This thread should be a little easier for people to find, and exists to home broader topics beyond just Bitcoin.

Topics we hope to cover:
•Mining
•Crypto exchanges
•DeFi projects
•Best practice
•How-to’s and tutorials for those looking to test the waters
•Hot vs. Cold wallets/storage
•Keyed pairs and what constitutes Ownership

We will be sure to actively mark informative key posts to ensure the same, common questions are covered and to avoid confusion with multiple explanations.

This may even include branching into existing topics such as trust funds and publicly traded companies that work with Crypto.

Rules will be added to this post later as well. Over time this main post will be edited with links to the most pertinent subjects and their associated posts.

Hopefully this can condense some topics and bring together some others who may be scattered across vague threads, so we can have a cohesive and uniform place to share with other enthusiastic participants of Decentralized Finance.

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Added, thanks for joining guys!
I hope to learn more about staking as well. A buddy of mine has been harassing me to start doing it, I just accepted a new job that will free up my schedule and allow me to invest more in crypto. Looking forward to learning and cultivating an informative crypto community here while we all play pinball

Doge is a memecurrency, started as a joke. It’s not really mocking crypto, it was just made to be a silly and fun way to participate in crypto. Similar to paper stocks almost. It actually has found a very useful and fruitful life as a sort of digital tipping currency. We see it emulated on Twitch and Youtube and Reddit.

I don’t participate in any of those. However, tipping users in tiny bits, or coins, or karma has been ridiculously popular. It is infinite theoretically but in reality it started with a 100 billion cap, then the creator decided to add 5b extra every year for miners to account for inflation and keep the crypto ecosystem alive for Dogecoin. I bought in around .005 I believe, but have sold most of mine off.

Maybe it’s finally coming into its own, hard to say. I don’t see Doge really going beyond maybe 10¢ considering the monstrous holdings of early adopters. Compared to bitcoin the whales hold ridiculous amounts of Doge. For the costs back then, Doge’s percentage increase rivals bitcoin.

BitMEX apparently holds the blame for blowing up Doge: “BitMEX signed a perpetual trade exchange value contract with Dogecoin as well. This is a huge deal. it provides a proper value to Dogecoin and its ability to trade directly with Bitcoin and other currencies.”
https://theglobalcoverage.com/2021/02/05/dogecoins-6th-february-prediction-doge-percentage-of-pump/

There is a limit. Right now there are 128 billion Dogecoins. There is an extra ~5b or so added every year to curb its inflation rate. Even at that rate, adding 5 billion every year, it will take ~174 years to get 1 trillion Doge in circulation.

Dogecoin is a meme but it’s not as crazy as you guys suggest, there are plenty of other shitcoins that are genuinely unlimited.

Compared to the Fed, 5 billion a year is child’s play!

Here’s a good one.
Just drives you mad wishing I put more in!!
Bitcoin was only $300 at this time and we all thought that was expensive...

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Someone asked about Etherium Classic vs Etherium on the Stock thread so I figured I’d write the story out here and include some good links.

The story: a totally independent, decentralized fund was created. Everyone invested could vote on what they wanted to invest in.
(Imagine if on Pinside everyone here on this thread was able to place a vote for what stocks we bought as a collective.)

This unregulated, leaderless fund sounded like a great idea, except it had securities flaws right off the bat and was immediately hacked. The hacker was able to constantly spend those tokens to his OWN WALLET to the tune of 3.6 million ether. (50 million USD at the time, and $6.5 BILLION today.)

There was a huge debate in the community with what to do. There was a 28 day grace period before the funds actually transferred completely. But because nobody ran the fund it was impossible to revert the money back.

So after the devs tried and failed to use the exact same hack to SAVE the ether, the creator of Etherium himself suggested they do a hard fork. That means if enough people running the Etherium protocol agree to disregard the entire creator of the DAO on the blockchain, then it would be killed or forked away from that block.

The problem is some diehard supporters of blockchain and Etherium believe this is against the cardinal rule of the blockchain. Everything that happens should be permanent and unchangeable. They argue whatever happens positive or negative is the true nature of the blockchain and changing it is unethical.

The group who believe “Code Is Law” and that blockchain should remain unchanged are who runs Etherium Classic now.

The 89% of people who wanted to “erase” the hack agreed to the hard fork and since they were the majority the hard fork kept the Etherium name.

