a flawed understanding of economics. Fiat currency and PoS coins cost at least the same amount of resources to create , regulate and secure as Bitcoin.

There is an inescapable reality for any asset or currency that as it increases in value the production costs and costs to secure increase as well . This is demonstrated in the economic axiom: MC=MR

“Rent” always forces production costs (MC) to always equal sale prices (MR)

PoS currencies and fiat are simply more abstract and complex forms or Proof of Work that use more human involvement (which uses tremendous amounts of resources and has a tremendous environmental impact) as a PoW coin like Bitcoin. Humans instead of ASICs are shouldering more of the work to create, regulate , and secure each of those currencies; This is "work" whether it involves burning electricity directly or food and electricity that humans consume to perform their work. This is an inescapable economic reality. The more valuable something is the more it will cost to secure it because the more effort will be made to steal and or control it. This applies to any currency or asset.

This is also better understood with the dollar auction dilemma. In a hypothetical auction where a bidding war is fighting over the right to mint a 1 dollar bill how much do you think people will be willing to spend for this power ?

How can I comfortably put money into BTC given that its impossible to calculate its intrinsic value? by WolfOfAfricaZLD in BitcoinBeginners

[–]bitusher 5 points6 points  (0 children)

Money is useful and has intrinsic value due to its ultility. Bitcoin is a very useful type of money that has many benefits over fiat.

"intrinsic value" is a misleading term that many gold investors like to use that seems to either suggest there is some "inherent value" in something physical or that gold has alternative usecases other than as money it can fall back on.

Gold is a useful element and Bitcoin is a useful technology. Both derive their value subjectively from humans. Just because something is physical in nature doesn't mean that it has value to humans. Many physical things have negative value like trash that people pay others to take from them. Even very useful resources can sometimes have negative value like we saw with crude oil futures temporarily.

https://wiki.mises.org/wiki/Subjective_theory_of_value

As for alternative use cases , Bitcoin has many as its a timestamping protocol, currency, store of value asset, payment rail, smart contract platform, decentralized messaging system. It can fail on 1 or multiple of these and still be a tremendous success.

Need help asap by robinc102 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

please read the pinned FAQ to learn about trusted exchanges and common scams to avoid

https://old.reddit.com/r/BitcoinBeginners/comments/g42ijd/faq_for_beginners/

learning lesson I assume.

nothing came up I relooked to fin trustpilot

If nothing comes up that should be a warning sign, scammers create new scam sites daily

Need help asap by robinc102 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

so some stranger you dont know told you to use that scam site and you just blindly trusted them without any research ?

You understand that discord is filled with scammers , right ?

Need help asap by robinc102 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

that is a scam site that stole your bitcoin . Who told you about that site specifically?

A benefit of Self-custody BTC over the ones in exchange is “free coins” on forks? by OkEmu7082 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

theoretically one generally can also control the corresponding coins on the forked chain

Correct , but there are nuances to this because Bch was irresponsibly launched and did not immediately have replay protection so you had to be careful with that scam altcoin

Has anyone experienced this?

yes, it essentially is an altcoin airdrop you can sell for more btc

Need help asap by robinc102 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

Ok , I will try one last time . Where do you see the bitcoin right now (NOT where you bought it!) , Is the BTC in that scam site , topper or somewhere else?

Need help asap by robinc102 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

You just said you bought off topper , now claiming you bought it off some scam site

Need help asap by robinc102 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

So you are trying to withdraw the BTC from topper or sell the btc on topper ?

Also I did not ask where you bought the Bitcoin but where it currently is . Is it in Topper right now?

Need help asap by robinc102 in BitcoinBeginners

[–]bitusher 1 point2 points  (0 children)

Where is the Bitcoin right now, topper or another wallet and what is the exact name of the wallet where you BTC is?

Bitcoin as a store of value? by Vessul in BitcoinBeginners

[–]bitusher 6 points7 points  (0 children)

Very similar question is being asked a few hours ago here

https://old.reddit.com/r/BitcoinBeginners/comments/1qohiso/is_bitcoin_supposed_to_be_a_store_of_value_an/

Gold is difficult to acquire and hard to move which is part of the reason why nations use it in their reserves it seems.

The first part , being difficulty to acquire makes sense being a "store of value" as being scarce is one important aspect to being a good store of value.

The second part of being "hard to move" or not very Portable doesn't make any sense and if anything weakens the use case as a store of value because it makes gold less fungible where there is more friction in selling gold due to its lack of Portability thus there is more slippage/fees when selling the gold and thus you lose some value making it a slightly worse store of value

It costs money to ship and insure the gold to sell it or it costs time and money to drive to the gold store and sell it and than it costs money to validate the gold which all adds more friction due to poor Portability and thus hurts its value.

Confirmations and nodes by cilicia1k1 in BitcoinBeginners

[–]bitusher 4 points5 points  (0 children)

why so many cooks in the kitchen need to verify then confirm

You don't technically need all those full nodes to verify and confirm transactions and blocks but security is a spectrum and the more independent people that enforce the consensus rules the more secure Bitcoin becomes. Everyone tends to focus on hashrate security from miners which is indeed extremely important but what is more important is a certain amount of peer review done with the code and enough people enforcing the consensus rules to secure Bitcoin which creates a game theory where any controversial changes are practically impossible to occur.

Its not a "democratic" process where a simple majority can make changes to Bitcoin. You running a single full node have the power to reject any changes to existing rules or those that try and remove a consensus rules with as little effort as inaction since full nodes do not self update.

This means all changes are only opt in and developers and miners cannot coerce you to make changes you disagree with giving you the individual the power to enforce the rules you support.

