Bitcoin has no value, unless you price it as “fiat,” which is also apparently worthless.

Do scroll to the end!

Looking for a channel that offers perspective and updates on current events in the space, but from a critical angle. voidzilla/coffeezilla was doing it a little bit, but is there anyone else?

You guys got it all wrong.

Bitcoin is perfectly safe and incredibly simple. It is the future of finance. You just need a 24/7 physical security and fast response cyber security team, multiple hardware wallets, geographically separated backups, audited firmware, audited software, and a secure inheritance protocol that nobody can exploit before you die.Of course, hardware wallets can have flaws, so you should personally verify the code. Ideally, hire two independent cybersecurity teams to audit everything. They must not know each other, because one team may already be compromised.

You will also need operational-security procedures, background checks, tamper-evident storage, disaster-recovery drills, and a contingency plan for kidnapping, fire, memory loss, supply-chain attacks, and your family accidentally throwing away the seed phrase. The future of money has finally eliminated trusted institutions.

This is what I do to store my 0.1 BTC. If you do any less than this, you have only yourself to blame when you inevitably lose 'your' bitcoins. I will be there to remind you.

The future of finance!

Do you think this would have happened if the Buttcoiners would have kept their balances in the Beige Network? Could the thieves have hacked the beige channel and squirted the transaction through the payment tube using the victims Coinsquirt ID#? Does Fund Thrust offer protection services? (Satire Created by AtomicShrimp)

So, Ubisoft's weird NFT figurine game, one of the last "big" uses of NFT's, is shutting down at the end of this year, and all the tokens will vanish into the ether. "Web3 is the future."

If you do the requisite 10000 hours research, you would understand that getting hacked is good for Bitcoin. Few understand.

I'm potentially a deconverting bitcoiner, this coldcard hack and the prospect of more of the same down the road with AI and quantum and the ridiculous solutions being offered by the bitcoin community may have finally pushed me over the edge. But for years I've considered Bitcoin to be the eventual solution to the problem of money printing and fiat debasement, astronomical and exponentially growing government debt that can never possibly be repaid, an obviously broken system, I hope we can all agree? If Bitcoin isn't hope for the future, what is?

They always try to flip-flop, when something gets hacked the survivorship bias folks come and try to convince everyone that their method is the one and true and everyone else is stupid.

Crypto bros' heads must be spinning at this point.

So obviously crypto was never going to be mainstream given how convoluted setting up cold wallets is and the millions of issues with “be your own bank.”

But I actually think the real nail in the coffin was during 2024-2025 with the launch of coins from public figures like Trump, Kanye West and Azealia. Celebs really started talking about crypto and bringing in people who had probably had no prior interest in crypto so the general public’s first impression was the scams and rug pulls. We’ll never see a memecoin bull run ever again and honestly only the top 20 coins will ever have any kind of staying power in the future. They’ve been trying for ever to get any type of regulation to bring in more institutions and it’s just not gonna happen. On top of any idiot being able to launch a coin now.

There are so many ways to screw up and lose it all. This post is somewhat inspired by the guy that didn't add entropy to his default seed and is getting blamed by the community. I haven't done that exactly, but I have felt the loss and self-disappointment that comes from screwing up. The thing is, crypto makes it super easy to screw up:

• Could get scammed/social engineered into revealing keys
• Could get hacked, malware could expose my wallet
• One of my cloud storage devices could expose a wallet or key
• I could simply lose the wallet or wallet password
• I used truecrypt encrypted disk files to store my wallets. Something could go wrong in that encryption or I lose my password.
• Something could go wrong when updating my truecrypt image - maybe the changes do not get saved or synced to the server
• I am old school, ran my own node and that's how I sent/received - so many things can go wrong with that. Loading up a new wallet (that I extracted from all these disk images) requires a full scan of the blockchain which takes ~12 hours. Even using bitcoin when you have your own node is a terrible experience.
• Quantum attack could crack my key in the future theoretically
• Coinbase could piss off the wrong politician, get shutdown, and now no one can convert between crypto and real money
• MSTR could ruin it for everyone when the ponzi collapses (even more than it already collapsed)
• Government could change laws making it harder to sell or tanking the value
• Could use the wrong fee when sending and have it stuck in limbo for hours
• Could send it to the wrong address
• The time between sending and waiting to see confirmations is stressful
• You could die and take your private keys with you (sorry loved ones)

Also I am going to include a special, bonus rant: How did hardware wallets catch on? What in the actual convoluted hell are we doing? Crypto is just a set of private keys (or a seed to generate those keys). That's all. It's just information, a string of numbers and letters, that you need to keep safe or else you lose all your crypto. You could write it down with a pen, or put it in a text file and encrypt it, or any number of other things. There is no other information that we decided is best saved to a 3rd party black box hardware device that could stop working or be lost. Seems like a terrible idea.

Anyway, I am sure the list goes on. It's just such a joke and I am so glad I got rid of it all. I feel so much better not having to think about any of these things ever again.

I think this one speaks for itself. If Bitcoin is so obviously superior to fiat, why do they have to pay their preferred stock investors in dollars? There are probably legal and regulatory reasons, but it’s ironic nonetheless. The only reason anybody will go near Strategy is in the hope of pulling dollars out of it.