What about Bitcoin do people talk too much about that really doesn’t matter? What should be talked about more often?
134 sats \ 3 replies \ @nicosey 2 Jul 2023
Helps you embrace stoicism. I met many who like me are so much less into consumption and accumulation of things they don't need since they got into bitcoin.
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21 sats \ 2 replies \ @DandelionLightning 2 Jul 2023
I hear this a lot and want this to be me but it just isn’t. It’s actually gotten me thinking more about purchases in some distant future because I never make any now, focusing only on buying bitcoin vs material things, although I would like to upgrade some things.
I wonder how easy it will be to switch the mindset, or even possible from a saving to consumption mode?
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1000 sats \ 1 reply \ @Undisciplined 2 Jul 2023
Delayed gratification is still a step towards being less consumption focused. My guess is that the further out into the future you push those purchases the more you'll realize there are a lot of things you don't really need to be consuming.
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21 sats \ 0 replies \ @DandelionLightning 2 Jul 2023
Thank you.
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133 sats \ 1 reply \ @orthwyrm 1 Jul 2023
You make good threads @birdeye21.
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210 sats \ 0 replies \ @birdeye21 OP 1 Jul 2023
Thank you! Doing my best to uncover all the alpha bitcoiners have to share
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31 sats \ 0 replies \ @pillar 1 Jul 2023
I think that the behavioral changes it produces on individuals and the positive consequences of those are tremendously underrated.
I mean the typical bitcoiner transformation story. Came for the greed, stayed for the revolution. People stop smoking and drinking, start saving more money and becoming financially responsible, invest more and more in educating themselves, start taking care of the health, accept the fact that everything that's worth takes period of work, etc.
Millions of people doing these changes will eventually have a massive impact on society. And to me, these kind of things are the true wealth that Bitcoin brings. Remember, money is not wealth.
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120 sats \ 3 replies \ @CoSatoshi 1 Jul 2023
I think one of the most underrated aspect is the power of the seed phrases. I went through a period while learning about Bitcoin where I feared that maybe someone with enough brute force computing power could crack a seed phrase to a wallet.
Then a read a random blog explaining why this is virtually impossible; that there are more seed phrase combinations (even with just a 12-word seed) than there are ATOMS IN THE UNIVERSE.... let alone a 24-word seed phrase.
That's so powerful and mind-blowing, but I don't hear anyone talk about it all (maybe that's just me tho). Bitcoin wallet seeds are literally protected by the physics of the universe.
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71 sats \ 2 replies \ @birdeye21 OP 1 Jul 2023
this is the lesson that all shitcoiners need to learn.
physics enforces security, not stake.
In this Vitalik clip i talked about, he's celebrating the fact that Eth disregards reality.
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10 sats \ 1 reply \ @CoSatoshi 1 Jul 2023
Ethereum's merge to POS is a blessing in disguise for me personally. It's unlikely I would have arrived to the Bitcoin Only phase this early with out it, honestly.
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11 sats \ 0 replies \ @birdeye21 OP 1 Jul 2023
everything is good for bitcoin :)
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107 sats \ 4 replies \ @poe7645 1 Jul 2023
Most overrated is exchange rate for fiat.
Most underrated is... Only 21 million.
Verifiable. Self custody. Transportability. POW. Issuance. Immutability. Consensus. Global language and communication of value. Rules without rulers. FOSS. Empowering individuals.
I'm missing much more. But the price is definitely the most overrated IMO. At least in the short term. 1 sat is 1 sat.
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0 sats \ 0 replies \ @Merkle_Tree_hugger 2 Jul 2023
Ah, so that's what the lightning bolt does... Enjoy!
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0 sats \ 2 replies \ @birdeye21 OP 1 Jul 2023
I agree that price overrated, but I wouldn’t call the “21 million” necessarily underrated. That’s one of the very first things people learn about BTC, in my experience
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120 sats \ 1 reply \ @Undisciplined 2 Jul 2023
Underrated doesn't mean unknown. The consequences of a truly limited money supply are so numerous that you can keep pondering them long after you mostly get it. It seems like most of the articles in Bitcoin Magazine are people exploring different aspects of the 21 million limit.
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21 sats \ 0 replies \ @poe7645 3 Jul 2023
This more what I meant. And I was trying to keep it a little short because each one of those things branches into a seemingly innumerable amount of other amazing thought experiments. You can hear 21 million but still not conceptualize how it is enforced through mining and the nodes enforcing the rules. 21 million didn't really "click" for me right away because I didn't necessarily understand yet that it was, actually true.
And then if it is indeed real... What that means in application. Bitcoin itself as an idea is still is one of the most underrated things about Bitcoin. Let alone the amazing ways in which it functions.
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20 sats \ 1 reply \ @erikds 1 Jul 2023
The most overrated is the censorship resistance.
Yes, no government fully censor bitcoin globally.
But censoring their citizens is trivial. The Bitcoin P2P traffic is not encrypted so my ISP could trivially block all bitcoin traffic can and break my node.
It is really difficult to use bitcoin anonymous. Most bitcoin users rely on an electrum server which is operated by a chainalysis company. Surveillance is rampant on the bitcoin network.
It might not even be possible to buy hardware that isn't spying on you in some countries with an authoritarian government.
The amount of infrastructure you need to use bitcoin is ridiculous.
If you want to pay and avoid surveillance cash is a superior tool.
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0 sats \ 0 replies \ @fixthemoneyfixtheworld 1 Jul 2023
deleted by author
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10 sats \ 0 replies \ @2bithits 1 Jul 2023
I think us bitcoin cultists need to become more tech oriented. If we are to be the 'uncle Jim's' for our family & friends, we need to be good with all the tools available, & when to use them.
Less philosophical & theoretical stuff. More action
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0 sats \ 0 replies \ @Jon_Hodl 4 Jul 2023
I think small price pumps are overrated but they probably mean a lot more to people who stack sats in the global south.
One of the most underrated topics that should be talked about more is how bad it is to send any sats to a KYC platform. The retrospective chain analysis that is made available when you send TO a KYC platform us much worse than the data that comes from buying and withdrawing from a KYC platform.
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0 sats \ 0 replies \ @DandelionLightning 2 Jul 2023
Self custody is the most important aspect
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0 sats \ 0 replies \ @kepford 2 Jul 2023
Most underrated is Proof of Work.
Most overrated is short term excha ge price.
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0 sats \ 0 replies \ @faithandcredit 2 Jul 2023
Most underated: Its legal tender in El Salvador
Most overrated: Its legal tender in El Salvador
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0 sats \ 0 replies \ @Dash_1971 2 Jul 2023
Most people overrate the chance of bitcoin's success. I'd put it at 50/50, but most act like it's a done deal. Don't get me wrong, the alternatives to Bitcoin are even worse, and there is a 0% of making it holding cash and cash equivalents, but let's be realistic about a 14 year old free and open source software project taking on the eternal realities of predatory finance, exploration, empire, and cantillionare politics.
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0 sats \ 0 replies \ @Merkle_Tree_hugger 2 Jul 2023
That you don't have to buy a whole coin. I encountered someone recently who thought you had to buy a whole coin. He's been interested in bitcoin for awhile, but hasn't done any research into it.
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0 sats \ 0 replies \ @SaToSHiWoMaN 15 Feb outlawed
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.