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Are members invested in Bitcoin/crypto?

Walrus
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stonestone stonestone
I continue to hold Bitcoin largely based on this exact reasoning. That said, I was quite surprised to read this from an article in the WSJ recently:

“…Mr. Chow is one of a handful of people who can write changes into the software that underpins the nearly $500 billion cryptocurrency. Their role is critical to bitcoin, yet is largely unknown to the millions who own it.

Known as maintainers, he and four other coders serve as stewards of Bitcoin Core, an open-source program that keeps the cryptocurrency’s digital ledger up-to-date on thousands of computers that make up its network. Their longtime leader departed Thursday, reducing the group’s size to five from six.”

You can read the full article here. https://www.wsj.com/articles/bitcoin-core-maintainers-crypto-7b93804

Curious what others think of this, as it suggests that while BTC may be decentralized, it is rather dependent on software maintenance from a handful of individuals whose selection, responsibilities, qualifications and potential conflicts of interest are all rather opaque.
I don’t think it’s an issue although i understand some do but it goes back quite a while when satoshi handed the reigns to Gavin. There was one guy the non profit wanted so bad he got payed a large bag of Bitcoin, very large and I think he had to devote 10hrs a week to coding. I had some decent articles on the subject but they are all on Reddit. Nothing I wrote myself mind you just copy and paste. It is interesting stuff but if anything they are staunchly against major change. Found a little article not that great
https://www.coindesk.com/business/2...tion-states-and-corps-roll-in/?outputType=amp
 
Spacefruit
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As I understand it, anyone with skills can propose a change to the Bitcoin code.

it’s up to the miners to adopt it - if it is not adopted then the block chain forks. Usually to die, see Bitcoin cash and Bitcoin gold. Two of the more supported, though ultimately doomed proposed changes to Bitcoin.

I say again I am no expert this is my understanding.
 
Omegafanman
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Spacefruit Spacefruit
On one hand we have Bitcoin, a democratic trust-less unit of account, and CBDC’s, a totalitarian control system.
because it’s all so new, many do not understand this fundamentally Good vs Evil situation

If it all boils down to power and control (which I think it does) and keeping in mind bitcoin needs vast energy and infrastructure, to what degree can anything be outside of the system and what steps will the system take to maintain or enhance its position, including fighting fire with fire? Sadly it’s a lot easier to spot evil than good… and evil often masquerades as good anyway. Failing that we can still just fall foul of the law of good intentions a lot of the time. Optimism is the new resistance so I will endeavour to remain positive on the potential.
 
Twocats
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Omegafanman Omegafanman
If it all boils down to power and control (which I think it does) and keeping in mind bitcoin needs vast energy and infrastructure, to what degree can anything be outside of the system and what steps will the system take to maintain or enhance its position, including fighting fire with fire? Sadly it’s a lot easier to spot evil than good… and evil often masquerades as good anyway. Failing that we can still just fall foul of the law of good intentions a lot of the time. Optimism is the new resistance so I will endeavour to remain positive on the potential.
Gary Gensler AKA Goldman Gary has declared every crypto a security apart from Bitcoin. The folks over at ETH are experiencing a British phenomena known as Squeaky Bum Time. Ripple should get summary judgment this month which really makes no difference because whoever is on the losing side will appeal drawing it further away from clarity. The SEC is on a crusade it seems.
 
C
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I prefer investing in businesses and real estate. Bitcoin is too unregulated for my taste, and I am focusing on income producing assets in 2023.
 
dsio
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C chronolux
I prefer investing in businesses and real estate. Bitcoin is too unregulated for my taste, and I am focusing on income producing assets in 2023.
Mate be careful to not be post farming, if we find you’re posting one line replies in rapid fire to threads you won’t get FS access at 200 posts. Just letting you know in advance.
 
dsio
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https://www.wsj.com/articles/justic...apse-of-do-kwons-terrausd-stablecoin-10bd5ffb

This is very, very good news. Right now this whole industry is so bad that when I meet someone in a crypto space I just assume they’re a criminal until proven otherwise.

Its way past due that some of these guys get thrown in a dark hole for a long time, as the saying goes “in this country, it is good to kill an admiral from time to time to encourage the others". Ironically regulation, and some criminal prosecution is going to be what saves the industry.
 
