Most of us suggest Coinbase Pro.SoupNazi2001 said:
Newbie here, what is the easiest most secure platform to buy Bitcoin on?
The trouble with quotes on the internet is that you never know if they are genuine. -- Abraham Lincoln.
Crypto-trading thread
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Crypto.com offering 12% APY on USDC staking (or 14% if you sit $40K+)
If I have cash I don't need to touch for awhile, is there any downside to moving it all over there rather than it sitting in savings?
If I have cash I don't need to touch for awhile, is there any downside to moving it all over there rather than it sitting in savings?
Jason lowery, future bitcoin space warlord, gives his take on bitcoin.
What a history working for us govt, advising the president directly, has been an important part if the space force since inception, performing his thesis at MIT on Bitcoin with the premise that bitcoin is Mutually Assured Preservation instead of Mutually Assured Destruction.
How many satoshis is that for each human being alive today? Taking a 7-billion approximation, that comes out to:
What a history working for us govt, advising the president directly, has been an important part if the space force since inception, performing his thesis at MIT on Bitcoin with the premise that bitcoin is Mutually Assured Preservation instead of Mutually Assured Destruction.
How many satoshis is that for each human being alive today? Taking a 7-billion approximation, that comes out to:
So Ravencoin is up 22% today...
I'm a big fan of the Strike app. It's essentially a bank in Kansas City or some such that allows you to direct deposit a portion of your paycheck into that bank. Then, it allows you to pick 0%-100% and they'll automatically buy that much Bitcoin, and let the rest remain in cash for later purchases. Best part is, I haven't seen any transaction fees as a result and the price seems to be accurate, so you're buying real-time.
Someone here recommended it a few months ago, and I've been moving a part of my paycheck into it, then moving the Bitcoin to my Trezor every month. Would recommend.
Someone here recommended it a few months ago, and I've been moving a part of my paycheck into it, then moving the Bitcoin to my Trezor every month. Would recommend.
Follow up question: is there any penalty for putting cash in and pulling it out without buying any Crypto? This sounds like a 'too easy way' to make 12%.AgsMyDude said:
Crypto.com offering 12% APY on USDC staking (or 14% if you sit $40K+)
If I have cash I don't need to touch for awhile, is there any downside to moving it all over there rather than it sitting in savings?
XpressAg09 said:Follow up question: is there any penalty for putting cash in and pulling it out without buying any Crypto? This sounds like a 'too easy way' to make 12%.AgsMyDude said:
Crypto.com offering 12% APY on USDC staking (or 14% if you sit $40K+)
If I have cash I don't need to touch for awhile, is there any downside to moving it all over there rather than it sitting in savings?
As far as I can tell no but I am currently investigating that too. It does seem like too good to be true type of thing.
Here is a walk through
At 7:58 he says you can transfer it back to your bank. Might be worth throwing $1,000 at it for 1 month. Worst case, I just buy Bitcoin with it.
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I think one of the largely under utilized opportunities that we should be discussing is the best tools/methods for accumulating crypto for using fiat. Let's think tank this and come up with some optimized reward churn schemes.
I'll spitball two half-witted examples:
A) Use Crypto.com rewards debit card to purchase Voyager exchange loyalty token
B) Use Blockfi reward card to shop on Lolli.com / StormX, etc. to earn Bitcoin, etc.
I'll spitball two half-witted examples:
A) Use Crypto.com rewards debit card to purchase Voyager exchange loyalty token
B) Use Blockfi reward card to shop on Lolli.com / StormX, etc. to earn Bitcoin, etc.
Thanks & Gig 'Em
Right and there was no mention of penalties or anything.
That's what I'm doing with one. Seems too good to be true. Throw $1000 at it and letting it sit for a few months to see if fees hit incoming or outgoing. So far so good.XpressAg09 said:
At 7:58 he says you can transfer it back to your bank. Might be worth throwing $1,000 at it for 1 month. Worst case, I just buy Bitcoin with it.
I did try USDCoin from Coinbase to BlockFi and that cost about 1% for xfer fees. But that was a crypto xfer, not USD, so that's expected for an on-chain transfer.
My understanding is that you'll still owe cap gains on the 12%, just fyi.
Just my two cents. Some on this thread will accuse me of being draconian and that's ok. We'll see how it plays out.AgsMyDude said:
Crypto.com offering 12% APY on USDC staking (or 14% if you sit $40K+)
If I have cash I don't need to touch for awhile, is there any downside to moving it all over there rather than it sitting in savings?
"Regulation soon" has mostly been FUD regarding defi, stablecoin yield products, etc for the past few years. But I think times are changing quick (here in the US anyway).
