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Showing 20 of 281 results by Beefcake
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Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Would you name your child after a crypto??
by
Beefcake
on 15/10/2022, 16:09:54 UTC
⭐ Merited by BitcoinBarrel (1)
I would find an alt coin that no one ever heard of, and something that you wouldn't normally name a child. Like poochain for example. Excellent name.
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Topic
Board Bitcoin Discussion
Re: What if the fee can be shared?
by
Beefcake
on 15/10/2022, 16:04:14 UTC
Do you mean the transaction fee? That could make sense, if both parties agree to split the fee. But a reasonable work around would be for the sender to send half the fee less. Right now it doesn't cost that much so we're talking about pennies, unless I misunderstood what you meant.
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Board Bitcoin Discussion
Re: BTC price drops as US inflation reaches 40-Year High
by
Beefcake
on 13/10/2022, 17:10:47 UTC
Just explain this to me please anyone. How even in a normal scenario will inflation in fiat markets effect bitcoin negatively.
When inflation rate is high, federal reserve may increase the interest rate to control money supply and decrease the inflation rate.
Given the current high inflation rate, it's expected that federal reserves increase the interest rate by 75 basis points in their next meeting. This is affecting all the markets including bitcoin.
Your explanation still doesn't make it any clearer because ordinarily one would expect that people will find a safe haven in Bitcoin or any other financial instrument like gold to hedge against inflation. I've monitored the relationship between Bitcoin/Pounds and Bitcoin/Euro, I discovered that Bitcoin follows the pounds pattern more. That's it goes up or dips whenever pound does the same. Today's movement differs. Perhaps, Bitcoin price will respond and move up like pounds is doing before the end of today.

It has to do with the expansion and contraction of the money supply. Interest rates going down increases the money supply, up has the reverse effect. At least in theory. The stock market almost always goes up when the interest rates go down, and vice versa. See: Alan Greenspan's market manipulation. This wouldn't seem like it should effect bitcoin price, but remember the markets aren't what they used to be. Before institutional investors got involved, retail investors more or less controlled the market. Now we are just a drop in the bucket. So when institutions pull out investments as interest rates rise, this includes bitcoins. This may be because they are investing on margin, or because they see better returns elsewhere where they can get a better %. It gets complicated, and I don't really understand it all, but that is how I understand it.
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Board Bitcoin Discussion
Re: Have all the 'Bull Runs' just been billionaires pumpin and dumpin?
by
Beefcake
on 12/10/2022, 17:59:41 UTC

Kardashians getting sued for shilling, don't think suits and ties are going to be exempt in future. Your money, not theirs.

I feel like that was politically motivated. Also the powers that be hate anything crypto, and look for any excuse. From what I saw she used the #ad hashtag or whatever, indicating it was a paid ad, so while fishy, it wasn't totally scammy. But rules are rules right? But why such a large fine? The banks get away with murder and if they are fined, it's usually a fraction of the amounts involved.
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Board Bitcoin Discussion
Re: Google partners with Coinbase to accept crypto payments for cloud service
by
Beefcake
on 11/10/2022, 17:11:14 UTC
I like seeing these baby steps. While the implementation itself doesn't seem to make any sense (use a third party for something that was designed specifically to not need a 3rd party), it does show that large players are increasingly taking crypto seriously. It is exiting the "magic internet money" phase, and entering the beginning phase of mass adoption.
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Board Bitcoin Discussion
Re: Colorado is accepting crypto for tax payments - 2
by
Beefcake
on 11/10/2022, 17:07:12 UTC
Bitcoin is valuable, dollars are not. I'd rather trade dollars for bitcoins, then the other way around. While it's good to see more uses for crypto, personally I would prefer to pay with dollars (inflationary by design), than bitcoins (deflationary by design). Especially in a climate of high inflation.
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Board Scam Accusations
Re: Scam or bug: flyp.me please help verify
by
Beefcake
on 07/10/2022, 19:35:06 UTC
Thanks for the help guys! And also the suggestion.
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Topic
Board Scam Accusations
Re: Scam or bug: flyp.me please help verify
by
Beefcake
on 06/10/2022, 18:40:28 UTC
That might be the problem, but it should show that amount from the beginning when you input the numbers. The way it works seems like a bait and switch, but I wasn't sure.
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Topic
Board Scam Accusations
Topic OP
Scam or bug: flyp.me please help verify
by
Beefcake
on 06/10/2022, 18:08:14 UTC
Hello, I was checking out this website, and testing with a small transaction. Basically you choose your trading pair, enter the amount, wallet addresses etc. But, you first enter the amount and get an exchange rate that seems to have a pretty reasonable fee (like under 5%). But as soon as I enter my address, it changes to an amount that is about a 25% fee, which is unreasonable any way you look at it. Am I imagining this? Can anyone else verify that the amount changes when you enter your address? If verified, this seems pretty scummy to me, but it's possible I'm missing something.
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Topic
Board Beginners & Help
Merits 1 from 1 user
Re: A lesson I learnt the hardest way ( rigorously for newbies )
by
Beefcake
on 06/10/2022, 17:14:25 UTC
⭐ Merited by PowerGlove (1)
So you're saying I should dump my wife and marry crypto? I'm down. Wish I thought of it sooner! Just waiting for that haptic feedback suit to arrive in the mail.
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Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Can we Teach About Crypto in Universities and Also Colleges?
by
Beefcake
on 06/10/2022, 16:59:01 UTC
⭐ Merited by PowerGlove (2)
I think it doesn't matter that much. Most people will end up using some form of crypto eventually, just like most of us use some form of motorized transportation. But, how many people who ride in a car or bus or whatever understands what the 4 stroke cycle is, or the difference between a 4 stroke and 2 stroke motor, or what the distributor cap does, etc. It is useful, so they use it. As things progress, solutions continue to evolve that require less technical expertise, and people get used to using it. Some day, it will be common just like credit cards, and most people will just use it. Those who want to dig further will do so, but I think most people aren't interested in how it works. All that said, I don't think it's a bad idea to offer classes. Probably see 4 year crypto bachelor's degrees sooner or later.
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Board Bitcoin Discussion
Re: When You Heard About Bitcoin For the First Time?
by
Beefcake
on 06/10/2022, 07:20:10 UTC
I don't remember exactly, but I heard about it fairly early on. I ignored it, and considered it to be a nonsense fad that would go away eventually. It didn't, and I eventually started paying more attention. My loss, same old "I wish I had been an early adopter" story. Good to keep an open mind I guess. I didn't, and I missed out on the chance of a lifetime.
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Board Beginners & Help
Re: Is Trustwallet Safe?
by
Beefcake
on 03/10/2022, 20:36:43 UTC
As Z said, electrum seems to have a very good reputation. As far as trust wallet, I don't know anything about it, but I don't like the name. Would you go to a dealership named "honest guys car dealership?" If they have to put it in the name, it probably isn't true. Maybe I'm just being silly, idk, but I don't trust them.
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Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: My Favorite Misconceptions About Bitcoin
by
Beefcake
on 03/10/2022, 20:33:37 UTC
⭐ Merited by JayJuanGee (1)
I'm happy the op is so casual about these misconceptions and finds them silly, can even name favourites. I've heard of Bitcoin being a financial pyramid (so, #2) from a relative, but it's not the kind of relative who can be convinced by any arguments, really, so I was irritated that he maintained this position.
In general, I like the misconceptions people have about fiat and banks more. Like how many assume fiat is backed up by something that gives it value, or how most think that the money they have in their bank accounts is actually theirs and is actually there.

