With some time in the community, you can be certain that the people around here will keep buying. With some technical practice, you can be certain that the supply is limited.
The more you learn about Bitcoin the more certain you will be that you should be plowing all of your life savings into Bitcoin. I don't know anyone who has studied Bitcoin for over 100 hours that hasn't invested at least most of their savings into bitcoin. I bet 90% of stacker news users have done so too by now
What specific piece of evidence or real-world experience would make you go from ‘Bitcoin is probably a fantasy’ to ‘I was wrong’. And how close do you think you are to that happening?
From what you know and see in your personal life, what you hear around you... what does he (probably...) look like, what's his demeanor? What are his morals and values and beliefs?
Welcome. Great starting point in your learning journey is mentally separating Bitcoin and crypto.
I would focus on learning about Bitcoin and not really bothering with the rest of crypto.
There are many great resources out there to learn about Bitcoin. @NEEDcreations has built (is building) a really great app to help people learn about Bitcoin.
Personally, I think Bitcoin is the only one that has actually solved a problem. Fixed supply, digital money that doesn’t require a trusted third party.
All other cryptocurrencies are more akin to startup tech companies that are trying to find product market fit for what they believe is some sort of innovation. There is nothing wrong with innovation but unfortunately in crypto the incentives are misaligned. It’s easier to issue tokens and sell them than it is to create a useful technology that people want to use. So you get a lot of tokens issued with big promises and marketing hype but not a lot of actual useful technology that people want to use.
What's been the main barrier to your learning more about Bitcoin? Too much jargon, lack of simplicity
What pre conceptions do you come into it with? That it's still just a fantasy currency with no actual value.
What are your first impressions of so called 'bitcoiners'? Let's hope they know what they're doing because they could hold the future of the world in their hands.
How often does Bitcoin show up in your life? Do you hear about it very often? Is it mostly via news stories or are there other channels on which it shows up?
If you had to guess, what do you think you could buy with bitcoin today? (eg. could you buy a coffee? or is it just something for trading like stocks?)
What’s the one thing that has kept you from trying it until now? Is it the fake money aspect, the complexity of wallets, or just the reputation of the community?
Seriously though, start small, only invest what you’re okay with losing, and don't feel like you have to understand Real-World Asset Tokenization or On-chain Governance on day one.
Thanks for all the info and thoughts. Popping off now!
What’s the most important function of money for you?
Food on the table, roof over my head, living a comfortable life.
Those are not functions of money, proper. What you referred to in your answer is real income/wealth.
#780358
(Put differently, a society doesn't require the technology of money to achieve those things)
If you like video content, check out my new mini-app (a piece of my broader Bitcoin Education app) at https://timechaintv.com
21 channels of organized Bitcoin content for your viewing pleasure!
Thanks for sharing!
What’s the biggest reason you won’t or would never plow all of your life savings into bitcoin?
Uncertainty.
With some time in the community, you can be certain that the people around here will keep buying. With some technical practice, you can be certain that the supply is limited.
The more you learn about Bitcoin the more certain you will be that you should be plowing all of your life savings into Bitcoin. I don't know anyone who has studied Bitcoin for over 100 hours that hasn't invested at least most of their savings into bitcoin. I bet 90% of stacker news users have done so too by now
thats only natural and fair.
only you know your financial situation.
only you know the right amount of bitcoin.
only wrong amount of bitcoin is 0
how did you end up here? this is pretty niche
I asked a normie friend of mine to do an AMA because I figured bitcoiners would be interested to talk to them.
They are somebody I know from other parts of my life and we never talk Bitcoin.
what / how did you find stacker.news?
I asked a normie friend of mine to do an AMA because I figured bitcoiners would be interested to talk to them.
They are somebody I know from other parts of my life and we never talk Bitcoin.
What specific piece of evidence or real-world experience would make you go from ‘Bitcoin is probably a fantasy’ to ‘I was wrong’. And how close do you think you are to that happening?
I want you to describe a "Bitcoiner" to me.
From what you know and see in your personal life, what you hear around you... what does he (probably...) look like, what's his demeanor? What are his morals and values and beliefs?
What’s your take on this meme?
banksters have shorter dicks :)
and no balls
Isn't clear.
Choose the word that describes the meme best.
hint: the money in the bank isn't yours
Welcome. Great starting point in your learning journey is mentally separating Bitcoin and crypto.
I would focus on learning about Bitcoin and not really bothering with the rest of crypto.
There are many great resources out there to learn about Bitcoin. @NEEDcreations has built (is building) a really great app to help people learn about Bitcoin.
https://bitcoineducation.quest
Thanks for the recommendations. Why is bitcoin the only one worth learning about?
Personally, I think Bitcoin is the only one that has actually solved a problem. Fixed supply, digital money that doesn’t require a trusted third party.
All other cryptocurrencies are more akin to startup tech companies that are trying to find product market fit for what they believe is some sort of innovation. There is nothing wrong with innovation but unfortunately in crypto the incentives are misaligned. It’s easier to issue tokens and sell them than it is to create a useful technology that people want to use. So you get a lot of tokens issued with big promises and marketing hype but not a lot of actual useful technology that people want to use.
