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The anti-crypto thread

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Lost_in_the_HTTP said:
Yup, real super secure .....
Click to expand...
He didn't really "steal" it back from the gov't, probably just re-created the wallet from the seed phrase. Remember, the Bitcoin lives on the blockchain, not in your specific wallet file.

Remember to protect those seed phrases!

Edit: It's arguable that the gov't didn't really "seize" the Bitcoin, only the wallet. If the gov't had control over the wallet, then they could have moved the Bitcoin to another wallet that only they controlled. They screwed up, plain and simple.
 
I'm not discussing it. I oppose it fully in all regards, inclduing the silly made up terms.

A 'seedphase' is in the spring when the ground starts to warm and is ready for planting.
 
VirtualLarry said:
He didn't really "steal" it back from the gov't, probably just re-created the wallet from the seed phrase. Remember, the Bitcoin lives on the blockchain, not in your specific wallet file.

Remember to protect those seed phrases!

Edit: It's arguable that the gov't didn't really "seize" the Bitcoin, only the wallet. If the gov't had control over the wallet, then they could have moved the Bitcoin to another wallet that only they controlled. They screwed up, plain and simple.
Click to expand...
so what does one keep in a wallet, exactly?
even if you can't use the bitcoin yourself, you are also preventing it from being used elsewhere.
 
VirtualLarry said:
He didn't really "steal" it back from the gov't, probably just re-created the wallet from the seed phrase. Remember, the Bitcoin lives on the blockchain, not in your specific wallet file.

Remember to protect those seed phrases!

Edit: It's arguable that the gov't didn't really "seize" the Bitcoin, only the wallet. If the gov't had control over the wallet, then they could have moved the Bitcoin to another wallet that only they controlled. They screwed up, plain and simple.
Click to expand...
Yeah, and if the police fail to lock up the impound lot, people can just walk out their and steal any car they can hot wire.
 
Zorba said:
Yeah, and if the police fail to lock up the impound lot, people can just walk out their and steal any car they can hot wire.
Click to expand...
I'd think it more akin, to if the police impounded a photograph, and I still had the roll of negatives, and I just printed another photo. It doesn't matter that the photo that the police took had a "secure frame".
 
Fenixgoon said:
so what does one keep in a wallet, exactly?
even if you can't use the bitcoin yourself, you are also preventing it from being used elsewhere.
Click to expand...

What my understanding the wallet as far as what you have on you (ex: software or hardware one) is more like a key to access the ACTUAL wallet, which is on the blockchain.

It's kind of like if you have a safety deposit box at a bank, the wallet is your key to that box. Say someone steals your key, but you know how to make another one because you took a picture of it, you can just CNC machine a new key and then go get the money that they "stolen" assuming they never went to the box to take it.

I think that's basically what happened here.
 
VirtualLarry said:
I'd think it more akin, to if the police impounded a photograph, and I still had the roll of negatives, and I just printed another photo. It doesn't matter that the photo that the police took had a "secure frame".
Click to expand...
No, because that is a copy. Did they copy the Bitcoin or take the value of it?
 
copying wallets, does not copy the Bitcoin that they "contain", because the Bitcoin resides on the blockchain. Wallets are just public/private key pairs, and ledger entry copies.
 
BFG10K said:
hothardware.com

Swiss Researchers Develop Gold Coating Breakthrough To End Eyeglass Fog Forever

A group of Swiss researcher have found a cost-effective way to end one of the banes of eyeglass-wearers everywhere—foggy lenses.
hothardware.com hothardware.com

"Gold has no intrinsic use, it's all for shiny jewelry!" - internet cryptobros.
Click to expand...

Gold has been a highly useful industrial metal for decades. Something like 40% of Gold is used for electronics and other industrial uses. Usage would be higher if it wasn't so expensive and rare.

Even if gold was only used 100% for jewelry and currency, it would still be different that Ponzi coins. Golds scarcity is real, not an artificial construct.

The Ponzi coin artificial scarcity is used to give people FOMO, rush in a get your numbered commemorative Elvis plate, only 100,000 made, sure to go up in value (minus the plate, you are just buying a number).

No scarcity of people that want in on this scam by making their own Ponzi coin. No surer way to get in early on the Ponzi scheme than to create your own. Satoshi Nakamoto still is the biggest holder of Bitcoin. Last I checked there were over 10,000 different Ponzi coins, because somehow this grift is still legal.
 