Etherium Classic is the original, unaltered version where $6 billion USD of Ether is sitting in a hackers wallet, ready to be spent. They did convert 100k Ether into bitcoin but never touched the other 3.5m
Obviously Etherium is better as it has had many updates (also called forks) that have made it better and better.

They are called forks because obviously 2 identical splits are made. They share the entire history of blockchain up until the fork.

Some good reads:

https://www.crypto-news-flash.com/what-is-ethereum-classic-etc-dao-hack-comparison-with-eth-roadmap/

https://www.tokenmeister.com/blog/blockchain/the-dao-hack-the-story-of-the-strangest-digital-attack/

I’m in an announcement channel that keeps me abreast of WSB and other social media market hijinks. Their latest was suggesting these dips we are seeing is due to whales trying to shake free any uncertainty in crypto and liquidate large short positions. Seems like it hasn’t been working and has steeled most traders

Bitcoin at $57k and showing no signs of stopping! Madness.

After nailing my previous call, I feel confident in saying we’ll likely push into 75k territory before the next pullback. Looks like “the *next* big drop” is gonna be a long way out yet!

You don’t get rich overnight. HODL isn’t a “meme” it is a mentality.

If you check prices every day and every hour, weak hands may get psyched out and sell for a loss.

If you are a long-term buyer and pick a date in your head, these fluctuations are meaningless. Say you bought January 2020 and said “I will hold for a year and sell”
You would have paid ~8k for one Bitcoin and sold for around ~30-39k USD in Jan 2021.

It’s all about how you look at it! Remember it’s not “lost” till you sell! (DON’T SELL)

It’s because Yellen just said she thinks crypto is bad and they plan on “regulating” it. (As if they can lmfao) bitcoin is STILL banned in China and yet 40% of miners are located in China and they crack down on them all the time.

They MONITOR electricity to determine who may be mining and yet still thousands are risking it. Regulation by any government means little.

Haven’t been able to really check this thread often, but I see the FUDer’s are hard at work still. I’m baffled why so many of these geniuses who have “figured out the market” still post in this thread if it’s all a big political conspiracy?

Here’s the truth for all you crypto cats in here: the bitcoin market has been controlled by whales since the beginning. Nearly 90% of bitcoin is stored in less than 1% of wallets. A dear friend of mine bought into bitcoin way way back before most people even registered on Pinside. He is seriously part of that 1%. His “hot wallet” has over 300 bitcoin in it that he just uses for spur-of-the-moment trading. The majority of his ₿ are stored offline.

You can pay for some of the whale monitoring services, they pick the tips and the bottoms for this market.
Buy it and hold. Buy more when it goes on sale.

Anyone who doubts this or calls it a conspiracy is just sad and deluded. Should have bought ETH back when I was saying it’s gonna triple. Here we are. 2.0 is realized and it’s gonna keep going. Most of these artificial drops we are seeing are being done by the big whales to test the market and shake out loose hands while also panicking institutions to try and keep the price somewhat low.

Price means nothing to whales, it’s all about how many bitcoins you have and who has them. Look for the next big coin that will add actual utility to the crypto market. Crypto has stagnated and lots of coins are underwhelming right now. Hopefully we will see some real innovation soon.

Wow, I've been ignoring crypto and just HODLing for pretty much the whole year.

NGL I don't understand what the digital-monkey's is going on here.
I don't understand these NFTs or staking at all. I wanted to get into it but it appears like they required a shitton of KYC and I'm not into that. Crypto is supposed to be anonymous, but they expect to tied everything to my banks and government ID?? WTF

How do you get into it? Seems like I need to get ETH from somewhere and transfer it to the NFT marketplace of my choosing? How does this whole minting thing work?

I have no crypto. Everything was lost in a tragic house-boat server farm accident.

Continue bragging and good luck when the IRS changes their mind and comes knocking.

Suddenly the laymen begin to understand why gentlemen like ourselves have been discussing crypto for 10 years. Overreach is just insane, and it’s very sad people cannot even do what they please with their own money without permission from the state.

Sorry I ragged on your sacred cow. The dude has been quite hostile to crypto, so not sure why you want to defend him.

I do wish that governments would make up their mind. Is crypto legit, or is it just a big joke? When it supports their interests they hand-wave it. When it goes against them, they demonize it.

Crypto is financial democracy, something we desperately need if people want to speak for themselves.

It’s been a good month to buy!

