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    Bitcoin Bitcoin Newcomers FAQ - Please read!

    September 07, 2021

    Bitcoin Bitcoin Newcomers FAQ - Please read!

    Bitcoin Newcomers FAQ - Please read!

    Posted: 18 Jul 2021 11:56 AM PDT

    Welcome to the /r/Bitcoin Sticky FAQ

    You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.

    It all started with the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following articles/books/videos as a good starting point for understanding how bitcoin works and a little about its long term potential:

    Some other great resources include Michael Saylor's Hope.com and "Bitcoin for Everybody"' course, Jameson Lopp's resource page, Gigi's resource page, and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.

    If you are technically or academically inclined check out developer resources and peer-reviewed research papers, course lectures from both MIT and Princeton as well as future protocol improvements and scaling resources. Some Bitcoin statistics can be found here, here and here. MicroStrategy's Bitcoin for Corporations is an excellent open source series on corporate legal and financial bitcoin integration.

    You can also see the number of times Bitcoin was declared dead by the media (LOL) and what you could have earned if you didn't listen to them! XD

    Key properties of Bitcoin

    • Limited Supply - There will only ever be 21,000,000 bitcoin created and they are issued in a predictable fashion per the inflation schedule. Once they are all issued Bitcoin will be truly deflationary. The halving countdown tells you how much time until the next drop in block rewards.
    • Open source - Bitcoin code is fully auditable. You can read and contribute to the source code yourself.
    • Accountable - The public ledger is transparent, all transactions are seen by everyone.
    • Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works. You can even run a node on a Raspberry Pi.
    • Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
    • Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoin resides has the authority to move them.
    • Low fee scaling - Most wallets calculate on chain fees automatically but you can view fee estimates and mempool activity if you want to set your fee manually. On chain fees may rise occasionally due to network demand, however instant micropayments that do not require confirmations are happening via the Lightning Network, a second layer scaling solution currently rolling out on the Bitcoin mainnet.
    • Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
    • Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
    • Pseudonymous - No need to expose personal information when purchasing with cash or transacting.
    • Secure - Blocks and transactions are cryptographically secured (using hashes and signatures) and can't be brute forced or confiscated with proper key management such as hardware wallets.
    • Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
    • Nearly instant - From a few seconds on the lightning network to a few minutes on-chain depending on need for confirmations. Transactions are irreversible by normal users after one confirmation and irreversible by anyone (including miners) after 6 confirmations.
    • Peer-to-peer - No intermediaries taking a cut, no need for trusted third parties.
    • Portable - Bitcoin are digital so they are easier to move than cash or gold. They can be transported by simply carrying a seed (a string of 12 to 24 words) on a device or by memorizing it for wallet recovery (while cool, memorizing is generally not recommended due to potential for forgetting the seed and the potential for insecure key generation by inexperienced users. Hardware wallets are the preferred method for most users for their ease of use and additional security).
    • Scalable - While the protocol is still being optimized for increased transaction capacity, blockchains do not scale very well, so most transaction volume is expected to occur on Layer 2 networks built on top of Bitcoin.
    • Divisible - Each bitcoin can be divided down to 8 decimals, which means you don't have to worry about buying an entire bitcoin.
    • Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat

    Where can I buy bitcoin?

    Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.

    You can also purchase in cash with local ATMs. Services such as CardCoins let you purchase bitcoin with prepaid gift cards. If you would like your paycheck automatically converted to bitcoin use Bitwage.

    Note: Bitcoin are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year.

    Securing your bitcoin

    With bitcoin you can "Be your own bank" and personally secure your bitcoin OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoin for you.

    • If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, then you will need to create your own wallet and keep it secure. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger or ColdCard is recommended.

    • If you cannot afford a hardware wallet there are many software wallet options to choose from depending on your use case. Mobile wallets like BlueWallet are generally more secure than desktop wallets. Beware of fake mobile wallets and check reviews from reputable Bitcoin websites. Avoid paper wallets or brain wallets.