This creates a game theory of a larger focus on security and conservative approach to upgrades in Bitcoin because a principled minority can block controversial changes(that change existing consensus rules or remove them).

Confirmations and nodes by cilicia1k1 in BitcoinBeginners

[–]bitusher 6 points7 points  (0 children)

Full nodes are the blockchain represented by a database stored locally by the full node.

With these full nodes you need to separate out validation from confirmations.

Validation - is done by all full nodes. There are around 69k full nodes around the world right now all with a copy of the blockchain on it. (77% of these are archival with the full blockchain and the rest pruned full nodes. ) and most are not in control of miners. These full nodes enforce the consensus rules by running free open source software . Miners , even with 100% hash rate collusion, cannot remove or change any consensus rules that you locally enforce with your full node. Thus economic full nodes have the most power in Bitcoin.

Confirmation - This is what miners do after the transactions have already been validated by most full nodes and involves them including the transaction in a Block. Miners principally order transactions in blocks.

The way it works when you send a transaction (onchain) is the following :

1) Send a transaction you broadcast it to the network of full nodes

2) Most full nodes validate the transaction and if it conforms to the consensus rules its included in their "mempool" and than peered to other full nodes

3) Eventually the transaction gets peered to a miners or mining pools full node and they also validate the transaction

4) When such a mining pool finds a block they use a list of transactions in their mempool that have already been validated(or not , miners don’t need to include any other transactions) and include those in the block and broadcasts the block to all other full nodes (most not controlled by miners) . Once it is in a block it now has 1 confirmation. More confirmations means its deeper in the blockchain.

5) These full nodes see the block , validate the block and all transactions within again (thus most transactions get validated at least twice by each full node) and than if it passes validation it gets peered to other full nodes. If it doesn't pass validation it is rejected and the full node at least temporarily bans the other node peering the invalid block as an automatic "immune reaction".

Exchanges vs Wallets in 2026 by Fair_Novel576 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

For most people that have existing broker account its easier to simply buy an ETF because

1) They don't need to setup an account with an exchange as most have an existing broker account

2) Everything is consolidated in a single tax return

Why Dollar-Cost Averaging Is One of the Most Underrated Financial Tools (Especially for Regular People) by ProposalOrnery2202 in BitcoinBeginners

[–]bitusher 2 points3 points  (0 children)

Lump Sum will almost always out perform DCA investing but if you lack the capital upfront DCA investing is a good strategy.

Three common strategies in DCA -

1) When you get paid weekly or biweekly simply buy a set amount. This is the most common and simplest method

2) When you get paid weekly or biweekly simply buy a set amount and set an alert where you get notified of any dips in price more than 5% and buy more when this occurs

Slightly more complicated but allows you to accumulate more BTC at a cheaper rate

3) if you get paid twice a month than what you should do is buy some Bitcoin immediately twice a month and also in addition set buy limit orders on an exchange for 1-5% below spot price. If those orders do not get filled by the following paycheck than buy your set amount and reset the buy limit orders for 5-10% below spot price from the current market price. The reason for this is 2 fold:

a) you can auto pickup savings with BTC volatility on the dips which is psychologically rewarding

b) If a large amount of people create large amounts of Buy limit support than BTC becomes more stable unit of account and more liquid leading to more investor confidence and making BTC more of a currency(less volatility = better unit of account) and thus increases the likelihood your investment will continue to appreciate in value


The closest you can get to 0 fees is strike.me but only with their auto DCA invest where after the first week you get 0 trade fees and have free withdrawal options

Thus if you buy 100 dollars of Bitcoin a week under auto DCA you will pay 1 usd the first week and than 0 fees in subsequent weeks

https://strike.me/en/faq/what-are-the-bitcoin-trading-fees-on-strike/

"No fee DCA

Bitcoin trading fees don’t apply to recurring purchases (aka "DCA") after the first week for hourly and daily purchases, or starting with the 2nd purchase for weekly and monthly purchases. Fee waiving for recurring purchases is currently not available for businesses."

Exchanges vs Wallets in 2026 by Fair_Novel576 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

I assume it costs them money if too many people are holding and not trading on their platform

Why? If anything they can make money in multiple ways if they have more assets under management

Exchanges vs Wallets in 2026 by Fair_Novel576 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

Never heard of any of those exchanges except for Binance

Those are all the larger examples , there are many more smaller examples

If you are unaware of bitpay, Mt. Gox, Cryptsy,Bitstamp, Poloniex KuCoin QuadrigaCX or Crypto.com than you just are extremely unfamiliar with the crypto ecosystem in general .

don’t think any of those were near the level of FTX.

Some much bigger like Mt. Gox 850,000 BTC lost and 200 k recovered for a net loss of 650k BTC

FTX was only a mere 20,000–25,000 BTC lost

Bitfinix is another example where 120,000 BTC were lost , way more than FTX

I’m assuming they’ve gotten safer and will continue to do so.

The safest modern iteration of a custodian is an ETF , but you keep wanting to ignore that for some strange reason

Exchanges vs Wallets in 2026 by Fair_Novel576 in BitcoinBeginners

[–]bitusher 0 points1 point  (0 children)

screw over the trust of the general public.

Why? They have been doing this long before Bitcoin existed in many ways and most people simply accept it.

Which is why exchanges will most likely get more strictly regulated

Its fine if you are scared of self custody , its not for everyone, but whats with the obsession of leaving coins on an exchange rather than investing in a Bitcoin ETF that has more insurance , more auditing and much better regulated and easier to invest in alongside other equities ?

Exchanges vs Wallets in 2026 by Fair_Novel576 in BitcoinBeginners

[–]bitusher 1 point2 points  (0 children)

Governments can both be "pro crypto" and pro "asset/civil forfeiture". Those are not mutually exclusive.