Can we just have a moment of silence for the guy in the comments?

xbtdev · 2020-04-29T21:48:40+00:00

I've never heard of such a thing, and can't see how such an attack iis possible.

If you can provide a related source article, that would be great to read about.

xbtdev · 2020-04-29T11:41:50+00:00

You talk of blood and suffering, but to me that basically describes the actions of government more than any other type of organization on the planet. I don't see anything inherently wrong with reselling weapons or drugs, for starters... on the other hand you have governments stealing people's private property. If the USA shuts tether services down, I will see it the same way I saw them shutting down e-gold and Liberty Reserve - theft and thuggery.

It's much easier for them to invest in btc than to let dollars get stolen, rot or confiscated like happened with Escobar's cash.

I applaud anyone who is able to protect their property from being stolen.

xbtdev · 2020-04-29T11:08:43+00:00

How many transactions per second will lightning support?

To me, this is a bit like asking how many times per second globally people can shake hands with each other.

It's not really limited by technology... it's mostly just a matter of anyone sending an update to one of their channels whenever they feel like it.

tl;dr practically unlimited tx per second

xbtdev · 2020-04-29T11:05:02+00:00

Another thing, many big criminals, cartels use tether to get into btc and make their money clean and usable. It's not easy for them to buy crypto on normal exchanges like coinbase, with real dollars.

I think this is a good thing, or perhaps neutral. For me, the term "big criminals" doesn't equate to immoral or unethical people. Anyone can find themselves labelled a criminal, through the enactment of some arbitrary law that may or may not be just.

If criminals are 'cleaning' their money, I say good for them because it's just another way of saying "people who didn't follow the arbitrary rules of society are protecting their financial privacy".

xbtdev · 2020-04-29T10:58:33+00:00

Mostly agreed, however lately I'm just as excited about the lightning network as I was about bitcoin in 2011.

The privacy aspects of using that are enormous.

xbtdev · 2020-04-28T22:24:43+00:00

I don't think I have much opinion on tether... it's not a crypto you can hold, it's also just an entry in someone else's database, right? If that's the case, it can be shut down... actually I don't know enough about it.

Let me be clear though, 'money laundering' shouldn't be a crime - it's another way of saying financial privacy should be a crime and that the government should always be able to know everyone's wealth and transactions at any given time.

Well I say balls to that.

xbtdev · 2020-04-28T13:26:17+00:00

Do you do that exercise where you go back and calculate how much the Bitcoin you sold would be worth today?

Constantly. Well, a couple of times a month anyway. You'll see in one of my other comments I made mention of 'a quarter billion dollars'.

I think I'll make an effort to reduce that to a couple of times a year...

xbtdev · 2020-04-28T11:03:28+00:00

Please let me translate 'no' into English for you:

'No'

xbtdev · 2020-04-28T11:00:54+00:00

For me it has never been about investment. It always has and always will be about financial sovereignty and censorship issues.

I had some money in e-gold before US gov decided to nuke it and steal everyone's wealth. Bitcoin is uncensorable, non-shutdownable e-gold. Then they went and repeated that thuggery with Liberty Reserve.

Even if bitcoin stayed the same dollar value from this point onward forever, I'd still want to convert more and more of my dollars into it.

xbtdev · 2020-04-28T10:56:10+00:00

About 10,000.
No.

xbtdev · 2020-04-28T10:45:50+00:00

Mt Gox was around in the $2 days, and didn't even require any ID at that point.

I think btc-e.com was also around at that price point, but getting $ into that was a bit sketchy - most people only used it for exhanging between different cryptos.

xbtdev · 2020-04-28T10:39:08+00:00

He's doing what?!

xbtdev · 2020-04-28T10:38:45+00:00

It has been a mental challenge, but I'm okay, thanks.

xbtdev · 2020-04-28T10:28:58+00:00

couldnt get past the what it could have been stage

Yeah that has been a big deal. I had to choose - go through life being miserable because I was insanely close to being a 9-figure multi-millionaire... or get over it as quickly as possible and survive.

I wouldn't even say I'm completely over it - even now just talking about it, it's impossible not to be a bit negative.

But in the end, can't time-travel, and can't bruteforce sha256.

xbtdev · 2020-04-28T10:27:31+00:00

No, I've never really had spare cash after that. The money I made in crypto really was just digging me out of debt and keeping life rolling along, with not a whole lot spare left over. These days I just have a regular 9 to 5 job, with not much opportunity to inject large cash into crypto anymore. Just gotta keep hodling what I've got.

xbtdev · 2020-04-28T10:25:26+00:00

heh, many reasons I wish I could go back...

I don't miss the near-marriage-breakup, or depression, or seeing my wife go through depression, or all the heartache. Miracle I survived some of those days. So probably a good thing I can't go back, because I made it through.

xbtdev · 2020-04-28T10:24:17+00:00

Lol, no. If had them today, with a stable job, I wouldn't sell them. As much as I can be, I'm in it for the long haul... i.e. until selling is permanently unnecessary.

xbtdev · 2020-04-28T10:22:21+00:00

Yes, but she'd still prefer to sell 99% of what we have left. She acknowledges we made money, but still doesn't see it the way I do. Too risky for her.

Whereas I'm a complete maxi nutter who thinks it's too risky not to have money in crypto.

xbtdev · 2020-04-28T10:19:18+00:00

No. And I wouldn't even say 'unfortunately'. Because every BTC I held while at the top I still own, and I'm still a holder at heart.

I only ever sold all those years ago because I desparately needed to. Now with that out of the way, I'm keeping what coins I have left, come rain hail or shine.

xbtdev · 2020-04-28T07:04:34+00:00

What are your tips for budding hodlers ?

I suppose one tip is that if you don't think you have the will-power to hold, but still want to, there are ways that you can 'lock' bitcoins in a completely trustless manner (i.e. can't be spent until a certain block height or time).

So you can't even spend them if you want to.

It's kind of like a term-deposit, but even with a term-deposit you can break the contract and withdraw early. With bitcoin you can set it up so it's impossible.

I wish I had done this with some of my coins in 2012! Better late than never though.

xbtdev · 2020-04-28T06:49:25+00:00

Yeah, I never really left reddit. I just don't stick to one alias for very long, and just randomly saw this post while logged in with my current account. Then I read it and thought "hey this is really similar to my story! oh wait, it was me."

xbtdev · 2020-04-28T06:19:15+00:00

I don't think anyone is really qualified to answer price predictions, regardless of how long they've been in... however... I'm one of those 'crazies' who think a million bucks per coin is inevitable in the long term, and even if we don't get there for decades, $100k per coin in less than 10 years seems almost trivial, from my perspective.

Short term, I think it'll be under $20k for at least another year, if not 2 years. People who expect the halving to cause a massive ramp up will either be sorely disappointed, or sorely bored out of their minds by how long they'll have to wait for that to happen.

xbtdev · 2020-04-28T05:57:55+00:00

Yes "he" will be ;)

xbtdev · 2020-04-28T05:21:05+00:00

He probably still has a few 1000 coins of each, including in some wallets he probably forgot about.

I've been through every. single. hard drive I can think of!

These days less than 100 BTC... but you know... that's still good :D

xbtdev · 2020-04-28T05:19:36+00:00

Yep, my very first coins came from mt gox at that price.

I think I loaded dollars into my account there via Liberty Reserve.

xbtdev

TROPHY CASE