I could say the exact same to you. You posted some goofy meme in response to your hero getting called out. Trudeau’s long history of blatant racism as well as using other peoples culture as a costume to virtue signal with, is actually quite related regarding his go-to deflection of “racism” or “equality” to excuse the endless terrible choices of his administration. The most troubling issue being his attack on crypto. That is pretty atrocious and brings us right back to square one!
https://news.bitcoin.com/trudeau-invokes-emergencies-act-end-freedom-convoy-protests-canadas-terrorist-financing-rules-crypto/

Thank you, this is what I was circling back to.

Trudeau’s abuse of power, now being used to attack crypto, is at the heart of why Bitcoin exists.
This isn’t some silly speculative con, this is a genuine currency, with utility, meant to end the global reign of financial terrorism holding the people of the free world hostage.

This concept that someone in “power” can decide how you use your money on a whim is nauseating. If you support that then you DON’T believe in crypto.

This isn’t new or anything, this is chump change and hilarious. The original suicide hotline thing was when Bitcoin actually crashed in 2017 after hitting 20k and then cratering to near 2k.

This sell-off is huge but high 20s almost 30k range is still huge money compared to the losses of 2017. Also 2017 was the first time this ever happened. Now we’ve already seen that Bitcoin can and will come back from the brink, several times. Even this thread is calm, comparatively.

The novelty and utter shock and terror when Bitcoin was fresh and new, the market wasn’t flooded with shitcoins, and institutional buyers didn’t even exist, is not compatible with today’s hiccup in the market were Tesla and big banks own shitloads of Bitcoin.

We know that there is now a strong layer of intrinsic value to Bitcoin and we know at this level of adoption, it will never go away.

This article is great, but another reason why I don’t bother with literally anything other than Bitcoin and Ethereum. I don’t believe in any of the other protocols and teams behind these endless shitcoins.
Satoshi was an absolute genius and his code is a marvelous piece of work.
Bitcoin is 13 years old now. That’s crazy that it’s still standing. It’s only had a handful of minor updates, it’s otherwise the work of a genius and unbelievable it’s withstood the test of time in cyberspace.
The rest of the coins are just gambling and hoping they have their stuff together. There are lots of clueless imbeciles and conmen in the computer space. The true geniuses are few and far between and it’s hard to imagine they all decided to work on different, impeccable coins

Stablecoins are a joke as being pegged to fiat is completely nonsensical. The USD is near worthless and the inflationary pressures are literally being lied about daily. Right now we are able to witness the absolute joke that is fiat, as the government is magically declaring value while the reality is that USD is crashing like a meteor.

That’s my soap box for tonight, this HODLer crawled out just to spread the good word, and buy more Bitcoin at sub 30k levels. Also Ethereum is a great price. 2k and under, buy all day long!

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This aged really well!!

I love the skeptics.
No matter what happens, I’m still positive several thousand percent. No price will ever make me sell.
Bitcoin is here to stay.
Confident this severe recession will still push Bitcoin up once it really sets in

Wow, I know I rarely post here, happy HODLer buying more, but seriously what the FUCK is going on?

Bitcoin is down to pre-2020 levels.

I will still never sell, but don’t see any reason for this insane pullback. Is it just because people are trying to cash out as the stock market is hurtling towards the center of the Earth?

I don’t get the NFT market at all.
How much did it cost you for those NFTs? And don’t you get hit with taxes and such for cashing out?

The whole thing seems so weird to me

Did you see his JPM and FRC tweets? Cramer is completely removed from reality...

Both down huge!

Bitcoin still struggles with large-scale adoption, as well as the layperson’s inability to understand crypto fundamentally. They still view it similar to a stock.

Are they saying they still don’t have that ₿ and it’s out in the world?

Agreed. Bitcoin is like a volcano, when the bulls get control, it RUNS. The adoption cycle is very early and it’s still being treated like novelty.

BIIIIIG Bitcoin dump suddenly. Anyone following? I’m getting ready to back the truck up if we get below 20k

Agreed, can’t tell if he’s just taking the piss or not.

Either way, I’m in Bitcoin forever. Can’t be more bullish than me because I’m in it so deep I don’t even believe money will be around.

My servants will handle all my transactions; small transfers of fractional Satoshis (estimated price per satoshi around 100k)

I’m a bit surprised at all this pre-Christmas movement. Really figured we’d see pretty strong sell pressure till February. The halvening will be upon us soon gentlemen!

Load up now, 2024 is gonna go vertical again.

Thanks for the update. I will send this to several older family members who are crazy about bonds. Might as well try moving them now. I lost faith in the Fed a long time ago.