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.
You don't need an internet connection to store coins in cold storage but this happens?
Julian Taylor
Your a fucking idiot. Go trade pogs or some shit then grow up.
Connor Young
fucking kek this meme is such a riot
Jeremiah Jackson
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.
Angel Ramirez
What are you so mad about? That we're trying to help people?
David Miller
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.
Blake Martin
No don't tell them yet please
David Nelson
What other advantages does a ledger offer over paper or laptop cold storage?
Jeremiah Butler
its not time yet
im still accumulating and locking in
Caleb Parker
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
Justin Gomez
>Blockchains can't interact with the outside world and send/receive data How New are you?
Ethan Miller
>t. Locked in at 2k
Christian Fisher
lol. you deserve to lose your money if youve lurked here long enough and still don't know how to price lock.
Leo Reed
>How in the fuck would it even get accurate price data?
the blockchain gets price data from coinmarket cap you fucking newfag
Nolan Cox
I gather that this is the same tier shit as "can't cash out"?
Matthew Adams
>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.
Matthew Gutierrez
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
Jaxson Ramirez
How are your forked bitcoins priced?
Adrian Brown
In
Jonathan Russell
>tfw I set my lock orders to lock my bitcoin in @10k 3 months ago
why even live
Jaxon Watson
Depends on forking rules, generation etc. Hard to say. Most tokens have lock support.
Jason Brooks
Lmao this fud is too good. Keep up the hard work user
Ayden Brown
I literally cannot believe his shit needs explaining.
The absolute state of crypto in 2018. Let me guess, you also don’t use 2FA?
Isaac Ross
Fucking fags scared me for a sec
Levi Wilson
can't cash out is a mindset and a very real thing, this is just a joke
Carson Collins
are you larping or are you actually this retarded
>he doesn't know about auto converts to USD
Hudson Perry
I locked in at 19K. Suck shit poorfags
Matthew Thompson
you did lock in your BTC @19.6k... right user?
Anthony Scott
like any of these highschoolers know what pogs are
Jace Martin
>normies will believe this without question
Adrian Rivera
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
James Butler
Unlock at 12k user, it wont be too bad of a loss
Leo Williams
What's worse than hodling btc? >hodling usdt
Jaxon Jenkins
>The absolute fucking state of Russian FUD on this board
Sebastian Rivera
GO TO BED TRAVIS
Joshua Rivera
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
Nathan Reyes
2FA!?!?! are you crazy.... we use 5FA...
Jackson Hill
>mfw already at my 5th verification can today
Jeremiah Allen
>tfw kept them on Coinbase, which automatically synced the price with each new block hahahaha get rekt