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0 sats \ 0 replies \ @028559d218 OP 3h \ parent \ on: What is the point of NFTs? And perhaps fees are *too low* not too high? bitcoin
I agree. Then who is buying them they have no purpose.
I could understand if people wanted to 'collect' them for their own sake... but they are speculative vehicles with zero qualities. A cartoon monkey is no different than a cartoon hotdog, or cartoon dog. They are not worth the blockspace they are printed on lol
My understanding... is that blocks were never intended to be 4mb in total. The 'extra' 3 mb was there 'in addition' for signatures/efficiency.
Now the 4 mb blocks can be consumed with... arbitrary data. Jpegs. It essentially was a blocksize increase if indirect.
What I don't understand is to whom the jpegs and memecoins can be sold. Who is buying them? Because at 30$ a piece to 'inscribe' someone is buying them otherwise they are not profitable.
I like Knots... but I don't run it as I can't imagine mempool policy alone preventing arbitrary data. The 'fee market' and fair demand for blockspace has to step in and outspend the jpeg people.
People can speculate on gambling chips, horse races, football games, slot machines...
None of those things are money, none of those things are monetary.
Nfts imo are objectively worthless... they are a scam on value and a strange scam to be associated with Bitcoin.
And in addition they are expensive to create on Bitcoin... so I can't imagine their appeal.
I agree 100%.
I believe that eventually Liquid will be used as a balancing-tool more widely...
It's a cheap way to balance channels without having to pay much in sats.
Chain swaps have their place, but are too expensive for small Lightning channels.
No maybe not. But the world's poor will face higher fees, all things being equal, with the addition of jpegs and memecoins included in transactions.
They can't be 'stopped'... but it makes the chain more expensive for those who need Bitcoin the most, too.
Well liquid or no liquid...
Employer-based 401Ks are not optional at least in my country. They are 'assigned' to all workers. And in them there is simply no way to buy 'spot' Bitcoin in self-custody. Maybe one day, but there isn't right now.
As far as 'real Bitcoin'... if I didn't own some of that I wouldn't be on SN
Because obviously you don't know (or aren't aware...)
In many countries an employer-based 401k plan is assigned to you.
It's not a choice.
The day it's possible to say 'skip it' and buy only Bitcoin is the day people do so.
But it's not currently possible.
Like everyone else given the choice I own actual sats. However that is not always an option (but everyone knows this)
Darth your guides are awesome. They are super informative.
But sometimes you lack... tact. And subtlety.
And cannot read between the lines
For your information (because obviously you don't know...)
There is no way to purchase real Bitcoin in a 401k. It's impossible.
- thanks
After the ETFs came out... I sold some shares to put into the etf to reduce 'key-man' risk.
Whether that was a good idea or not I'm not sure I guess I'll know eventually
I feel like crypto and crypto-scams get 'lumped in' with legitimate Bitcoin education and use... and that's a reason for a lot of the confusion.
Yes there are a lot of anti-Bitcoin tech people. Having said that people who have been de-banked or faced personal adversity and/or repression understand Bitcoin much faster.
As far as user data... I'm amazed that worldcoin is a thing
I went all-in last summer with my 401k to MSTR (at least as much as it would let me allocate) and it's been great.
Having said that I buy the real thing given the choice.
I have a different, non-traditional view of saylor.
If you (the collective you) listened to saylor for hours and hours during the last bear market...
The guy is a complete maximalist and he knows what Bitcoin is - better money.
But he has to be very careful about what he says.
Watch what he does not what he says. He has bought mega-amounts of Bitcoin personally, himself. And has staked his entire company's future on it too.
There is an old clip from a few years ago... where he talks about Bitcoiners having 'boating accidents' regularly but he doesn't say stuff like that any more even though he is the same person
This. The jpeg people are still paying like... 30$ to move like 1$ or less of Bitcoin on a regular basis. It makes no sense.