Or, how people think they need to "build credit" when they are young, and think the way to do this is to get into credit card debt, and pay ridiculous interest rates, and get caught in a cycle of bad debt.
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Board Bitcoin Discussion
Re: Gary Gensler's SEC sues Crypto Influncers and posts on his Twitter as propaganda
by
Beefcake
on 03/10/2022, 20:26:01 UTC
I remember the video they made against meme stocks. They got no business doing this sort of thing, it's pretty f****d up that the sec is targeting specific investments. But, I think many of us don't trust the SEC anyways. Word on the street is that GG is basically a criminal, but what do I know about such things? Nothing, that's what. I'll just hold and ignore the nonsense.
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Board Bitcoin Discussion
Re: Can bitcoin be used to clean environment and reduce waste??
by
Beefcake
on 03/10/2022, 20:19:35 UTC
I always thought the anti btc argument based on energy usage was flawed. Why not go after Walmart? They use a ton of energy. Or tv sets. People don't need those, they use lots of power. Why not computers in general? Or Ford motor company, or air conditioning, etc. To single out bitcoin seems strange. Lots of stuff uses lots of power, and yet this one thing is singled out. I think it has more to do with the traditional banking system putting out negative stuff about crypto, although I don't know how I would prove such a thing. But, many media outlets are owned by just a handful of people.

Technology in general is creating more electricity demand. Look at the insane policy in California, where they want all cars to be electric? But where will this electricity come from? They already have rolling blackouts in the summer. The electricity prices, already some of the most expensive in the world, will become even worse. But that's just an example. In general tech will require more energy, so I think we need better ways of making that energy. In the usa we still use some pretty old school stuff like coal power. Time to invest in new power, rather than attacking a particular technology.
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Board Bitcoin Discussion
Re: Net Bitcoin ATMs growth drops globally for the first time ever
by
Beefcake
on 02/10/2022, 17:55:57 UTC
I think bitcoin atms have many headwinds. As already mentioned, they must charge a large markup, so will not be competitive on price. But also I am seeing more and more wallets that incorporate some sort of marketplace. Why would someone drive to an atm when they can buy right from their wallet on their phone? Maybe there are some reasons, but in general I see exchanges more used by traders and institutions, and wallets more for small time retail. This is maybe a simple way of looking at it, but I'm a simpleton anyways.
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Board Trading Discussion
Re: Do you use crypto trading robots?
by
Beefcake
on 30/09/2022, 01:34:01 UTC
I do use trading bots like Gunbot in order to trade 24/7. This is one of the most helpful things for me, because I get to take advantage of the market, 24/7 whether any type of market is happening. I could easily automate the strategies that I’m going to utilise in trading.

Have you managed to see this? Let me know and I can help you.

Wow gunbot goes from like 10$ to WTF! lol. But, I am curious. I could scrape together the wtf money needed, maybe I'll just start with the $10 version.
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Board Off-topic
Re: favourite movie
by
Beefcake
on 29/09/2022, 23:27:56 UTC
The Vast of Night
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Topic
Board Off-topic
Re: NFT technologies today
by
Beefcake
on 29/09/2022, 23:26:29 UTC
Gotta admit, I am constantly surprised at how popular nft's are. One just sold for 4.5 million. For a picture of a monkey? I don't get it, I must be getting old.