Not something new, but something better? If BTC is tech, do we not think there will be better tech eventually?
OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
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But one of the argument's for BTC is "unlike gold silver platinum, there is only x amount". Though I guess the same is true with those precious metals, but there does seem to be plentiful supply yet to be found.
Better tech to accomplish the same objective? No idea. But once again, many, many, many have already tried and failed. Also, specific blockchains can be improved directly or indirectly. Think about Stacks/STX. This is a new L2 for BTC that brings better smart contract functionality to the network. Huge improvement.
Is that what Doge was trying to be?
I'm busting chops here, but seems most crypto has some sort of use case. Not that anyone actually uses them, but they supposedly do stuff.
Use cases are coming. Here’s two good previews in one tweet:
1. USDC for payments rather than credit cards. The savings are there, whether or not it catches on is another story.
2. A cellphone running on a crypto network. Very early here but it’s picking up. I think they’re up to 100k pre-orders on the second version and the service area just expanded to Mexico. Their goal is to attract app developers who don’t want to pay the 30% ransom to Apple. Giant hill to climb there obviously.
You're referring to Solana"s cellphone. You could also include Helium's (HNT) decentralized 5G network hotspots.
Correct, it’s running on helium’s network. I have a first version. Not ready to ditch my other phone just yet but I’m getting there.
The big difference.....how many people believe in the BTC use case vs. Doge or the countless other copycats? Support is the difference (same dynamic as gold vs all the other metals and elements in the world).
I sold it a few weeks ago because I’m simplifying things. It’s another of those depin coins I was talking about. Those 100k phones will all be running on Helium so I’d imagine that’s a good thing. Bob had been mining Helium for a while, he’d know better than me.
I heard lightning was coming for credit cards, but that's now seemingly out the window.
cellphone's? Seems like more of a blockchain thing then a crypto thing?
Quite a bit of overlap with crypto/blockchain. The phone is running on Solana/Helium. Cant unmarry the two there
First mover advantage! Look at any of the big companies over the last 50 years and most of them either pioneered an industry or were one of the early entrants. They call other coins other than bitcoin, shit coins for a reason.
Not sure how the comparison to big companies works given those companies all adapted along the way, creating new products and offering new services.
BTC is just BTC, doesn't really do anything.
If anything, I think this comparison opens the door to new, better tech coming in. Crypto that actually does something.
Thousands have already tried and they have all failed to replace BTC. Crypto that does something is called Ethereum. Amazing tech that is constantly improving, but apples and oranges to BTC.
You’re wasting your breath. It’s all a get rich quick scheme to the guys here if they were being honest about it, and a piggy bank for the guys who own most of it. Bitcoin was supposed to be an FU to the banks, now its advocates have whored themselves out to the banks. It went from currency, to store of value, to an ETF, soon it will be something else.
Meanwhile The mini Warren Buffets here command just 3.47% of the Bitcoin. A couple of people could turn off the lights on this thing whenever they feel like it.
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Ignore the poster angry at missing out. Any thoughts on SUI? Sounds like great L1 project with a bunch of experienced former META engineers. Still cheap at $2B market cap. Plenty of funding and support.
A lot of $sol people are positive about it thinking it coups be a big winner this cycle. I don’t know much about it
Agreed. Seems to have a lot of momentum and tons of adoption. Long way to go with a lot of coins still to unlock, but this is what getting in early is about, right? LOL. I did sprinkle some funds into it.
I've been deep-diving on the various L1 projects and SUI looks to be the best bet of the newer ones.
2022 may have been the most important year for crypto since so many crooked MF'ers were caught or went bankrupt.
So here’s why digital anything is a problem especially with no oversight. My teenage son was buying/selling some digital card or NFT Bs. No f’in clue exactly how it worked but I loved it because he made about $350 in 2 weeks for basically doing nothing and was learning in the process. And of course I told him to cash out last week LOL. This morning he tells me that some a-hole found a way to digitally alter the cards so some of the cards my son bought were worthless - lost about $200 of his profits. When I asked him what he was going to do he said “nothing” because other than reporting the fraudster through the bot and getting the scammer banned, the money is gone. Who knows how much the scammer made off kids but you can’t go to the police…what are people gonna do when the digital currency/world revolution takes hold?
Wouldn’t be an issue if he downloaded the layer 69 smart contract update on the golden retriever blockchain that any novice who spends 80 hours a week researching this stuff can do with a 80% success rate. Tell your son to stop being a newb or have fun staying poor.
Yeah exactly. And that’s why I laugh when people bitch about credit card transaction fees. Those fees cover fraud prevention, AML compliance, etc. - and, at least with AMEX, will basically make you whole in the event of fraud.
Apples and oranges. The credit card discussion results in instant settlement as we’ve discussed, same as paying cash.
Don’t want to beat a dead horse otherwise. Do you know what cards he’s buying on what chain? From what platform? I’d be happy to look into it to see if I could give him any suggestions or see if there’s a way to fix it.
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Just wondering. Are you still adding to SOL? I bought in at $95 and plan to buy more if it dips lower.
Just holding at this point. I’ve heard that there is a lot of FTX selling going on OTC right now at $96, thus the dump on the market to buy back lower.
Got it, thanks! I'm good with my ETH position, always adding to BTC, but my focus is building up SOL and my other Coinbase holdings.
Been reading positive things about NEAR. Not just the network, but also regarding tokenomics since almost max supply is already public. On my watchlist.
Someone from India called me today trying to fix my cable box and upgrade the firmware. I was behind the wheel so opted to f with him. Kept him on the phone for 20 mins. walked through the 9 tv's I have in my home. "reset them all" and I was amazed at how much faster they were operating and how I got more channels. He wanted me to pay for this service he performed. Another caller the other day wanted to sell me more medicare benefits. Another caller wanted to pay a small amount to have solar installed on my home. Another caller wanted me to donate to some made up cause. I could go on. Does this mean that every phonecall is bullshit and a scam? No..
If I went to Walgreens and bought $500 worth of giftcards and sent to India, Id be F'd. No oversight board could help. Just SOL. Just like thousands of people each day.
Just like not every crypto trnsaction is a scam or a problem. **** around and shit chains and bad things very well can happen. Make a poor decision, like many do on the phone or ont he computer and bad things can happen. Theres oversight over the phone. Yet somehow India calls me. There's oversight over the internet. Yet somehow malware will embed into JS and want me to "call Microsoft" to fix the errors on my computer.
Your son learned two very good lessons. Know when to pull profit and know not to invest in potentially fraudulent or susceptible digital assets.
To answer you last question, people need ot be more diligent, just like when answering the phone or clicking on websites. It's no different
Zach is one of my favorite follows on Twitter. I think as things progress you’ll see more of this- both from private services and law enforcement. He’s already helped with several high profile arrests. He can track down almost anything on chain.
I follow him as well. He does a nice job, as does coffeezilla, Liron Shapira
Looks like a digital anime trading card of some sort. It’s not an nft and not any chain, just traded on discord it seems. Sorry, doubt there’s any recourse unfortunately.
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