Walrus
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I’ve just been a holder for a while as I liked the original libertarian idea of Bitcoin. All the stable coins and alt coins aren’t of much interest other than eth. What I’m not getting is why is Bitcoin up 16% to 26k? In a week. It had a solid gain Monday I was expecting a crash with the banking turmoil Monday and Barney Frank trying to blame the banks failure (he sits on the board of the bankrupt bank) on crypto. I’m not against regulation I don’t like to see all these scam coins come out and scam exchanges we all know banks that deal with just fiat currency are solid, never scam and never have massive failures like in 2008.
But in reality I’m just in it modestly to see where it will go in the future. Months can go by without me checking my wallet I figure in ten years we will see if it fit into society, I figure 0 or hero or something in between. I don’t particularly care if people hate it or love it. I don’t think it will make me rich and I’m playing with House money now so I’m looking it at it as a very volatile diversification I did start playin a bit with the swings between 18k and 26k but just for side money. It I hadn’t been in the space for years I don’t know if I’d enter it today. God knows it gets a lot of negative press but silence when it jumps 20% in a day. There are words printed saying a lot of the negative press and silence on its resilience is due to the government preparing us for the central bank digital coin, that could just be conspiracy talk.
I have bought a couple things with Bitcoin and ethereum. The Bitcoin went smooth and cheap as I used the lightning network. Ethereum is definitely getting better with the upgrades last year I was going to buy a watch from someone here with eth but at that time the fees made it nonsensical. They have comedown quite a bit and are going to continue to decrease. So that was kinda cool to see. The transaction speed was almost immediate. I like how ethereum now uses 98% less power. It’s amazing that Vitalik and crew can do these live updates with billions on the line but whatever. It could all go kapooy in a second I guess we shall see what happens.
 
Twocats
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dsio dsio
https://www.wsj.com/articles/justic...apse-of-do-kwons-terrausd-stablecoin-10bd5ffb

This is very, very good news. Right now this whole industry is so bad that when I meet someone in a crypto space I just assume they’re a criminal until proven otherwise.

Its way past due that some of these guys get thrown in a dark hole for a long time, as the saying goes “in this country, it is good to kill an admiral from time to time to encourage the others". Ironically regulation, and some criminal prosecution is going to be what saves the industry.
Any good actor in the industry welcomes this investigation as well as the FTX collapse. In the USA the SEC is coming hard for crypto as a whole and the three banks that had a run on them this weekend were all very crypto friendly. John E Deaton a well respected crypto lawyer believes it's the SEC trying to squeeze the crypto off ramps until JP Morgan and the likes gets control of the industry.

I am just waiting for judge Torres summary judgment on the SEC vs Ripple case, either way its going all the way up to the Supreme Court but this ruling will tell us if the corruption in Washington is as bad a Twitter leads us to believe.
 
Observer
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Walrus Walrus
I’ve just been a holder for a while as I liked the original libertarian idea of Bitcoin. All the stable coins and alt coins aren’t of much interest other than eth. What I’m not getting is why is Bitcoin up 16% to 26k? In a week. It had a solid gain Monday I was expecting a crash with the banking turmoil Monday and Barney Frank trying to blame the banks failure (he sits on the board of the bankrupt bank) on crypto. I’m not against regulation I don’t like to see all these scam coins come out and scam exchanges we all know banks that deal with just fiat currency are solid, never scam and never have massive failures like in 2008.
But in reality I’m just in it modestly to see where it will go in the future. Months can go by without me checking my wallet I figure in ten years we will see if it fit into society, I figure 0 or hero or something in between. I don’t particularly care if people hate it or love it. I don’t think it will make me rich and I’m playing with House money now so I’m looking it at it as a very volatile diversification I did start playin a bit with the swings between 18k and 26k but just for side money. It I hadn’t been in the space for years I don’t know if I’d enter it today. God knows it gets a lot of negative press but silence when it jumps 20% in a day. There are words printed saying a lot of the negative press and silence on its resilience is due to the government preparing us for the central bank digital coin, that could just be conspiracy talk.
I have bought a couple things with Bitcoin and ethereum. The Bitcoin went smooth and cheap as I used the lightning network. Ethereum is definitely getting better with the upgrades last year I was going to buy a watch from someone here with eth but at that time the fees made it nonsensical. They have comedown quite a bit and are going to continue to decrease. So that was kinda cool to see. The transaction speed was almost immediate. I like how ethereum now uses 98% less power. It’s amazing that Vitalik and crew can do these live updates with billions on the line but whatever. It could all go kapooy in a second I guess we shall see what happens.
I expect BTC is rising because its reason for existing is front page news.
 
Omegafanman
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Walrus Walrus
CBB8DE2D-E401-4B14-B1DF-3768859D0EAB.jpeg

101% spread achieved - impressive. Most people can only achieve a maximum 100% so this is gold standard risk-off advice for sure…..
 
Walrus
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Omegafanman Omegafanman
101% spread achieved - impressive. Most people can only achieve a maximum 100% so this is gold standard risk-off advice for sure…..
Leverage and margin.
 
hoshimachi
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Bitcoin reminds me of high-end vintage rolex watches.
The rich gets to decide the price.
 
Walrus
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hoshimachi hoshimachi
Bitcoin reminds me of high-end vintage rolex watches.
The rich gets to decide the price.
Kinda like everything else on the planet
 
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