Bitcoin !! i dont get it !!

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Bitcoin !! i dont get it !!

Post by rSin »

Was advised to in 2010. Heh. Never did though.
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Bitcoin !! i dont get it !!

Post by dill786 »

well...

1 bitcoin now is worth $56k

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Post by dill786 »

anyone heard of NFT crypto ?

non-fungible token,

this is the new big thing,

well i say new, it was new for me

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Bitcoin !! i dont get it !!

Post by bentech »

from what i gather its blockchain validation, rather than crypto
that affords the ability to verify the ownership of a single bit of electronic anything

thus allowing its sale for astronomical prices...
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Post by dill786 »

like digital art

i wonder how much the next banksy is gonna cost if he just releases his pic with a NFT

coz digital art is a $1 billion dollar industry..

can you belive it people are collecting digital art

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Bitcoin !! i dont get it !!

Post by Intrinsic »

I've been ripping off digital art from the internet since 1992. Not really collecting... :grin:
It is Just a bit stream. :dunno:
Used to pretty cool ASCII art pre millennium.

But, nope, first i heard of NFT crypto.

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Post by dill786 »

basically, a NFT is a digital certificate as ben mentioned, so if your an artist or just a guy you can with the NFT make your art/pic/vid an ORIGINAL and you can auction it off and sell it on and if it sells further on down the lane as in the guy who bought it off you as an original had sold it on for a profit you will make 20% of that deal and if it gets sold further on you keep picking up the royalties..

the NBA are selling "moments" an NTF, 12-second clips of a historical event is being auctioned off and people are collecting them like Pokemon cards, the more rare something is the more its worth....

its called "NBA top shot"
Basically, Top Shot is an online marketplace for buying, selling and trading digital NBA cards. But, instead of physical pieces of cardboard with players' photos and stats on them, Top Shot's "cards" (which are called Moments) are built around specific video highlights.
Last edited by dill786 on Fri Mar 26, 2021 12:41 pm, edited 1 time in total.

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Bitcoin !! i dont get it !!

Post by dill786 »

i bought some crypto a few day ago..

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Post by deran »

my first btc purchase was when it was around 10 bucks worth (euro/dollar .. all the same crap)
next buy was when it was 70/80 bucks worth, i still have 0,4 bitcoins inside this wallet, but what i dont have anymore is the username and the password ... doh ... not lol
then i bought some when it was around 1000
and
my last purchase was about a year ago, when it was about 6k or 7k around

first, before you buy some, make yourself clear what you wanna use it for, bc this "dictates" the way you purchase it, legal or illegal activities, onion network (TOR) or not
my last purchase was totally legal, so i went the "easy way" :

made an account at https://www.blockchain.com/" onclick="window.open(this.href);return false; , with my regular email account, there you get all infos you need for the next step

log on into your online banking account and transfer your money to the blockchain bank, the amount you specified previously , in my case i wanted to purchase btc for 100 euros
(it is really a matter of minutes, if not seconds while refreshing F5 your both banking account views until you see your deposited funds) ... your money is now in your personal wallet - its not a trading wallet, those a 2 separate wallets/accounts, so before doing anything further actions and/or transactions, you need to open your trading wallet, which you need, of course, to generate, now that you have your btc inside your trading wallet account, you are able to buy things, sell things, swap things, that means you can change your btc to any other crypto currency or to other "real world currencies" , like buying dollars from btc , which were euros previously, or British pounds ; the cool thing about blockchain is, that you have an added stock exchange, which means that you bought btc from a regular bank your first time, but now you can buy btc from private ppl and also sell them to private ppl, which again means that you got other modalities than the bank itself, you can buy em cheaper, or more expansive and also sell them for your terms, you can program the software, like say buy when its below x and sell if its above y , simple but efficient broker utilities - helpers.

i sold those btc i had a month later, and dont forget there are a few fees included for buying and selling and swapping and trading, they arent rly much, but its not to be forgotten, with other words, if you buy for 100 bucks, and you sell em the same minute you purchased some, you would make a loss of about 10%, anyways, a month passed bye and i sold em again and made like nearly 3 euros win, 3% win for a month is - awesome - for just clicking a few times within your browser and/or smartphone, if i had it until today , i would have now about 1000 euros, a win of 1000%, thats insane, but thats real, meaning that one day tax investigation might knock on your door to ask you some uncomfortable questions ... i didnt had the patients to wait for a year .. but you have this - my lessons learned moments - for your good, and free of course :D

ppl dont get one basic thing in their mind, and thats the difference between gambling and trading, gambling - like say horse races or dog races, are what most ppl think of when they wanna invest , but thats the wrong mindset, investment has a time frame that is measured in months and years, while gambling is something measured in hours and days, thats the main culprit why they loose funds, your best bet is to buy some btc, and just leave em be for a year or even two, without your curiosity interfering with that plan, dont worry, btc wont crash within that time frame, thats a guarantee , take it or leave it , your choice :)

if you wanna buy some things online from the so called dark web, onion markets, you need to act different from the very first moment on , meaing that you first need to run the tor browser, then with it enabled (best in combo with a vpn) get urself 2 different email acounts , 2 different wallets and 2 different trading wallets, all them separated with different exit nodes and different browsing fingerprints, thats the only way to get legal money into the grey area, and from there on , via a mixer, to mix btc up, and use em in illegal activities , without anyone knowing that it is you (your identity) behind the btc transfers, while btc might be called anonymous, its far away from that, bc as the name says, blockchain is a global transfer algorithm, thats for everybody visible and accessible, knowing this dictates the way - your modus operandi - log on , log out, transfer and so on ...



if you have some further questions, let me know, i might be able to help you with this

take care mate ;)
awoken

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Bitcoin !! i dont get it !!

Post by dill786 »

thanks for the write-up

what do you think about polkadot ecosystem crypto ?
and also uni -swap wich is a DE-FI platform

things are moving so fast,

some of these grass roots crypto/platforms coming up, like Polkadot whos platform will be to let all the crypto trade with themselves instead of their own blockchain only,

imagine that all crypto on one platform integrated and seamless....

not now but maybe in a few years time, if you hold onto these new cryptos, i never knew there were over 9000 diff types of crypto

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