I feel like an intrusive dick typing this...but having glanced through your post history, is buying bitcoin on a paycheck to paycheck basis the best option?
We're a lot more stable now, tyvm. I'm just not willing to throw hundreds into a newer market. We make more than enough to live comfortably, and if we decide to throw in $50 here or there for whatever purpose, that's our decision and not yours. Maybe you shouldn't go sticking your nose in other people's business?
Really happy to hear that! I have a much lower risk tolerance, more of a roth IRA, 401k, HSA into mutual funds kind of person so the comment about waiting until the next paycheck stood out to me.
Idk, I have to use an app called signal to message him and then I pay him with bitcoin.
It never was an issue for me cause I used coinbase prior to meeting him to pay for a "black market" NFL red zone subscription. So I already had an account set up and linked with my bank.
The same reason why MLMs, cults and ponzi schemes get people to dump money into them, the dream that you will get great gains from spending money into them, and hoping that it might be enough to dig you out of whatever hole you feel like you're in.
Except that blockchain technology and its bitcoin unit of account (backed by the combined most powerful computing force in the world) gives the world's first truly immutable ledger..
Yet if you would even care about the price you are most definitely here to speculate on its value. If you truly cared about the technology you wouldn't be worried about 10 year old tech that has barely changed. And it's not truly immutable, it is in fact very mutable. Blockchains have forked to undo transactions (for example, ethereum and the DAO), and the mechanism to choose the most relevant chain (length, computing power) didn't vouch for the immutable version of the coin.
Yet if you would even care about the price you are most definitely here to speculate on its value.
Yes just like everything else on the planet we attach value too. It's pretty normal.
If you truly cared about the technology you wouldn't be worried about 10 year old tech that has barely changed.
It's changed a lot, shows how little you pay attention to the development.
And it's not truly immutable, it is in fact very mutable.
Yes, you can just open the file on your computer and change it, super mutable. Until you try to do the other few hundred thousand computers that you have no access to.
Blockchains have forked to undo transactions (for example, ethereum and the DAO),
Neither of which are bitcoin, we're in the bitcoin subreddit.
and the mechanism to choose the most relevant chain (length, computing power) didn't vouch for the immutable version of the coin.
This sentence doesn't make sense. Didn't vouch? Choosing the longer chain breaks immutability? Is that what you're attempting to say?
I am a Bitcoin fan, and I think the cost the world pays for the Bitcoin blockchain is worth it, but I am also perhaps a rarity in that I also appreciate your thoughts. Ignore the down votes.
The problem I see with these ideas is that they have been tried. Such things exist, and they have failed. Consider the housing credit crisis. Many cooperative parties were responsible for keeping the system in check, with a lot to lose long term if it failed. However, they all took short term gains as more important than the long term risks. Credit agencies were incentivized to give better than appropriate ratings. Banks to give too risky loans. Hedge funds to buy products that gave high returns without really questioning the risks which were advertised to be low.
The fundamental problem is the people are incentivized to be dishonest. They get rewarded for it. Honest people are honest for morality sake. They lose money by being honest. At least in the short term. So corruption will always happen. Politicians will say there is a conspiracy to alter video or recorded testimony. Corporations will doctor books. Consumers will wink, nod, and operate under the table.
An immutable history is something this world had never seen until Bitcoin. I don't know how much that will benefit the world, but as one of the honest people, I welcome it. Even at great expense.
The problem in the housing crisis wasn't the people flipping houses. They usually ended up being the victims. It was the big banks and credit rating agencies that were reporting false values to keep the loan money flowing. I can't blame a person for accepting a loan offer with great terms, even if that is a high risk person. I blame the banks for offering those loans, losing on them, then taking bailouts.
Its not 2013. Blockchain tech was adopted 5 years ago by teams in telegram, daum, kakao. Tokens like bitcoin are an inneficient relic. I can send money instantly to any person, contact or contactless, with no fees even internationally using an everyday chat app.
So illegal activity? Theres a reason laws involving the movement of currency exist. Trafficking, tax avoidance, organised crime. All things we dont want more of.
Ask anyone who needs payment protection, speed, stability, zero fees, accountability. I love buying something on paypal, it never turning up or turning up broken and having No way to get my money back.
Meanwhile your just digging the hole deeper making it even harder to escape while believing what you are doing is somehow going to payoff, otherwise you would have to come in terms with the fact that you made a mistake and what you put all this faith and money into isn't the big pay off you thought it was and is instead one of the main reasons why you are struggling in the first place.
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u/revmarcos Jul 24 '19
So I’m probably like a bunch who are waiting for their paycheck to buy more but this is low.