Interesting! Thanks for explaining.
Thanks for sharing my app! @Gizmo if you have any specific questions about my app or about Bitcoin in general, let me know!
Who introduced you to this site?
I conned this normie into hanging out with us maniacs for a little while. it's a rare opportunity.
big if true
Very sneaky
My friend.
Whats been the main barrier to your learning more about Bitcoin?
What pre conceptions do you come into it with?
What are your first impressions of so called 'bitcoiners'?
What's been the main barrier to your learning more about Bitcoin? Too much jargon, lack of simplicity
What pre conceptions do you come into it with? That it's still just a fantasy currency with no actual value.
What are your first impressions of so called 'bitcoiners'? Let's hope they know what they're doing because they could hold the future of the world in their hands.
Interesting juxtaposition with the last two. Reminds me of this article Allen Farrington wrote: Wittgenstein's Money
What currency has actual value, would you say? What does it mean for a currency to have that?
The complexity is certainly an issue.
Do you actually believe the last point, or are you being facetious?
Thanks for stopping by! Does the word “normie” have either a positive or negative charge to you? Just curious
Never thought about it. It's neutral to me.
nice
How often does Bitcoin show up in your life? Do you hear about it very often? Is it mostly via news stories or are there other channels on which it shows up?
Rarely. Mostly in the news and I have some friends that dabble in it.
The US National Debt increased by $2 trillion in the last year. There hasn't been a balanced budget since Clinton. Do you find this worrisome?
Yes, but how real is it all anyways.
Exactly! let's say it's not real.
What are the implications of that for paying taxes.
Also for bonds. Banks carry reserves that are usually made up of Treasury bonds...which are made up.
Who benefits from a system like this?
How do you save your money over long periods of time? Do you consider inflation when making these choices?
Yes, I save over long periods but agnostic as to whether that's the best approach. And yes.
What’s the best fintech/banking experience you’ve ever had?
What's fintech? Banking: probably Chase.
What is your reaction to this statement:
"Social media is better when everyone has to pay to post."
If it eliminates social media then great!
ah: you suspect that it will eliminate social media if people must pay to post?
No but I hope it does!
The best way to start is by ignoring the price charts for a second and looking at the tech
What's your go-to for learning about the tech?
I'm partial to these:
https://bitcoin.rocks
https://bitcoiner.guide/resources/ (not the paid service, just the free guides)
https://21lessons.com/
not a single mention of my guides... shame on you!
https://darth-coin.github.io, where I linked even more resources https://darth-coin.github.io/resources-en.html
I do wish I had mentioned them. My youngest son was having a bit of a problem while I was posting that comment, so I was distracted.
Thanks for the recommendations!
I started with the Mastering Bitcoin: Unlocking Digital Cryptocurrencies by Andreas Antonopoulos
Have you ever been tempted to buy bitcoin? What's the closest you've gotten to doing so?
Yes. Trying to figure out what platform to use.
Which did you consider at the time?
A lot of hardcore bitcoiners might be upset at me for this, but I generally just recommend Coinbase for beginners.
Coinbase, binance, etoro, crypto.com
All total garbage. Stay far away from all of those.
Start reading here:
Coinbase seemed like the easiest to use.
If you had to guess, what do you think you could buy with bitcoin today? (eg. could you buy a coffee? or is it just something for trading like stocks?)
I just bought a house and the inspector said I could pay in bitcoin so probably a hand full of things.
Woah! Sounds like a cool inspector!
Have you ever read:
#1197737?
What is the difference between Bitcoin and crypto?
Does this look familiar?
Have you read 'The Bitcoin Standard'?
I haven't. Is it a good place to start?
Yes.
https://ia601407.us.archive.org/10/items/the-bitcoin-standard-the-decentralized-alternative-to-central-banking_202205/The%20Bitcoin%20Standard%20The%20Decentralized%20Alternative%20to%20Central%20Banking%20.pdf
Thanks for the recommendation!
There's nothing to "know" about crypto.
That's the first lesson
Explain
Some other comments pointed you in the right direction there. Bitcoin is a thing worth investigating and understanding; "crypto" isnt
What did you think of the corona lockdowns?
Some were needed, some weren't.
What’s the one thing that has kept you from trying it until now? Is it the fake money aspect, the complexity of wallets, or just the reputation of the community?
Complexity, reputation of the community, volatility.
SN is a Bitcoin forum, how did you get here? 🤔
How did you get here?
Why do you think money should be separated from the state?
Never share your seed phrase (your master password) with anyone, ever!
Makes sense. What's a common mistake/scam that newbies fall for when it comes to sharing their seed phrases or linking wallets?
Imposters of "customer support" who insist that you need to share your seed phrase with them.
Even if you were talking to a real customer support staffer, you still shouldn't trust them with your money.
Seriously though, start small, only invest what you’re okay with losing, and don't feel like you have to understand Real-World Asset Tokenization or On-chain Governance on day one.
Happy learning!
Money serves 3 main functions:
MoE, SoV, UoA.
What is money? And what is value? According to you.
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