COULD be yes, but if it was, as he claims, a name he thought up in his childhood he’d probably use it for some main character, not some random alt that does nothing other than chat about money related things on the forum. One of these two options makes more sense than the other 
Just because it makes more sense to you, does not mean it makes more sense for anyone else.
Claiming you know better than him is … I can’t find the word, arrogant ? Haughty ? Bullsh¡t ?
Could be. Or he’s making it up, which I suspect, but I could be wrong of course. Either way, no point in a back and forth o/
Either way, no point in making a personal attack. Whoever he is is not the topic.
Are Bitcoin and NFT linked ?
Also, Bitcoins were originally mined by processing transactions and algorithms. So really, the value did come from work where companies were making transactions. The idea was to offload the work to others until it blew up and others started having more ideas on what to do with it. At the end of the day bitcoin’s value is tied to a real world thing but people do put money into it like people do to stocks in hopes the price will rise to cash out
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I’m not sure you are talking from your own experience. I can talk from my own experience. check it out: Crypto mining is the best financial move I have ever made in my life.
I come from a tech background of PC and Laptop hardware and software repair, so I was already fine with building any type of pc. I did lots of research and gained a good understanding of Crypto currency and then purchased computer hardware which I used to mine/generate crypto currencies.
I have had ups and down and learned even more and I am now in a great position to maintain my very own Crypto mining company. So from my perspective Crypto has changed my life for the better by providing me with employment.
As I said earlier you should investigate this more before forming such harsh opinions, buy a small amount of crypto and then hold onto it, even as low as £100 worth of crypto, gain an understanding of how it’s generated and why the price goes up and down.
Buy or build yourself a mining rig, you could even use the old HP or Dell that you put in your basement or loft from 12 years ago, some older graphics cards can even mine crypto currency surprisingly well.
Are you trying to say that we should just all sign up for working 9 to 5 all our lives? Should you just leave your 12 year old Dell Desktop in the loft with cobwebs or should you put it to use? The world is changing my friend.
Why should we just let governments around the world have full control of currencies? Why is it a bad idea to create a currency for the people by the people? Why can’t the little guy go ahead and earn a living from crypto and get a stable income?
Why is something that you can have full control over how you earn or spend or store it a problem to you? Do you need an authority to control the finacial aspect of your life for the rest of your life or do you want to take charge and build your own legacy if you can?
Crypto is not a Scam no, but there are scammers within the crypto industry, just like there are scammers in the real cash industry and all other industries. There is always going to be someone waiting to con you out of your normal physical money just as they will try to con you out of your crypto, there really isn’t much difference.
TLDR; talk from your own experience, if you have no experience of crypto then get some experience first before committing to an opinion.
Bitcoins and NFT’s aren’t linked, they are just generated in a similar way and they are unique and exist on some sort of ledger or blockchain.
So I could create a blockchain that when people download it and mine it with a gpu to update any transactions on the ledger they are rewarded with a picture token that they can sell or hold on to. I’d have the ability to put a limit of 1 million tokens max to be created and I can list my tokens on crypto currency exchanges.
As more and more people use it and retailers sign up to accepting it, it becomes popular and increases in value.
This is basically all Bitcoins and other crypto currencies and nft’s are.
That was a TLDW from the video. But since we’re here…
Can you refute the argument that crypto is a greater fool scam?
Can you refute the claims that crypto is worthless as a currency? What about transaction speeds, forks/disputes over the state of the chain, the obliteration of consumer protections, extreme vulnerability to social engineering attacks, and the price volatility?
Why is it better that individuals control currencies instead of the governments, when the currency is worthless outside of speculation and crime, or when it’s controlled by random people (who are sometimes anonymous) who can just make changes to the state of the chain whenever it suits their interests? What mechanisms exist to hold these people accountable.
Finally, I wholly reject the idea that one needs personal experience in order to know if something is a scam or not. Do I need to buy MLM products to know that it is a pyramid scam, or give money to Bernie Madoff to find out for myself if he was actually running a ponzie scheme.
So, maybe try actually addressing the criticisms that are actually leveled at crypto, instead of pointing out how much governments suck when it comes to economic policy. I know governments suck. But that doesn’t mean that crypto is better -they can both suck simultaneously.
That’s great you’re making money from crypto, but that doesn’t mean that no one’s going to get hurt. There are, in fact, people that make money from MLM scams too. But that doesn’t mean that no one is getting ■■■■■■ in the process.
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So, are you the scammer, the potato holder, or the mark?
—Curious Gadget
So is your medical record…
—Gadget is just sayin’
Yes, I have not brought a single crypto currency, My money is invested in the hardware equipment that mine/generates crypto currency. If you have the stereotypical view about crypto where you believe it can only be purchased then yes you would agree on the “crypto is worthless and overvalued” opinion.
You are wrong, lets say Bitcoin totally failed tomorrow…since I haven’t directly brought bitcoin I would still be in a good position because the hardware i brought to generate bitcoin is still 100% mine, I could sell the hardware if I choose and get back most of my money. Only a person who has experience of crypto would understand this. I sell my Bitcoin every week after I generate it so I would only lose one weeks worth if it failed. I don’t think bitcoin will ever fail anyway. But I think you understand my point.
I’ll try my best to answer all of your points.
Just make sure you are also reading my points, I am totally addressing the issues leveled at bitcoin/crypto, there is lots of info to get through but if you’re happy to continue we can have a good insightful convo about this.