    • If you prefer to let third party "Bitcoin banks" manage your coins, try Gemini or Unchained Capital but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk. There is a saying in the community, "Not your keys, not your coins" meaning if you don't store your coins in a wallet that you control the keys to then you do not really own your bitcoin as you have to ask permission from the third party in order to move them.

    Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!

    2FA requires a second confirmation code or a physical security key to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.

    Avoid using your cell number for 2FA. Hackers have been using a technique called "SIM swapping" to impersonate users and steal bitcoin off exchanges.

    Google Auth Authy OTP Auth andOTP
    Android Android N/A Android
    iOS iOS iOS N/A

    Physical security keys (FIDO U2F) offer stronger security than Google Auth / Authy and other TOTP-based apps, because the secret code never leaves the device and it uses bi-directional authentication so it prevents phishing. If you lose the device though, you could lose access to your account, so always use 2 or more security keys with a given account so you have backups. See Yubikey or Titan to purchase security keys.

    Both Coinbase and Gemini support physical security keys.

    Watch out for scams

    As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the r / btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. As they say in our community, "Don't trust, verify".

    • Avoid using ad-based search engines like Google or Yahoo: ads are shown based on how much the advertiser bids, and scammers can easily outbid legitimate providers for ad space, since immoral ways of earning money are far more lucrative than moral ways. Use DuckDuckGo instead, which has no ads, and never tracks you as well.
    • Ignore private messages offering services.
    • Never enter your seed words in a website of any kind. Hardware wallets will recover by displaying possible seed words on their own interface, never on a website.
    • Always check addresses on your hardware wallet before sending or receiving. Some malware has been known to replace addresses in your web browser or that you copy-and-paste.
    • Avoid clicking on links like that look like links, such as https://www.google.com/, without first hovering over it and actually checking where they go to. Just because a link is labelled with an HTTPS address does not mean it actually sends you to that address. It is trivial for someone to comment a link on Reddit that looks like it will send you to one website when it actually sends you to another, and you might not notice the difference until a scammer has gotten all your money, or you have downloaded and installed software that steals your money.

    Common Bitcoin Myths

    Often the same concerns arise about Bitcoin from newcomers. Questions such as:

    • Is Bitcoin a Ponzi scheme?
    • Will governments ban Bitcoin?
    • Will quantum computers break Bitcoin?

    All of these questions have been answered many times by a variety of people. Here are some resources where you can see if your concern has been answered:

    Where can I spend bitcoin?

    Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card or Fold card. Some other useful site are listed below.

    Store Product
    Bitrefill, Gyft Gift cards for thousands of retailers worldwide including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
    Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
    NewEgg and Dell For all your electronics needs
    Piixpay, Bitbill.eu, Bylls, Coins.ph, LivingRoomofSatoshi, Coinsfer, and more Bill payment
    Menufy and Takeaway Takeout delivered to your door
    Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
    Cryptostorm, Mullvad, and PIA VPN services
    Namecheap, Porkbun Domain name registration
    Stampnik Discounted USPS Priority, Express, First-Class mail postage

    Coinmap and AirBitz are helpful to find local businesses accepting bitcoin. A good resource for UK residents is at wheretospendbitcoins.co.uk.

    There are also lots of charities which accept bitcoin donations.

    Merchant Resources

    There are several benefits to accepting bitcoin as a payment option if you are a merchant;

    • 1-3% savings over credit cards or PayPal.
    • No chargebacks (final settlement in 10 minutes as opposed to 3+ months).
    • Accept business from a global customer base.
    • Increased privacy.
    • Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.

    If you are interested in accepting bitcoin as a payment method, there are several options available;

    Can I mine bitcoin?

    Mining bitcoin can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read the mining FAQ. Still have mining questions? The crew at /r/BitcoinMining would be happy to help you out.

    If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node. You can view the global node distribution for a visual representation of the node network.

