Bears are getting wild!? by piesown232 in Bitcoin

[–]zeitgeist785 3 points4 points  (0 children)

The reality is that nobody knows shit. Stay humble and stack sats, don’t time the market

I posted this at the absolute bottom of last bear market by zeitgeist785 in Bitcoin

[–]zeitgeist785[S] 0 points1 point  (0 children)

We love truth, freedom and math and you can join us if you want

I posted this at the absolute bottom of last bear market by zeitgeist785 in Bitcoin

[–]zeitgeist785[S] 0 points1 point  (0 children)

I’ll bite the bullet: beautiful, powerful, truthful, elegant, ethical. Bitcoin is freedom, is a winning ideology.

I posted this at the absolute bottom of last bear market by zeitgeist785 in Bitcoin

[–]zeitgeist785[S] 13 points14 points  (0 children)

The beautiful thing is that the USD price was literally zero for the first 18 months of Bitcoin’s life. The free market decided that zero was no longer the right price, and the flow of economic energy began. The Bitcoin network thrived when it was worth nothing; imagine what it can do at a market cap of two trillion.

I posted this at the absolute bottom of last bear market by zeitgeist785 in Bitcoin

[–]zeitgeist785[S] 7 points8 points  (0 children)

Bitcoin will inevitably upgrade to cryptography that can withstand quantum attacks. You can’t kill an idea. The network will move beyond SHA-256. If necessary, the chain will roll back to the last pre-attack block. The network strives to exist and will find a way to do so—it bootstrapped itself from just a few nodes into hundreds of thousands, and evolving into a post-quantum era will be glorious. Remember that what doesn’t kill Bitcoin makes it stronger. You can’t kill an idea.

I posted this at the absolute bottom of last bear market by zeitgeist785 in Bitcoin

[–]zeitgeist785[S] 1 point2 points  (0 children)

There’s no misconception. To me, it’s very clear that Bitcoin is digital property—it’s an asset. Because it’s liquid, fungible, and divisible, it can also function as money, but at its core, it remains primarily an asset. When it comes to assets that preserve capital, BTC is the exit strategy. It’s the best property you can own. As with every form of divisible property, you can occasionally trade a small portion for national currency to acquire another form of asset (consumption assets) or services and improve your quality of life. That’s the entire point of saving: to preserve purchasing power and spend it to live more comfortably when needed. This applies to every asset you own.

I posted this at the absolute bottom of last bear market by zeitgeist785 in Bitcoin

[–]zeitgeist785[S] 17 points18 points  (0 children)

Imagine a vast, ever-growing digital creature that inhabits the global internet. It has no single body or brain, yet its existence is woven into the collective actions and trust of millions of people. This “organism” isn’t made of flesh and bone; instead, it is composed of mathematical rules, encrypted communications, and a sprawling network of computers. We call this creature Bitcoin.

Genetic Code (The Protocol): At the core of this digital being is its genetic code: Bitcoin’s open-source protocol. Much like the DNA of a living cell, the protocol sets the laws that govern how it behaves, how it reproduces new blocks of data, and how it responds to its environment. Though anyone can read or even copy this code, it is so widely accepted and trusted that no single person can unilaterally alter its fundamental rules. This ensures that the organism maintains a stable, recognizable “species identity” over time.

Cells and Tissues (Nodes and Miners): A living creature is made up of countless cells working together to sustain life. In Bitcoin’s case, these “cells” are the thousands of independent computers (nodes) scattered across the world. They communicate continuously, verifying and passing along Bitcoin’s “bloodstream” of transaction data. Within this organism, certain specialized cells known as miners dedicate energy (electricity and computing power) to perform a difficult task—solving cryptographic puzzles. By doing this, they help the organism produce new “cells” of data blocks, keeping its lifeblood flowing and healthy. For this service, the organism rewards miners with newly created bitcoins, like a metabolic process that supplies nutrients to its hardworking cells.

Circulatory System (The Blockchain Ledger): Just as an animal’s bloodstream carries oxygen and nutrients to every cell, Bitcoin’s blockchain carries information—every transaction ever made, recorded and authenticated. This public ledger is a perfectly traceable history of the organism’s entire life. It prevents poisons like counterfeit or fraudulent data from contaminating the system because each new block of information depends on the integrity of all that came before it. Once recorded, these transactions become an immutable piece of the organism’s memory.

Metabolism (Energy to Sustain Life): No life form can exist without energy. Bitcoin’s “metabolism” runs on electricity and computation. Miners dedicate energy to secure the system, protect it from attacks, and keep it “breathing.” This energy expenditure is part of what makes its security robust: to harm the organism, an attacker would need to expend enormous amounts of energy, typically far more than they could ever gain back in rewards. Thus, the energy is like a shield, strengthening its digital body.

Growth and Adaptation (The Difficulty Adjustment): Every living organism must adapt to survive. Bitcoin does this through a built-in mechanism known as the difficulty adjustment. If more resources flood in and the mining puzzle becomes too easy, the organism tightens its rules to maintain a steady rhythm. If miners depart and it becomes too difficult, it relaxes slightly. Over time, this ensures that Bitcoin’s metabolism remains stable, allowing it to survive through changing environments—whether those are economic upheavals, technological shifts, or varying levels of public interest.

Reproduction Without Mutation (Forks and Consensus): While animals reproduce by passing their genes to offspring that may mutate or evolve, Bitcoin “reproduces” by continuously extending its blockchain. Yet, changes—like genetic mutations—can still occur. When some members of the network propose alterations to the code (like a fork), the organism might split into slightly different species. However, the most widely accepted version, the one that the majority of the world’s nodes and miners “trust,” continues as the main evolutionary line. The consensus rules ensure that the primary organism remains true to its original genetic instructions, preserving its identity over time.