Policing of the crypto space is coming soon. It has the attention of congress. Measures were supposed to be included in Build Back Better. While that's now on its death bed, momentum is building for stand-alone crypto legislation.
My girlfriend's sister works for a congressman on the House financial services committee. It has his attention. She said alot of prominent members of the crypto community have been through their office over the past couple weeks. It's in the works.
It sounds like reasonable heads will mostly prevail. There's bitpartisan consensus around some low-hanging fruit legislation, which mostly consists of some cleanups that need to occur before institutions will be comfortable entering the space.
Among those:
-Stablecoins regulated like banks and subject to disclosure of holdings, potentially FDIC membership
-Defi/yield products (like the one mentioned here) must be registered with SEC or they are fraudulent
-Proof of stake token designation as securities (so far, the cases made that they don't pass the Howey test are very very weak)
-IRS application of wash sale rule
-DEXs subject to the same SEC requirements as normal securities exchanges
****
I'm not really interested in arguing/debating any of that. My interest now is figuring out how to properly anticipate what's coming down the chute and the implications.
All the large crypto exchanges are almost certainly selling unregistered securities. They'll be reigned in and subject to more onerous tax compliance/diligence. Taking coins off exchanges to wallets will be met with a long risk disclosure (essentially that by taking coins off exchanges, you are responsible for your own taxes and subject to penalties if your records are not diligent).
Once legislation is passed, the door will be open for incumbents/institutions to start moving in. What we now know as defi/stablecoin yield products will be harnessed by big banks and hedge funds. USDT and USDC will be faced with competition from "JPMCOIN", etc.
****
To answer your question in a TLDR fashion, I'm holding off on investing in what very well could be a fraudulent security. I think the SEC will provide an opportunity for layman investors to get their money out before they start shutting things down (or offer some sort of grace period that allows the fraudulent security to become compliant). Not 100% sure though. I would bake in that risk to your investment decision.
administrative errors said:
Jason lowery, future bitcoin space warlord, gives his take on bitcoin.
What a history working for us govt, advising the president directly, has been an important part if the space force since inception, performing his thesis at MIT on Bitcoin with the premise that bitcoin is Mutually Assured Preservation instead of Mutually Assured Destruction.
How many satoshis is that for each human being alive today? Taking a 7-billion approximation, that comes out to:
Here's the description for those tentative of spending any time... it's one of the few guys in the space that gets it and the militaristic angel is a beautiful analogy.
Bitcoin is Bullet-Proof Property - Jason Lowery
Major in the U.S. Space Force and fellow pleb, Jason Lowry drops by to discuss his views on Bitcoin, government, power projection, and the military. Jason has been studying Bitcoin at M.I.T.. He is developing a thesis on securing property rights with kinetic vs eclectic power projection. I have been studying Jason's thesis and listening to him speak about Bitcoin's ability to transform the way we engage in warfare because it is a topic I find of personal interest. I was very excited to have him on the show. I highly encourage you to take the time to listen to this whole 3-hour episode as there are gems throughout.
We got a chance to cover:
- Power projection
- ESG FUD
- PoW vs PoS
- Fees VS. Taxes
- Bitcoin's Impact on Warefare
- Cyberhornets
- Evolution of War
- & More!
Timestamps:
0:00 - Intro.
3:34 - Gaming today.
11:00 - Jason's background.
17:25 - Why did we need Space force?
22:54 - Getting into Bitcoin.
26:20 - Evolution of war.
37:05 - Explaining "kinetic power projection".
53:14 - Transaction fees and mining.
1:01:20 - Potential threats to miners.
1:13:14 - Cyberhornets.
1:23:34 - ESG FUD.
1:30:34 - P.O.W. vs P.O.S.
1:37:54 - BTC vs ETH.
1:45:34 - Will bitcoin decrease war?
1:57:04 - Power projection advancing tech.
2:08:34 - Pros and Cons to Gov.
2:36:34 - "Bitcoin Guy" for the Pentagon.
2:47:24 - Fan questions!
Projection of kinetic force (violence) is balanced with projection of energy (bitcoin proof of work). We shall see.
Hold onto your satoshis.
I'm thinking on the assumption down the road that we are spending via digital assets and not CCs or cash (ie a long time from now, like our kids kids). For me, I don't necessarily mind Visa having my list of transactions, but I wouldn't want to let my friends and family be able to see that data.
How much information would you like visa to sell?