    Earning bitcoin

    Just like any other form of money, you can also earn bitcoin by being paid to do a job.

    Site Description
    WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /r/Jobs4Bitcoins, BitforTip, Rein Project Freelancing
    Lolli Earn bitcoin when you shop online!
    OpenBazaar, Purse.io, Bitify, /r/Bitmarket Marketplaces
    /r/GirlsGoneBitcoin NSFW Adult services
    A-ads, Coinzilla.io Advertising

    You can also earn bitcoin by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoin for a small fee (requires you to already have some bitcoin).

    Bitcoin-Related Projects

    The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.

    Project Description
    Lightning Network Second layer scaling
    Liquid, Rootstock and Drivechain Sidechains
    Hivemind Prediction markets
    Tierion and Factom Records & Titles on the blockchain
    BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
    JoinMarket and Wasabi Wallet CoinJoin implementation
    Decentralized exhanges Decentralized bitcoin exchanges
    Keybase Identity & Reputation management
    Abra Global P2P money transmitter network
    Bitcore Open source Bitcoin javascript library

    Bitcoin Units

    One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:

    Unit Symbol Value Info
    bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
    millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
    bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
    satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor

    For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:

    • 0.001 BTC
    • 1 mBTC
    • 1,000 bits
    • 100k sats

    For more information check out the Bitcoin units wiki.

    Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /r/Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.

    Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.

    Welcome to the Bitcoin community and the new decentralized economy!

    submitted by /u/BitcoinFan7
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    Daily Discussion, September 07, 2021

    Posted: 06 Sep 2021 10:02 PM PDT

    Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

    If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

    Join us in the r/Bitcoin Chatroom!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    I just turned 19 and am officially a whole coiner! Still can’t believe it.

    Posted: 06 Sep 2021 09:57 AM PDT

    I know we arent supposed to say stuff like this but I needed to tell somebody. Right before covid my parents kicked me out and I lived in my car for little under 2 months. I had about $300 in my pocket at the time. Every day, I would wake up early and donate plasma before work and then work 8-12 hours at my sales job depending on how many hours of OT they gave me, I would also shower there too. Ever paycheck I got I would take what little money i needed for necessities and the rest I would put in in bitcoin. To me, bitcoin was hope, hope that I would eventually be able to be financially stable and for a brighter future. I bought in before the dip and during the dip to sub 5000. Again, sorry i know we shouldnt talk about this but i cant tell anyone and today i passed 1 whole coin.

    Edit: For those thinking I am a liar, ill post proof of my getting kicked out and of my holdings, if theres a way to safely do that lmk

    submitted by /u/Aggressive-Airport32
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    As a currency of El Salvador, BTC is now exempt from CGT in the UK.

    Posted: 06 Sep 2021 11:01 PM PDT

    S.35 of the Finance Act (2012) (https://www.legislation.gov.uk/ukpga/2012/14/section/35) amended the Taxation of Chargeable Gains Act (1992) so that gains made on withdrawals from foreign bank accounts are not liable to capital gains tax with effect from 6 April 2012. In the process, the requirement (s.252 of the TCGA (1992)) https://www.legislation.gov.uk/ukpga/1992/12/section/252 that the foreign bank account(s) must represent currency acquired by the holder for personal expenditure outside the United Kingdom, was also removed.

    submitted by /u/1UazZNfbWi
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    Do you think Bitcoin will hit the $100,000 mark by the end of 2021?

    Posted: 06 Sep 2021 10:03 AM PDT

    As the cryptocurrency market cap hovers above the $2 trillion mark, bitcoin - the world's largest and most popular cryptocurrency may touch the $100,000-mark by the end of this year with its current bull run.

    submitted by /u/Kash-io
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    El Salvador Buys additional 200 Bitcoin (400 Total) (21 Million USD)

    Posted: 06 Sep 2021 04:44 PM PDT

    Thousands of People Plan to Buy $30 Of Bitcoin To Celebrate El Salvador

    Posted: 06 Sep 2021 07:54 AM PDT

    How Bitcoin helped me, a Venezuelan (19y) at getting ahead in a failing country

    Posted: 07 Sep 2021 12:57 AM PDT

    This post isn't going to be flashy because I obviously didn't get the lambo yet.