A quick question for you, what do you think of this?
It is important we see the value of things we have, what do you think of using old computers to generate bitcoin?
Also one other quick question/point while I am answering your points; You understand there are very poor people in the world, throwing together old computer parts to mine crypto currency is actually a lifeline for them. The foundation is set, El Salvador uses Bitcoin as legal tender, a person who is poor can mine bitcoin and El Salvador will probably end up as the buyer for the bitcoin/crypto they mine/generate. What is your view on this point?
Give me some time, this is a very big question which I will think about while I’m doing chores. It is important we discuss this carefully and gain an understanding, the perception of money has changed drastically.
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Can you list me the CBA of mining with that rig? Take your time, I want a complete analysis. Oh, and make a 5 year projection.
In the meanwhile, I’m going to watch : https://www.youtube.com/c/LowBudgetStories
For all that work, what are you going to pay him?
new meme : BTC I mine myself are free.
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There are many people being held down in the world which I feel governments around the world must take some responsibility for, this is how it has been for a long time. We have countries like the UK and the USA creating money out of thin air and then there are lots of people living in poverty who depend on loans and credit cards, banks/governments will bend over backwards to lend you some of this currency and then make you pay back triple what you borrowed.
They are creating £1 and then turning it into £2 by way of lending, if crypto was banned worldwide then we would just continue this miserable cycle where the majority of people remain poor for most of their lives.
Now with crypto we can generate it ourselves and exchange it for bank and government money, it is entirely up to us how much of it we want to generate per day, £1, £5, £10, £100 you can really put the work in, do overtime at your normal job to afford the graphics cards once you’re earning £20 per day through mining crypto you can start looking at other projects like adding a bit of solar power to your crypto generating and save more on electric. or you can reinvest and buy more graphics cards and increase your daily earnings.
If we can get a level of control with currency then yes we can somewhat dictate how much we want to earn, staying in a job you don’t like might be something many people can change for themselves by learning how to mine/generate crypto.
Every response I’ve given you regarding your question on why we should control currency certainly has a positive and encouraging and honest ring to it, I am struggling to see how normal people controlling their own currency is a bad thing,
Many crypto currencies are administered by a group of people who mine/generate that particular crypto currency. I believe they all have to be in 100% agreement in order for a change to happen. The types of changes they butt heads about are things like the size of a block within a chain. From what I understand if the block for each crypto unit is made bigger by a few megabytes then it would support faster transactions for example and be in a better position to handle hundreds of thousands of trransactions per minutes/second. Someone might be better at explaining this part than me but I think you get the gist of what I’m saying.
Ok, from what I understand there is an approved list of algorithms (an algorithm in mining terms is just a bit of software and functions that mine a specific coin) which all mining pools use, if a specific algorithm hasn’t been digitally signed or there it is difficulty to find the creator of that algorithm then it gets banned from all mining pools until it can be verified by it’s owners.
Miners who have some say in how the crypto currency they are mining is administrated will only ever do things to help the network become more efficient and run correctly so that it’s value increases and more people use it.
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My point was it’s difficult for me to lose value due to my frequent selling of the bitcoin I mine. My hardware investment is safe and will always have a high value because it can be used for gaming as well as generating crypto currency.
The money I have is my property, that’s why it matters who controls the currency otherwise it isn’t my property and I’m being lied to.
What does CBA mean?
The ROI on crypto mining is currently around 8 months to a year. So you can generally say anything earned after this ROI period is profit.
I won’t go into too much detail about my setup but lets just say I did get back my original investment but then I reinvested, so for me that ROI period might be constant as I am buying another graphics card regularly. But I am very impressed lets just say If I had 100 x AMD RX 6600 XT’s then my earnings would be approx £80 per day GBP with the electric cost being around £25 to £35 per day. Profit would be around £18,000 per year based on current Bitcoin price, If bitcoin price double then this example is worth £45,000 per year
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and if electricy triples (incoming) then it is negative gain.
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Yes electric price will increase but it will never be as high as the value of bitcoin. Even with Bitcoin at current value and with the UK electric price increas announced recently I still make good profit.
I’ve actually used less electric and I’ve used it more efficiently, I have 2 1000 watt electric heaters in 2 rooms that I didn’t need to turn on this winter, my crypto mining rigs almost provide heat for my entire dwelling. My rigs are less than 2000 watts so I literally have a heater which doubles as a crypto currency generator.
There is talk of a 50% rise in electric for the UK in spring 2022. My numbers still look good and it seems I have already compensated for this by using only AMD RX 6600 XT’s instead of older cards. My older cards use 86 to 100 watts each of electric for a certain level of performance…for the same performance the RX 6600s use 50 watts each.
Hmm, your points have made me want to make my solar power setup a priority now, I can shave off some electric cost by using the Sun to generate a small amount of electric.
There are also 8 new power plants scheduled to be built in the uk with 2 of them almost complete, this will save UK customer money in the longterm and customers are only paying a few pounds extra on their bills to fund it.
As you can see I’m very excited and enthusiastic about what I do, I’m even thinking of getting myself on youtube and helping people set up their own mining rigs for payment. I’ve been able to repurpose my pc repair skills for crypto and practically create a job for myself maintaining a mini data centre. I just think it’s so cool I can live like a sci-fi freak and generate my own currency and not answer to anybody except my mrs.