Here are the thoughts of a lurking normie

Here are the thoughts of a lurking normie.

I was previously a complete naysayer. "whats it based on, where's the value, I dont get it. Its too valued to be used as currency now. What the fuck is this trash."

I had a little jealousy I never bought any, and never completed my mining computer shit way back in the day. But, I'm not really letting it get to me. it is what it is.

I've spent the last week or so just with my nose in this stuff. Lurking here, reading about ICO's, making a spreadsheet. I am holding about 150$ worth of coin I bought at about 11k or whatever.

I think i see the value now. Everyone I see here is just ahh ahhh ahhh REEEE all the time for this that or the other thing.

However. The REAL value here, after all this lurk time seems to be Bitcoins ability to be used to invest in ICO's and other altcoins. Using it to support and invest in other start ups and crypto businesses. Its a way for a regular guy to get out there, and invest in causes or businesses he believes are succesful without anyone getting in the middle... its awesome.

No matter what happens with bitcoin, and despite all the hype out here about it, I'm still not sure where its going to go. I think anyone that says they do is full of shit. Anyway, the entire concept of whats going on here is permanent. Genie is out of the bottle you'd say... And this concept is AMAZING. It's wonderful to be able to exist in a marketplace with little regulation and oversight. Though... maybe that will change as time goes on. Government exists for itself after all.

I'm still not sure what I really want to do here. I'm not wealthy really. I am self employed with an income of around 90 a year. I dont know. What does Veeky Forums think guys?

Ultra rare pepe included for your attention.

>It's wonderful to be able to exist in a marketplace with little regulation and oversight. Though... maybe that will change as time goes on. Government exists for itself after all.

I didn't think it was possible to be this stupid.

>I didn't think it was possible to be this stupid.

How so?

The idea that government is not going to try to get its regulatory hands on bitcoin is insane.

Crypto uses math and game theory to cut out the middlemen - banks.

Centralized, nation-scale banking has been the dominant foundation of socioeconomic world order since Bretton Woods.

Put 1 and 1 together and you understand what you'd be participating in and why it's important.

Join us.

>Crypto uses math and game theory to cut out the middlemen - banks.
>Centralized, nation-scale banking has been the dominant foundation of socioeconomic world order since Bretton Woods.
>Put 1 and 1 together and you understand what you'd be participating in and why it's important.
>Join us.


thats what I'm saying. Government/Fed must be fucking freaking out. I would not doubt if there are forces trying to undermine the market, trying to crash it. Its amazing its being so resilient in the face of all of this.

>
nice pepe
but lurk moar

>but lurk moar

I am. I am... and I will. I spend most of the day on facebook business channel. Coming here later is a pleasant change.

the main use case for bitcoin is to tempt you to lose money on alts
>again
>and again
>and again
>and again

>the main use case for bitcoin is to tempt you to lose money on alts


thats kinda cynical, it seems like there are legit companies trying to make something of blockchain tech...

Who here is just holding?

bump

you see value cause you are in the money. wait til youre out of it then make a thread

>you see value cause you are in the money. wait til youre out of it then make a thread


I'm not in at an amount where if it disappears I'm upset.

even if it all crashes, the concept here will continue on.

I'm new to Veeky Forums user, how did you get started? Any good resources? Where do you buy crypto, and do I have to buy bitcoin in order to buy other cryptos, or can I use USD?

>I'm new to Veeky Forums user, how did you get started? Any good resources? Where do you buy crypto, and do I have to buy bitcoin in order to buy other cryptos, or can I use USD?


it honestly took me awhile to figure it all out. Veeky Forums is full of self righteous assholes. get on coinbase, and buy some coins, then you can transfer them to something like binance to buy other coins.

Meanwhile in reality big pools (and now with lightning network, actual fullfledged institution including banks abd governments) control bitcoin, which is extremely centralized.

congratulations on seeing the main use case of bitcoin in 2017 when most people think "store of wealth" is valid and not just a use case of last resort
venture capital and seed funding's new paradigm is real.

>venture capital and seed funding's new paradigm is real.


its kinda like microfinance or microlending in a way... but with more volatility.