VirtualLarry said:
copying wallets, does not copy the Bitcoin that they "contain", because the Bitcoin resides on the blockchain. Wallets are just public/private key pairs, and ledger entry copies.
Click to expand...
That's what I said. That is why your photo analogy makes no sense. I can't walk on to a police impound lot and take my car back just because I have the key. If police have seized your crypto, it's probably similarly illegal to take it back just because you have the key.
 
BFG10K said:
hothardware.com

Swiss Researchers Develop Gold Coating Breakthrough To End Eyeglass Fog Forever

A group of Swiss researcher have found a cost-effective way to end one of the banes of eyeglass-wearers everywhere—foggy lenses.
hothardware.com hothardware.com

"Gold has no intrinsic use, it's all for shiny jewelry!" - internet cryptobros.
Click to expand...
Gold has plenty of uses outside of jewelry. That's just the most obvious one.

Diamonds also have significant industrial use (cutting tools) in addition to being highly desired for jewelry
 
BFG10K said:
hothardware.com

Swiss Researchers Develop Gold Coating Breakthrough To End Eyeglass Fog Forever

A group of Swiss researcher have found a cost-effective way to end one of the banes of eyeglass-wearers everywhere—foggy lenses.
hothardware.com hothardware.com

"Gold has no intrinsic use, it's all for shiny jewelry!" - internet cryptobros.
Click to expand...
Gold has plenty of uses outside of jewelry. That's just the most obvious one. Gold coatings have been used on aircraft cockpit windows for quite a while for EMF shielding.

Diamonds also have significant industrial use (cutting tools) in addition to being highly desired for jewelry
 
Zorba said:
That's what I said. That is why your photo analogy makes no sense. I can't walk on to a police impound lot and take my car back just because I have the key. If police have seized your crypto, it's probably similarly illegal to take it back just because you have the key.
Click to expand...
It's more akin to the police "seizing" your car parked outside your house, by taking your set of car keys with them, but neglecting that you had a spare set, all without driving your car to an impound lot.
 
Didn't they use gold to coat the mirrors of JWST as well? Gold has really interesting properties that allow it to be used for things like that, and it does not corode either, and it's also a good conductor of heat and electricity.

Silver has lot of uses too, I feel that is going to blow up eventually. It's rediculously cheap right now compared to gold. I've been putting some money into it, I'm at 110oz now.
 
Red Squirrel said:
Didn't they use gold to coat the mirrors of JWST as well? Gold has really interesting properties that allow it to be used for things like that, and it does not corode either, and it's also a good conductor of heat and electricity.

Silver has lot of uses too, I feel that is going to blow up eventually. It's rediculously cheap right now compared to gold. I've been putting some money into it, I'm at 110oz now.
Click to expand...
i own 1 silver dollar, so 1oz for me. (new mint condition in it's own protective case)
i think i bought it for $30.
i just wanted to own one.

i also have a $5 (?) gold coin along with a certificate of authenticity.
it's about the size of a nickle. 😱
graduation present from grandparents many decades ago
 
The whole idea behind crypto is that it's not regulated and decentralized so it shouldn't be banned, but people should realize that when they use it, they're on their own.
 
Red Squirrel said:
The whole idea behind crypto is that it's not regulated and decentralized so it shouldn't be banned, but people should realize that when they use it, they're on their own.
Click to expand...
Crypto creators don’t get to decide if their actions are subject to regulation. If they engage in banking or securities activities that fall under existing regulations then they are regulated like anyone else engaging in those activities. To think otherwise is hubris.
 
Red Squirrel said:
The whole idea behind crypto is that it's not regulated and decentralized so it shouldn't be banned, but people should realize that when they use it, they're on their own.
Click to expand...
And look how well that's working out. Do you think any financial institutions or transactions should be regulated in any way shape or form?
 
BFG10K said:
hothardware.com

Swiss Researchers Develop Gold Coating Breakthrough To End Eyeglass Fog Forever

A group of Swiss researcher have found a cost-effective way to end one of the banes of eyeglass-wearers everywhere—foggy lenses.
hothardware.com hothardware.com

"Gold has no intrinsic use, it's all for shiny jewelry!" - internet cryptobros.
Click to expand...

that's really cool....but I wonder what is the effect of all of that IR energy now being trapped at eyeglass-distance from your face, does for the ambient temperature and how it effects your eyes and face...which, I imagine it is such a small and thing plane trapping a low amount of heat, that it probably makes not much difference...unless keeping the water droplets off your eyeglasses during cold fall weather is more sending all that excess water back to your face, where it's most likely to adhere and start, eh, growing things that didn't used to grow there....eh.
 
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