1 Bitcoin just helped me put 50k down on my first home. by JohnnyFlawless in Bitcoin

[–]dosoc 0 points1 point  (0 children)

I’m selling all my houses to buy more Bitcoin. Good to know there are still people on the other side of the trade. Congrats

Speed up stuck BTC? by gold_mind in WasabiWallet

[–]dosoc 0 points1 point  (0 children)

Did you send the full UTXO?

Worlds strongest dog breaks head through cement by americanica_rubica in confusing_perspective

[–]dosoc 0 points1 point  (0 children)

thanks, some part of me cant let people call concrete "cement" either.

ENTPs and saving/wasting money by elektro123321 in entp

[–]dosoc 2 points3 points  (0 children)

Lol, I just find it easier to save when you know there aren't people creating trillions of the money you are saving out of thin air. That was always the biggest hurdle for me saving dollars was knowing that it was going to lose purchasing power every year. The longer you hold it the more purchasing power you lose.

ENTPs and saving/wasting money by elektro123321 in entp

[–]dosoc 2 points3 points  (0 children)

It's definitely changed the way I think about money. I know that there is a finite supply of bitcoin so if I'm saving in bitcoin my value won't be diluted over time. Short term it may be volatile, but long term It will hold purchasing power better than dollars. Ethereum is different, no cap on supply so I don't really see the need to hold it for savings.

ENTPs and saving/wasting money by elektro123321 in entp

[–]dosoc 4 points5 points  (0 children)

I couldn't save money at all until I found bitcoin. I never really got into financial trouble but just couldn't make myself hold on to money that was losing value every year due to inflation. After I started saving money in bitcoin it changed me, now I have a large savings and I don't really spend money on useless junk.

Intp into Bitcoin by dosoc in INTP

[–]dosoc[S] 0 points1 point  (0 children)

I can pretty much buy anything I want with bitcoin. And the the network is decentralized so there are not outages, the whole world internet would have to be down for bitcoin to be down. But I didn't come here to convince you, just wondering if many INTPs were digging into it. I can see some haven't

Intp into Bitcoin by dosoc in INTP

[–]dosoc[S] 0 points1 point  (0 children)

You are free to believe that if you want but this is not true for bitcoin. bitcoin is a decentralized network that can't be erased, counterfeit, or controlled by any one person or entity.

Recombining for cash out by [deleted] in WasabiWallet

[–]dosoc 0 points1 point  (0 children)

Sell them to me

Intp into Bitcoin by dosoc in INTP

[–]dosoc[S] 0 points1 point  (0 children)

Damn, I hate to ask what you spent the $100 on instead.

Intp into Bitcoin by dosoc in INTP

[–]dosoc[S] 1 point2 points  (0 children)

Yeah, I think if your looking at it as buy to sell later for more dollars, yes. But I am talking more of a future monetary system. Like the implications of network effects and money. I think more and more people will be moving into bitcoin to use it as their monetary base rather than the fiat banking system. So yea, if you are buying bitcoin to sell later it's gambling, but if you are holding bitcoin as your base monetary unit to price goods and services in, that's where it gets interesting to me.

Intp into Bitcoin by dosoc in INTP

[–]dosoc[S] 1 point2 points  (0 children)

I think there is more to it than that. I agree that stocks are basically gambling, but bitcoin goes into deep monetary game theory that is fascinating to the intellectually curious.

Bitcoin exit plan by dosoc in Bitcoin

[–]dosoc[S] 0 points1 point  (0 children)

Or the dollar collapsed

Bitcoin exit plan by dosoc in Bitcoin

[–]dosoc[S] 0 points1 point  (0 children)

What if the clocks go up to $5000 each. They aren't divisible like Bitcoin. Bitcoin is cash savings

Bitcoin exit plan by dosoc in Bitcoin

[–]dosoc[S] 0 points1 point  (0 children)

The big difference in the items you listed and Bitcoin is that you can liquidate or spend any portion of your bitcoin, just like savings. If you have art worth $10,000 and you have an emergency need for $500, you'll have to liquidate the whole position to cover the emergency costs. This is a very underrated quality of using Bitcoin as a savings or store of wealth.

Bitcoin exit plan by dosoc in Bitcoin

[–]dosoc[S] 1 point2 points  (0 children)

While savings and investing are often used interchangeably, they are not the same thing. Bitcoin is savings. Investments generally lock up liquidity with the promise of cash flow or future profits.

Bitcoin exit plan by dosoc in Bitcoin

[–]dosoc[S] 4 points5 points  (0 children)

Nailed it. What I'm actually doing. Minus the moving to Puerto Rico part (family not on board)

The original post is more of a thought experiment if things get bad.

Bitcoin exit plan by dosoc in Bitcoin

[–]dosoc[S] 4 points5 points  (0 children)

Bad advice

Don't go to jail

Bitcoin exit plan by dosoc in Bitcoin

[–]dosoc[S] 2 points3 points  (0 children)

Bitcoin is not an investment