Seems like interest in this thread is directly proportionate to the rate of raise/fall of the worth. Nobody really cares about the coins or the blockchain itself.
They admitted in the post they should have had a hardware wallet to make things safer. This is equivalent of someone having their identity stolen and someone draining their credit card and bank accounts and saying the bank and credit card company is at fault.
But you have fraud protection and FDIC insurance with banks and credit card companies, and keeping everything on a hardware wallet destroys utility.
This is a nice little microcosm of how you understand so much about the infrastructure of crypto and understand so fucking little about everything else surrounding it.
The first part is why crypto aligns closer to gambling than a long-term investment strategy. Don't invest or gamble what you can't afford to lose. I don't know what you mean about a hardware wallet destroying utility. I've used a hardware wallet and talked about how everyone should be using one for about two years now with no issues. You're really angry. Someone got phished. It sucks they lost their money but they clicked a scam link just like you could by opening up an email in your junk folder. This happens all the time outside of crypto.
The blockchain is secure. Someone clicking a link and entering their security phrase or password on a fake website is not secure. That's my slant.
Utility is just being able to use it quickly and easily, mainly to buy goods and services. If the only way my crypto is completely secure is if it’s on a hardware wallet, then the ability to use it quickly and easily to buy goods and services is gone. What am I going to do? Whip out my Ledger and laptop at Publix and manually approve the transaction?
My ledger wallet requires me to make one additional step to approve a transaction. It's like 2FA. I can still do the same thing you're implying, just with one additional step. I don't need my laptop. The ledger easily fits in your pocket. I don't use crypto to buy goods and services so I don't have the need to carry my ledger on me, but it can be done and it's one additional step. Totally worth it to save yourself from creating a thread on Reddit wondering why you lost $88k.
There have been people on here that have purchased crypto or NFTs in order to buy a physical item. Someone else even made a cute attempt and got frustrated. Actually, I lied again in my post above and have done that. Lol so interesting....
To be serious for a moment, there are a few startups / projects working on the issue. Most would agree the UX around seed phrases and hardware wallets is not yet suitable for mass commercial adoption.
I also don’t think crypto will ever be used as a currency for grocery transactions, more like financial infrastructure
Lol no they are saying the blockchain isn't secure. And lol the blockchain is known for processing payments faster and cheaper than almost every current system in place. In fact, the hold-up with you not being able to spend your crypto to buy some shoes was your bank. Whammy already resolved this. The current UX and the ability for people to spoof web2 links to get you to sign illegitimate transactions or enter your security phrase is what "sucks" A bit of common sense and user education resolves this. Or when better UX/technology is released (poster I @'ed about already covered that too) Next.
Penguin is there any part of crypto that worries you? Because you seem so bought in, that if you were family I’d be really worried.
To people well-versed in crypto, the blockchain is very secure. It's as secure (or maybe even more secure) than traditional banking right now. However, it's so hard to be diligent and vigilant that so few people are able to enjoy that security. And for a system that relies on mass adoption to be successful, that's why it will never be successful.
Yes. And that’s why I posted this thread and mentioned the accompanying replies to it. It’s an excellent example of this obvious point. Unless you’re a crypto cave troll putting in 1000 hrs of your own research.
No, it wasn't my bank. You're telling lies, again. My bank would have let me by $30k or whatever I had in my checking account at the time but all of the wallets like Coinbase and Metmask capped usage at like $1k for 72 hours or some shit. My bank wasn't the issue. The issue was I'd have needed to buy the ETH 3 days prior to the auction to be able to participate. This is the argument I was referring to. You can spin it any way you want but utility sucks right now and it's even worse if you have to keep everything in cold storage.
I think the current state of the market and the security issues being discussed here are a concern. What I'm not concerned about is the lack of understanding of the different use cases of the blockchain or getting all invested in some conspiracy YT video. I've only invested maybe $10k into ETH/NFTs and have been playing with house money. My current career is building products on the blockchain and have some pretty reputable clients across the payment processing and eCommerce space. Not sure what my family needs to be worried about.
MetaMask does not cap or care about how you acquire crypto. Coinbase held your crypto/ETH until your FIAT/ACH payment cleared. 100% a fact. Have a great day.
Glad you haven’t gone full on YOLO with your money. It just seems like every single criticism that gets brought in here(this isn’t me saying that they’re all valid), is water off a ducks back to you. I don’t recall you very often at all, possibly ever, agreeing or acknowledging the issues around the space. You just condescendingly/hostilely respond.
100% a lie. The below shows this. Metamask capped me at $2500. You know this and STILL lie. So no, it was not my bank. Stop telling lies. That's a recurring theme for you.
I don't disagree with the last statement. A lot of that stems from other threads and the same people coming here just to bitch/troll. I don't think me coming here embedding tweets daily or writing a thesis statement to correct incorrect viewpoints is really going to change things on this particular website with the same group of people.
