Seriously guys don't fall for the "it's just a meme" bullshitters on here...

Seriously guys don't fall for the "it's just a meme" bullshitters on here. I had 55 Bitcoin locked up in cold storage back from 2010 when they were worth less than ten cents and I moved them out back when Bitcoin hit 10k and only made like 5 dollars upon selling them.

It's not a meme, what happens is that these were what are called (unbeknownst to me) "zeroth generation bitcoin". To make a long story short, it has to do with the mining process that was involved with mining them back them and how they're mined now, the blocks that these coins exist on in the blockchain actually were actually stamped with the USD price on them at the time and when you store them away that locks the price in. It was a technical bug because that price was supposed to change with time but for Zeroth Generation Blocks if you stored them away the price got locked in because the blocks could no longer interact with the blockchain and update the price. Needless to say I wasn't too happy about this, but what could I do?

I don't want to scare anyone but I think that this might just be a design feature for a lot of new tokens, some of the Zeroth Generation ERC20 tokens also have this feature where the price gets locked, so be careful.

Other urls found in this thread:

google.com/search?q=Zeroth Generation Blocks&ie=utf-8&oe=utf-8&client=firefox-b-1
twitter.com/NSFWRedditVideo

You don't need an internet connection to store coins in cold storage but this happens?

Your a fucking idiot. Go trade pogs or some shit then grow up.

fucking kek this meme is such a riot

lol. You deserve to lose your money if you've lurked here long enough and still don't know how to price lock. Its a worthy and useful meme.

What are you so mad about? That we're trying to help people?

I know we like to meme but I think it's time we let people know that they can lock in prices with their ledgers.

No don't tell them yet please

What other advantages does a ledger offer over paper or laptop cold storage?

its not time yet

im still accumulating and locking in

Ok memes are fun and all, but who the fuck would believe a BTC blockchain would store dollar values of trades.
How in the fuck would it even get accurate price data? This is just beyond stupid.
If this is an accurate representation of how well normies understand this tech, we are a long way from mass adoption

>Blockchains can't interact with the outside world and send/receive data
How New are you?

>t. Locked in at 2k

lol. you deserve to lose your money if youve lurked here long enough and still don't know how to price lock.

>How in the fuck would it even get accurate price data?

the blockchain gets price data from coinmarket cap you fucking newfag

I gather that this is the same tier shit as "can't cash out"?

>Buy Bitcoin at 20k
>It crashes to 1 cent
>Lol its still worth 20k per token because I locked it in BAYBEEEEEE
Explain how this makes any sense.

the ledger automatically converts your BTC to USDT when it locks in the price. if you thought about this for even 2 seconds you would realize how easy it is to do

How are your forked bitcoins priced?

In

>tfw I set my lock orders to lock my bitcoin in @10k 3 months ago

why even live

Depends on forking rules, generation etc. Hard to say. Most tokens have lock support.

Lmao this fud is too good. Keep up the hard work user

I literally cannot believe his shit needs explaining.

The absolute state of crypto in 2018. Let me guess, you also don’t use 2FA?

Fucking fags scared me for a sec

can't cash out is a mindset and a very real thing, this is just a joke

are you larping or are you actually this retarded

>he doesn't know about auto converts to USD

I locked in at 19K.
Suck shit poorfags

you did lock in your BTC @19.6k... right user?

like any of these highschoolers know what pogs are

>normies will believe this without question

I locked my bitcoin back at 19k US. Just wish I could of locked in more, only had 83 at the time. Better than nothing though. Gonna cash out when this shit tanks

Unlock at 12k user, it wont be too bad of a loss

What's worse than hodling btc?
>hodling usdt

>The absolute fucking state of Russian FUD on this board

GO TO BED TRAVIS

All these fucking trolls holy shit, so many people are going to lose so much money because they didn't realize they locked their coins... On the other hand, a bunch of idiots didn't lock their coins at the ATH. lol oh well

2FA!?!?! are you crazy.... we use 5FA...

>mfw already at my 5th verification can today

>tfw kept them on Coinbase, which automatically synced the price with each new block
hahahaha get rekt

google.com/search?q=Zeroth Generation Blocks&ie=utf-8&oe=utf-8&client=firefox-b-1
>literally LARPing FUD may may

thanks just locked 100k

>locked xrp at $3

>"it's just a meme" is a meme