If yhey noticed a series of transactions denoting a future divorce or adultery of some sort, should they sell it to lawyers or private investigators, for the family unit? [They can predict divorce consistently based on spending behaviors]... or what if they, in order to double the transactions they motivate people on the edge of marriage to jump with some easy divorce signaling purchases.... big data and big finance in bed with big pharma and big advertising sure seems pretty twisted for me. But I think about these things too much.
If yhey noticed a series of transactions denoting a future divorce or adultery of some sort, should they sell it to lawyers or private investigators, for the family unit? [They can predict divorce consistently based on spending behaviors]... or what if they, in order to double the transactions they motivate people on the edge of marriage to jump with some easy divorce signaling purchases.... big data and big finance in bed with big pharma and big advertising sure seems pretty twisted for me. But I think about these things too much.
I mean more of, I don't want my neighbors, friends or family to know how I spend money or send it to who. Even better, I don't want Visa or the gov to know either, but that is the system right now.
I'm all in on Bitcoin (have consolidated just about all my alts into it) but on it's face right now Bitcoin isn't exactly private. I think most people hear Bitcoin and think it's untraceable but it's not and that is kind of the beauty behind it to an extent.
I'm all in on Bitcoin (have consolidated just about all my alts into it) but on it's face right now Bitcoin isn't exactly private. I think most people hear Bitcoin and think it's untraceable but it's not and that is kind of the beauty behind it to an extent.
Kyc free bitcoin is ideal
OPSEC is ideal @odell on Twitter for best practices.
You can be completely transparent and completely opaque depending on your practices.
As we chew on the newest update, taproot, we will see new additional privacy features.
But yes most people don't know anything and the few who say they do don't and people like me say I know less than I thought I knew before.
OPSEC is ideal @odell on Twitter for best practices.
You can be completely transparent and completely opaque depending on your practices.
As we chew on the newest update, taproot, we will see new additional privacy features.
But yes most people don't know anything and the few who say they do don't and people like me say I know less than I thought I knew before.
I know no one can accurately predict the market but I'm curious how many expect the start of the bear market this month versus March or later
Is anyone using IBKR?
Anyone know anything about Saitama coin? They are supposedly opening a defi exchange tomorrow. Price has been increasing this week.
Imo, not this month.
Hey all,
I usually post on stock market thread but wanted to ask a question. Wife's uncle got me to throw some money at crypto this past year. I have put about $10K into LINK.
Is this a worthwhile investment or should I pull it all if I can get back to break even? Currently down about $3-4 LINK.
Everyone on TWTR is bullish on this coin, but after the run to $52 last year, it just kinda fizzled out. Thoughts?
Thanks in advance.
I usually post on stock market thread but wanted to ask a question. Wife's uncle got me to throw some money at crypto this past year. I have put about $10K into LINK.
Is this a worthwhile investment or should I pull it all if I can get back to break even? Currently down about $3-4 LINK.
Everyone on TWTR is bullish on this coin, but after the run to $52 last year, it just kinda fizzled out. Thoughts?
Thanks in advance.
Look at it like a penny stock with some hype and act accordingly.
My recommendation, if you're insistent on playing the alt coin roulette, is pick 3-5 coins(depending on how much you have to play with) and take a basket approach.
My recommendation, if you're insistent on playing the alt coin roulette, is pick 3-5 coins(depending on how much you have to play with) and take a basket approach.
Pretty cool.
There are three pro-#Bitcoin Senate candidates running for the open seat in Ohio. A Progressive, a Democrat, and a Conservative will battle over Bitcoin Single-Issue-Voters. Game theory will be on full display.
— Dennis Porter (@Dennis_Porter_) January 5, 2022
Great to see politicians understand the value of this tech! I am really hopeful for some good crypto legislation this year. The hearing a few weeks ago was definitely encouraging.administrative errors said:
Pretty cool.There are three pro-#Bitcoin Senate candidates running for the open seat in Ohio. A Progressive, a Democrat, and a Conservative will battle over Bitcoin Single-Issue-Voters. Game theory will be on full display.
— Dennis Porter (@Dennis_Porter_) January 5, 2022
And Jason lowery
#Bitcoin is the digital surrogate to warfare as a mechanism to establish permissionless control over monetizable property via power projection.
— Jason Lowery (@JasonPLowery) January 4, 2022
Humans have discovered their antlers: a non-lethal way to project power to settle property disputes.
i wouldn't just do one crypto. But it I was picking one, I would just get ETH. I have small amount of BTC, mostly ETH, with a few other smaller coins.BaylorSpineGuy said:
Hey all,
I usually post on stock market thread but wanted to ask a question. Wife's uncle got me to throw some money at crypto this past year. I have put about $10K into LINK.