Well, you did ask a question and I did give you a serious response about how I felt about the space. So for starters, asking better questions will maybe will get a better response from me (srs) But Twitter and Google, or if you're really being serious Discord, are great places to start.
Sure, but knowing you are professionally involved in the space, you seem like a better avenue for folks on this board to get info from in a space others don’t know much on. Especially when you can Google/Twitter search and get just as much false info on the space as you can educational, due to the negative PR around it. I know not everyone enters this thread to have a honest discussion, but that also doesn’t mean you need to always respond being an asshole
Yea I tried to onboard some of you last year. Something unintentional happened and I decided I was not going to be that guy on here. Some of you, like me, learned the hard way. I do preach about hardware wallets and security all the time, but just like the internet 99% of what I post is nonsense. So just gotta filter through it, I guess?
And it’s important to know THIS WOULD BE A GOOD THING. This isn’t directly pointed at you, but bitcoin specifically would be another really shitty thing in a long line of shitty things we do to the environment. I’m sorry penguin, et al crypto bros but we very much need to not be installing any more fucked up industries that trash out planet.
Being candid, when I was big in TopShot and learning about NFT’s, you were one of the most knowing/helpful posters in that thread. Now you’re just an arrogant asshole 98%, and feeding into the whole negative view of the “cryptobro”
Noted and don't disagree. I'd be willing to argue 98% of the conversations directed towards me since I shitposted and tagged the two in the NFT thread have been a little extreme and directed towards me in a way that made it easy to seem like an arrogant asshole. I haven't called anyone a nazi or racist, tagged the suicide hotline multiple times, or played the whole mental health thing. A lot of those people have been blocked though so maybe my shitposting will simmer.
To be fair to Penguin: while 2 years ago or however long it’s been, yes I did come in here to honestly learn about the space, but since that time I’ve grown to very much dislike this new industry. I outright reject its perceived overall usefulness and I think it would be a wildly net negative for the world for it to become mainstream. Just as a baseline, if bitcoin and it’s mining system or whatever it’s called became a big thing that would be yet another significant facilitator of impending environmental demise. So when I come in here now it’s absolutely to be an asshole to Penguin. And I don’t blame him for being an asshole back. He’s just some poor schmuck trying to get ahead of the game. Any way he can. Bc that’s what overriding desire in America fosters in its peoples. And it’s got his head so far stuck up the crypto worlds ass he doesn’t see anything else. And fucking hell, I’m sure it would be tremendously inconvenient to his life by now if he chose to pivot away from the industry. Of course he’s gonna bristle when some random poster shits on him. Lyrtch is not wrong at all that this space has been largely embraced and pushed by a libertarian ideologies. And there is tons of correlation (if not outright causation?) of libertarianism and racism and bigotry. I don’t think Penguin is that, but I think he’s ignorant for not seeing that in his space. He’s admitted to at the very least being politically atheist, so ignorance tracks with that. And that makes me distrust his judgement even more. And shit, the more crypto pays off for him, the more likely he is to fall into the hate groups that have found a home within the libertarian, and thus crypto, communities. Hope he doesn’t though!
Lol at however you came to this conclusion to believe this. Andy Reocho just said I was super helpful in the past. And I told him I maybe was $10k out of pocket before I got 'lucky'. The shitposting and attacks ITT and others are a result of people like you coming here just to troll and attack. You're making this personal.. over what?
Let's all learn about why crypto exchanges temporarily hold your funds (depending on how your deposit them.. hence via crypto or bank) together! No need to name-call or call people liars, either. https://help.coinbase.com/en/coinbase/getting-started/getting-started-with-coinbase/funds-on-hold Due to banking regulations..
I don’t have any remembrance of you until lately. And no one was ever mean to me when I would come into this thread to learn about crypto. Im not an asshole to you or any of the other crypto bros in here bc you were assholes to me. Y’all weren’t. Im an asshole bc I’ve come to the conclusion that crypto is dumb. And I think y’all are being dumb assholes for getting in bed with it as deeply as you are.even if it’s being profitable for you currently. This isn’t a moral high ground thing, where I feel like one of us is a nicer person or whatever, or more justified. I’m being a rude asshole. I know I am. I just straight up think the crypto industry is a dumb asshole industry.
I think wasting your time trolling, shit posting, or bitching about something you think is dumb or you're not interested in is... dumb What a strange reason to admit to being an asshole on the internet
I’ve never trolled you. I’ve just pointed out the dumb ass things you say. And spoken my opinion on crypto. posting a thread for crypto bros where crypto bros believe in crypto but point out its trouble spots is not trolling either.
Weird I can instantly transfer crypto to USD to my bank in seconds/minutes. From my hardware wallet. Anywhere I have internet access. Back to your original point.
If you refer back I admit to acknowledging everything you're attacking me for to another poster. I've "trolled" or responded the way I have because other people like yourself came in here and made some weird and random attack. Spend the rest of your day doing something that interests you.