    But I live in Caracas, Venezuela, and I'm planning on escaping this country and thanks to bitcoin I was able to pay for my mom's passport and I got to fix my car which hopefully will sell well enough to make me able to buy them plane tickets

    I can't HODL yet, but bitcoin all the way

    Edit: Omg thank you all for the tipping??I'm so moved for your kindness...I don't know the reddit etiquette to address this kind of thing (Should I answer everyone individually?) But I'm sincerely grateful for it guys ily all

    submitted by /u/Sensitive_Promise746
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    I did LSD and became a Maximalist. I'm selling all my altcoins for more Bitcoin

    Posted: 06 Sep 2021 11:57 AM PDT

    Everything is clear to me since.

    It seems obvious now that DeFi is a bubble. Everyone is trying to lure you away from Bitcoin with exceptional return rates, it feels so shady (I'm not naming any specific altcoin here, but you can all guess it).

    Proof of stake make no sense. A currency itself doesn't need to give interest. I was feeling forced to stake to get interest or else I will get punished with inflation. So everyone are locking their coins in custodial exchanges so they can stake for them. Cryptocurrencies on exchanges can't work! It can get cornered by governments and even shutdown.

    Their systems is flawed and a messy catchall. The systemic risk in the ecosystem is insane and poorly reflected in the price. There is so much things that can turn out wrong and it can burst at anytime.

    DeFi is cool sure, but altcoins are at best testnets for the Bitcoin second layer. Everything of value that altcoins offer can and will be built on top of Bitcoin. Cryptocurrencies are not tech stocks!

    Bitcoin itself just need to be secure, private and decentralized. Keep it simple! It makes much more sense that institutions and decentralized projects will use the Bitcoin infrastructure. Thus, making altcoins completely obsolete.

    submitted by /u/el_timinou
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    Love and Respect to El Salvador!

    Posted: 06 Sep 2021 11:10 PM PDT

    We wish you the best in your journey!

    submitted by /u/Fisterupper
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    A lot of people here is misunderstanding and criticizing the Bitcoin "late buying" by President Bukele. Here's why he is doing it the right way:

    Posted: 06 Sep 2021 07:41 PM PDT

    He promised $30 USD to every citizen, so they just need a fixed amount (known since the beginning) of dollars to do that regardless of the current (or past) price of BTC.

    So it doesn't matter if the price of Bitcoin is "high" or "low", he had already separated the amount required to give $30 USD to everyone.

    He is doing it the right way: Transparently and in the open, announcing publicly their purchases.

    To those saying: "He should've bought when the price was lower!".

    They are wrong: The Government's duty is not to 'invest' in Bitcoin, it's NOT appropriate for them to speculate with Bitcoin, and certainly not for the short term. They can buy and Hodl for the long term on their treasury as a hedge against inflation and that would be responsible and appropriate.

    So don't get your panties in a twist and support this financial revolution in every way you can!

    Edit: Also, giving each citizen $30 of bitcoin needed approval from the Assembly before El Salvador could buy the bitcoin. The National Assembly of El Salvador just approved giving each citizen $30 worth of bitcoin less than a week ago.

    submitted by /u/s3k2p7s9m8b5
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    How many of us bought BTC today?

    Posted: 06 Sep 2021 08:30 PM PDT

    I've been wondering if the 7k I saw on one post actually acted today on purchases of 30.00 dollars or more. I wonder if we actually could make it hop up in price a little. It would be interesting to know the actual numbers on it. I hope we help out those we intend to and not just the early adopting elite.

    I acted, on many coins, did you?