Is this a worthwhile investment or should I pull it all if I can get back to break even? Currently down about $3-4 LINK.
Everyone on TWTR is bullish on this coin, but after the run to $52 last year, it just kinda fizzled out. Thoughts?
Thanks in advance.
I listened to about the first 30 mins of the YouTube but couldn't get through 3 hours. Can you summarize what/how the tie in to warfare and the relationship between kinetic to electrical as it pertains to disputes?
Someone made a substack with the breakdown. Lemme link it hold on.
Here it is:
https://bitpublica.substack.com/p/bitcoin-is-bullet-proof-property
Quote:
Summary of 3 hour SmartPeople**** episode:
BitPublica
Jan 3
1
U.S. Space Force Major and long time Bitcoiner, Jason Lowry1 is interviewed by Dennis Porter2 to discuss his views on Bitcoin, government, power projection, and the military. Jason has been studying Bitcoin at M.I.T.. He is developing a thesis on securing property rights with kinetic vs eclectic power projection.
Jason was chosen by the US Space Force to study Bitcoin at MIT as part of his career training. He believes it is a revolutionary defense technology that will change the landscape of warfare and wants to help the US understand it before adversaries do.
Evolutionary pressures drive warfare, and consequently forces everybody to invest in defense. If a community does not invest in defense, it entices enemies to simply take undefended resources. Property is only property in so far it can be defended as property.
Using first principles, Jason defines power as joules per second (energy transferred per unit time). Nature employs various power projection strategies such as photosynthesis and colonization in the case of plants, or consumption and metabolism in the case of animals. Humans have evolved to use power projection in the form of technology, primarily in the form of kinetic energy.
Humans have two options to protect property; subscribe to somebody else to project power to protect it, or project sufficient power themselves such that no third party is required. Not requiring any third party for property protection is permissionless power projection. Due to how nature operates, there is no option to opt out of either having somebody employing force to protect your property, you employing force to protect your property, or somebody taking your property by force. If we employ somebody else to protect our property rights, we will need to pay a fee to the third party, typically in the form of taxes.
With the advent of nuclear warfare, any form of kinetic power projection would eventually end up with a nuclear stalemate or mutually self assured destruction. Bitcoin gives humanity the option of moving from kinetic power projection to protect property rights to electric power projection to protect property rights. Bitcoin is literally bullet proof in that it cannot be shot, bombed, or nuked in an attempt to stop it, unlike current forms of kinetic power (soldiers, planes, tanks, drones, etc). As with kinetic power, the more energy (joules/second or Watts) that is used in the Bitcoin network, the greater the power projection and stronger the defense of property rights.
In Bitcoin's proof of work3 system, any control authority can be countervailed by setting up one's own mining operation. In a proof of stake4 system like Ethereum, there is no option to countervail the control authority because the top stakers will always receive the most rewards, thereby cementing their position as the control authority.
The most valuable property of money is unit of account (which requires the underlying properties of store of value and medium of exchange), and if any alt coin is measuring their value in BTC, then they are tacitly implying that BTC is the most valuable money. Although the USD is currently the defacto unit of account, it is not optimal because the measuring stick is constantly moving due to fluctuating money supply.
If value is held in Bitcoin, which is resistant to kinetic force, then it would disincentivize kinetic war, thereby saving lives and physical destruction. Although other proof of work cryptocurrencies are also resistant to kinetic force, they have a small fraction of the energy protecting it compared to Bitcoin. The Schelling Point5 for digital property protection would thus converge on Bitcoin, which has the most energy defending the network.
It is inefficient to have a standing military, however an unengaged standing military is proof that it works. Similarly, if a country were to attack the Bitcoin network, it would be valuable and important to have the US protect the Bitcoin network with excess "war time" hash power in order to protect sovereign wealth, especially if Bitcoin were to replace the treasury bond.
Major Lowry predicts the US Government will get involved in Bitcoin within 4 years and looks to actively help politicians understand it. It is important for Bitcoiners to support Major Jason Lowry and his efforts to get the US Government educated and involved if we want to see Bitcoin and the US succeed on a global scale.
1
https://twitter.com/JasonPLowery
2
https://twitter.com/Dennis_Porter_
3
A proof of work system rewards users that invest computational power, which requires energy and and ASICs (application specific integrated circuits), in the case of Bitcoin.
4
Proof of stake rewards users that stake their crypto as collateral with more crypto.
5
In game theory, a focal point (or Schelling point) is a solution that people tend to choose by default in the absence of communication
https://bitpublica.substack.com/p/bitcoin-is-bullet-proof-property
Thank you!
