HoagiesDad t1_izcpon9 wrote on December 8, 2022 at 3:22 AM

Reply to comment by Encid in Ethereum’s energy switch saves as much electricity as entire Ireland uses | The success of The Merge concept may now serve as a roadmap to enable a switch from Proof of Work to Proof of Stake in Bitcoin. by chrisdh79

Ouch. True believers in this one also

https://coinmarketcap.com/currencies/feathercoin/

There are 90 pages of crypto currency’s and I’m not gonna bother counting how many per page. Bitcoin is number #1 through hype. That can change in a day.

Encid t1_izctntg wrote on December 8, 2022 at 3:54 AM

Bitcoin is #1 due to POW, nobody controls it and there can only be 21m no dilution ever that is why it is proposed as a store of value, like gold.

Any other cryptocurrency has developers behind it, POS and unlimited amounts of coins become available if the devs want it, Bitcoin and all the others are not in the same realm.

after having read and research many coins perhaps there is one nobel technology idea that may have real applications the rest are bad investments/scams.

HoagiesDad t1_izcvt8l wrote on December 8, 2022 at 4:13 AM

Listen kid. Take some advice and invest in what Warren Buffet says. Your get rich quick schemes are stupid. Berkshire Hathaway has set me up for a nice retirement.

Encid t1_izcwxk7 wrote on December 8, 2022 at 4:23 AM

Hahah I’m probably older than you think and in track to retire in 9-10 years, Bitcoin is 3% of my well diversified portfolio.

I understand a technological advancement when I see it, you sound like the people that thought the internet was for chatting in the early 90s.

No rich quick scheme here, compound interest and hard work pal.

HoagiesDad t1_izcztnh wrote on December 8, 2022 at 4:48 AM

I’m 57, retired at 55. I put my money in real estate and Berkshire Hathaway and my partner is a nerd computer guy. Trust me when I says he’s smarter than you. My partner and I aren’t really risk takers but we certainly have done very well. He’s still working because he loves his job. He plans to retire in two years and we are off to live in Palm Springs. My partner before him was a stock broker so I do know a thing or two about investment.

So, while I may not fully understand blockchain technology, I know it’s still in its infancy and will take possibly decades to fully implement. Investing in early technology is risky as fuck. It’s not for people who have money to lose. Stop trying to sell Bitcoin. If it’s going to emerge it needs to be stable. That, it certainly is not the case now.

Encid t1_izd2lly wrote on December 8, 2022 at 5:15 AM

I think you lost track, this was a conversation on energy use, POS vs POW, I’m not selling anything I’m expressing my educated opinion on a matter you seem to not understand, and blockchain has nothing to do with it, the benefits to the financial system are endless but you don’t see because you don’t understand the friction in the financial system.

Imagine Bitcoin as the rails of a public train own but people all over the world with nodes, and anybody can then transfer money in a frictionless manner. Visa built the same using billions of dollars and it cost retailers 2-3% per transaction, western ion built the same and they charge up to 13% per transaction that paired up with no inflation and store of value is the technological advancement.

Parroting BRK talking points shows how little you understand of the financial system, it is honestly sad, lastly did you know BRK was a textile company? Companies/tech needs to evolve or they will slowly wither.

What worked for you at 55, is not going to work for younger people just think about that for a second.

HoagiesDad t1_izd32hz wrote on December 8, 2022 at 5:20 AM

Meh. You just seem like a dick. You don’t have to restate you think I’m an idiot. I’m just happy I didn’t buy bitcoin in the last year. You can’t even admit it was a good move on my part.

Encid t1_izejx6z wrote on December 8, 2022 at 3:13 PM

You just don’t like people probing that you have lack of critical Thinking and that you play in a financial system you know nothing about.

And I do think not buying bitcoin and balancing your risk portfolio and using it is a huge mistake. Your sort term thinking is beyond belief. Look back in 10 years and tell me if buying bitcoin at 60k was a mistake. Also most people buy bitcoin DCAing same as the stock market, buying all at once at an all time high is not even advised your BKR.

Sad that a 55 year old is so closed up and ignorant.