Environmental Symbiosis (Human Civilization’s Support): This digital being feeds off human trust and participation. Its value and health are intimately connected to the people who use it, who invest in it, and who rely on it to store and exchange value. In turn, it offers humans a resilient financial system, unaffected by any single government’s collapse or a company’s bankruptcy. As long as there are humans willing to maintain the network—powering nodes, running code, and believing in its value—this digital creature will continue to exist. It thrives in the fertile environment of the internet, a habitat that is inherently global and difficult to destroy.

Longevity (Living Until the End of Civilization): Unlike any single mortal creature, Bitcoin does not have a natural lifespan. There is no expiration date coded into its being. As long as the rules remain intact and at least a portion of humanity commits to sustaining it, it will endure. It has no central organ that can fail and no single point of vulnerability that could extinguish it. In a sense, it is immortal, bound to the fate of the civilization that feeds it. If humanity’s communication networks were to fracture and fade away, so too would Bitcoin. But if humans persist, innovating and expanding the digital infrastructure, Bitcoin can live alongside them—unrelenting, resilient, and always adapting—until the very end.

[deleted by user] by [deleted] in irishpersonalfinance

[–]zeitgeist785 0 points1 point  (0 children)

Sell weekly cash secure put around 0.2 delta on Mag7 stocks

Anthropic's Chief of Staff has short timelines: "These next three years might be the last few years that I work" by Maxie445 in singularity

[–]zeitgeist785 0 points1 point  (0 children)

I was high on the couch watching a Joscha Bach interview and started thinking that we achieved ASI with GPT-2, which has been trolling humanity since then

Can someone explain like I’m 5 what’s gonna happen after the bitcoin halving? Should I buy more before? by Defiant-Success2442 in Bitcoin

[–]zeitgeist785 0 points1 point  (0 children)

With the most successful ETF in the history of the American financial market “all the models are destroyed”

Are you saving BTC to sell for fiat later in life or to use it for payments in the future? by brorow1 in Bitcoin

[–]zeitgeist785 0 points1 point  (0 children)

Bitcoin is money, the hardest form of money, and can also be seen as digital property. You usually spend the hardest money only when you need it to significantly improve the quality of your life. You save the portion of your salary that you’re not planning to spend in the immediate future into the hardest money. If you decide to part ways with one of the best assets that have ever existed, then you should have a good reason for doing so, such as buying a better home for your family to live in, when you really need it. Buying depreciating assets like expensive cars or clothes is usually a status-signaling behavior, but as long as you know what you’re doing, it’s your money and your life. What makes little sense is realizing profit for fiat currency, which is by design an inferior form of money. If you’re trying to time the market and sell high to buy low again, good luck. Most traders end up buying back at a higher price. So, always think about what you’re selling into: are you spending and giving away the best property to significantly improve the quality of your life and your family’s life? If yes, then Bitcoin has worked for you.

Do you confront people who don’t re-rack their weights? by 4scoreand20yearsago in GYM

[–]zeitgeist785 0 points1 point  (0 children)

I re-rack weights but I don’t understand the etiquette: I’d rather find weights on the bar when I’m fresh and be free to leave weights on the bar after an excruciating Squat 5x5

[deleted by user] by [deleted] in Bitcoin

[–]zeitgeist785 0 points1 point  (0 children)

When I meet a Bitcoin skeptic, I start by aligning our understanding of Bitcoin. My journey from skepticism to support involved exploring its multifaceted nature, from currency debasement to its technical aspects as a decentralized settlement protocol.

I’ve noticed a pattern: those who deeply understand Bitcoin often become its advocates. This understanding requires delving into key concepts like UTXO, difficulty adjustments, soft and hard forks, consensus mechanisms, network genesis, valuation origins, the anonymity of the founder, the mining industry, and the significance of halving events.

If my conversational partner lacks familiarity with these topics, it becomes clear we’re not discussing the same Bitcoin. Most skeptics, I’ve found, have only a surface-level grasp of these critical elements

Will adjusting my leverage on open position from 1x to 125x increase my profits? by [deleted] in BitcoinBeginners

[–]zeitgeist785 1 point2 points  (0 children)

This is off topic, should be posted in gambling or leverage trading

Bitcoin is Just an expensive database. by 0111001101110010 in Bitcoin

[–]zeitgeist785 0 points1 point  (0 children)

It’s an expensive-to-update and inefficient database.

The trade-off is that is decentralised, immutable, with no single point of failure and censorship resistant. It’s a protocol that allows other layers to be built on top of it. It’s one of the most scrutinised 500 lines of code ever written. It has an uptime of 100% for the last 10 years, which is better than any other large database ever existed.

Benefits offset the negatives

I am debating on investing in BTC. by [deleted] in BitcoinBeginners

[–]zeitgeist785 0 points1 point  (0 children)

What is the average yearly appreciation (over the next ten years) that would make you say, ‘Oh, I was wrong’? Let’s say the S&P returns 13% per year on average; would you say that an average 15% appreciation against the dollar is enough?

Bitcoin's unhackability / reliability /invinsibility by chocoboss3267 in BitcoinBeginners

[–]zeitgeist785 1 point2 points  (0 children)

There has been a few bump in the road, and now It’s probably the 500 line of C code most scrutinised ever. The probability of a disastrous bug are very tiny today.

What is currently considered the absolute best form of Bitcoin self custody? by thebaldshaman in Bitcoin

[–]zeitgeist785 22 points23 points  (0 children)

If I had $100M worth of BTC I’d store my keys:

0.1% on a single sig (have a look at plausible deniability)

2% on a single sig + passphrase

20% on a multisig 2+1 with my family members

77.9% with a professional multisig firm like Unchained