Great article
After reading that summary, it is my opinion Lowery is really stretching it here. Similar to proof theorems in geometry or college football wins by association. Not saying there isn't a tie, but a more important thing to control is energy and power such as oil and gas. If you control the power by any kinetic means necessary, they better off you'll be.
This assumes all actors buy into BTC as a store of value. If not, then a third party that used an alternative store of value could still cause economic chaos by obtaining hash rate necessary to 51% attack the network, and leave their own store of value untouched. Availability of new block creation to any miner (theoretically) comes with a lot of positives, but it also has tradeoffs.administrative errors said:
Here it is:Quote:
Summary of 3 hour SmartPeople**** episode:
BitPublica
Jan 3
1
U.S. Space Force Major and long time Bitcoiner, Jason Lowry1 is interviewed by Dennis Porter2 to discuss his views on Bitcoin, government, power projection, and the military. Jason has been studying Bitcoin at M.I.T.. He is developing a thesis on securing property rights with kinetic vs eclectic power projection.
Jason was chosen by the US Space Force to study Bitcoin at MIT as part of his career training. He believes it is a revolutionary defense technology that will change the landscape of warfare and wants to help the US understand it before adversaries do.
Evolutionary pressures drive warfare, and consequently forces everybody to invest in defense. If a community does not invest in defense, it entices enemies to simply take undefended resources. Property is only property in so far it can be defended as property.
Using first principles, Jason defines power as joules per second (energy transferred per unit time). Nature employs various power projection strategies such as photosynthesis and colonization in the case of plants, or consumption and metabolism in the case of animals. Humans have evolved to use power projection in the form of technology, primarily in the form of kinetic energy.
Humans have two options to protect property; subscribe to somebody else to project power to protect it, or project sufficient power themselves such that no third party is required. Not requiring any third party for property protection is permissionless power projection. Due to how nature operates, there is no option to opt out of either having somebody employing force to protect your property, you employing force to protect your property, or somebody taking your property by force. If we employ somebody else to protect our property rights, we will need to pay a fee to the third party, typically in the form of taxes.
With the advent of nuclear warfare, any form of kinetic power projection would eventually end up with a nuclear stalemate or mutually self assured destruction. Bitcoin gives humanity the option of moving from kinetic power projection to protect property rights to electric power projection to protect property rights. Bitcoin is literally bullet proof in that it cannot be shot, bombed, or nuked in an attempt to stop it, unlike current forms of kinetic power (soldiers, planes, tanks, drones, etc). As with kinetic power, the more energy (joules/second or Watts) that is used in the Bitcoin network, the greater the power projection and stronger the defense of property rights.
In Bitcoin's proof of work3 system, any control authority can be countervailed by setting up one's own mining operation. In a proof of stake4 system like Ethereum, there is no option to countervail the control authority because the top stakers will always receive the most rewards, thereby cementing their position as the control authority.
The most valuable property of money is unit of account (which requires the underlying properties of store of value and medium of exchange), and if any alt coin is measuring their value in BTC, then they are tacitly implying that BTC is the most valuable money. Although the USD is currently the defacto unit of account, it is not optimal because the measuring stick is constantly moving due to fluctuating money supply.
If value is held in Bitcoin, which is resistant to kinetic force, then it would disincentivize kinetic war, thereby saving lives and physical destruction. Although other proof of work cryptocurrencies are also resistant to kinetic force, they have a small fraction of the energy protecting it compared to Bitcoin. The Schelling Point5 for digital property protection would thus converge on Bitcoin, which has the most energy defending the network.
It is inefficient to have a standing military, however an unengaged standing military is proof that it works. Similarly, if a country were to attack the Bitcoin network, it would be valuable and important to have the US protect the Bitcoin network with excess "war time" hash power in order to protect sovereign wealth, especially if Bitcoin were to replace the treasury bond.
Major Lowry predicts the US Government will get involved in Bitcoin within 4 years and looks to actively help politicians understand it. It is important for Bitcoiners to support Major Jason Lowry and his efforts to get the US Government educated and involved if we want to see Bitcoin and the US succeed on a global scale.
1
https://twitter.com/JasonPLowery
2
https://twitter.com/Dennis_Porter_
3
A proof of work system rewards users that invest computational power, which requires energy and and ASICs (application specific integrated circuits), in the case of Bitcoin.
4
Proof of stake rewards users that stake their crypto as collateral with more crypto.
5
In game theory, a focal point (or Schelling point) is a solution that people tend to choose by default in the absence of communication
https://bitpublica.substack.com/p/bitcoin-is-bullet-proof-property
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