As I've stated in a thread from the other day,

BTC won't die, ever. Period. However it could still potentially crash hard in the face of a strong government regulation against it, and/or an audit of bitfinex and tether. Until either of those two things happen, we're all going upupupup.

Use BTC as your base, throw in as much of your spare change into it as possible. Use the growth earnings to buy Alts. Go from there. You can't lost right now. Just watch out. The government and the banks will do everything they can to undermine and stop this wonderful invention.

>Use BTC as your base, throw in as much of your spare change into it as possible. Use the growth earnings to buy Alts. Go from there.

What I was thinking of doing is taking the roundup mutual fund account I've been contributing to, and rolling that into bitcoin for now.

bump for thoughts from the biz

>it honestly took me awhile to figure it all out. Veeky Forums is full of self righteous assholes
I'll keep that in mind
thanks user

Welcome normie.

Don't post info that will get you doxxed.
Don't invest more than you can afford to lose.

I keep this for myself on the side: wifey doesn't need to know about my shitcoin fetish. The bills are paid, savings are added to and she is kept looking pretty.

Question from another normie. Do I just keep putting fiat into btc and other altcoins or use the profit from btc for altcoins?

>Don't post info that will get you doxxed.


new here, not new to Veeky Forums ;)

>Do I just keep putting fiat into btc and other altcoins or use the profit from btc for altcoins?


would like input as well

Yep. Centralization risks abound.

LN is a horrific, user-unfriendly mess that will require users to trust software to execute the inter-party contracts as optimally benefits them, and will definitely lead to hubs showing up because that's just human social nature. Those hubs could, as you said, likely be run by the large institutions of today. Hubs will gain in value based on their connectivity, and we'll end up with a Facebook-esque situation where a very small number of hubs completely dominate the sidechain market and can increase fees on their participants wantonly. People won't be able to get around these big hubs unless they open direct channels to the people they want to pay, which is cost-prohibitive, and won't be able to gain much value out of these newly opened channels because people won't divorce themselves from the convenience and "trust" that having a channel open with a big hub provides. If your buddy is connected to the JPMorgan Chase hub and no one else, your only way to pay him in timely fashion is to send through that hub as an intermediary - and good luck convincing him to go halvsies with you on the cost of opening a channel and paying what (by then) will be even more extreme BTC blockchain transaction fees.

Plus, while the cheat-proof nature of the incentive mechanism for cooperation is good in theory, in practice having a transaction fail as a user (and having to wait a thousand blocks, aka ONE WEEK, to be refunded) is going to be an infuriating process. Especially for people with small balances making relatively big purchases - having all your BTC tied up for a week because someone in the middle prematurely broadcast a transaction is a swift kick in the nuts to any hypothetical person who lives paycheck to paycheck and has their money all tied up in the blockchain.

I'm less worried about mining centralization because Proof of Stake consensus mechanisms should solve that, but we'll have to see how ETH's PoS rollout works.

For the longest you had to be an accredited investor to invest in startups.

>For the longest you had to be an accredited investor to invest in startups.

big time... thats just scam to keep me down. assholes.

not an expert, but it depends
my advice is to not daytrade, unless you want to do it near fulltime
Otherwise just buy and hold coins you think are good projects and which could survive an eventual bubble-like crash
Also, do your own research and don't EVER let your emotions control your decisions in crypto. Also, ignore FUD and FOMO

>my advice is to not daytrade, unless you want to do it near fulltime


I would just like to do it a little here and there to get things rolling. I do have the time. I'm a journalist and can move my schedule around.

here is another rare pepe for everyone.

so tell me more user
i'm a newer newbie than you
I've set up a coinbase account & a binance account, should I just dive in with small amounts?

>i'm a newer newbie than you

Probably not. lol I dont know if I would do small amounts. The smaller amount the more you have to make up to cover the fee, which happens on transfer and withdrawal.

bump

>The smaller amount the more you have to make up to cover the fee
so i have to pay a fee to coinbase
what's a minimum amount i should be spending per transaction?