    Hope so

    Still think end of this summer will be awesome for all of us.

    submitted by /u/JesseJames3rd
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    Nayib Bukele ���� on Twitter: "El Salvador has just bought it’s first 200 coins. Our brokers will be buying a lot more as the deadline approaches"

    Posted: 06 Sep 2021 01:12 PM PDT

    El Salvador becomes the first country to adopt Bitcoin as an official currency

    Posted: 06 Sep 2021 08:01 PM PDT

    Panamanian congressman Gabriel Silva presents a "Ley de Cripto (Crypto Law)" to congress with the goal of "making Panama compatible with the digital economy, blockchain, crypto assets and the internet"

    Posted: 06 Sep 2021 07:51 PM PDT

    Welcome to Bitcoin, El Salvador.

    Posted: 07 Sep 2021 12:40 AM PDT

    Bitcoin haters are funding propaganda about El Salvador's adoption of Bitcoin

    Posted: 06 Sep 2021 10:02 PM PDT

    In the interest of portraying Bitcoin adoption as negatively as possible, a group of bitcoin haters have funded an expedition to El Salvador to report on "whats actually going on".

    This "reporting" will of course be produced to satisfy those who are paying the ticket.

    https://np.reddit.com/r/btc/comments/pjcjeq/in_el_salvador_documenting_whats_actually/

    submitted by /u/Magick93
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    Just hit 7th September in my country and bought $1250 worth of Bitcoin

    Posted: 06 Sep 2021 11:31 AM PDT

    Just wanted to support the movement for El Salvador accepting Bitcoin and celebrating the Bitcoin day by investing in Bitcoin with the money i saved last month.

    I really hope my govt. (India) eases the regulations on crypto.

    submitted by /u/Comradekitkat69
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    Unpopulair opinion: we are looking like fools

    Posted: 07 Sep 2021 02:47 AM PDT

    Gamestop and AMC did it first: people on Reddit buying meme stocks all together. They got refered to as "Reddit retards buying memestocks". Those stocks aren't being taken serious by the big players anymore. They are just a gamble stupid retail investors burn their hands to. I get the same vibe from this 30$ buy now.

    Bitcoin is no meme. We are making ourselves look like fools. Bitcoin is serious. It was designed for a very serious reason and the technicals behind it are nobel prize worthy. Bitcoin will never get the recognition it deserves when Reddit people artificially pump the price. "In solidarity with El Salvador"… yeah right. People will abuse this and the people in El Salvador will be the victims. This move hinders mass adoption and acceptance.

    submitted by /u/Stijnwe
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    In two hours, Bitcoin will be legal currency in El Salvador

    Posted: 06 Sep 2021 08:44 PM PDT

    I guess trading Bitcoin is now considered "Forex", right?

    ​

    I wonder what Satoshi is thinking. Did he really think Bitcoin would make it this far?

    submitted by /u/ShotBot
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    I'm in for $1,000 tomorrow to cover you slackers who are too cheap to buy your $30 share!

    Posted: 06 Sep 2021 10:34 AM PDT

    I do have a question though..

    1) where is the $30 worth of Bitcoin (0.00058) for each citizen coming from? Is the government really going to open a wallet for every citizen and deposit that much into each account?

    2) In other words... is this opt-in.. or opt-out, for citizens of El Salvador?

    3) Have they already purchased the coin or are we going to see a MASSIVE in-flow of buy orders tomorrow?

    4) How are they giving citizens the keys to their wallets?

    I'm just scratching my head over the logistics here...

    -----------

    Population of El Salvador: 6.45 million

    Price of one bitcoin: $51,700

    Each resident gets: 0.00058 btc

    Total number of Bitcoin needed: 3,741

    Cost of that much Bitcoin: $193 million

    submitted by /u/exmobrian
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    Friendly reminder to those buying Bitcoin to support El Salvador: Consider a donation to BTC / LN developers who made all this possible :)

    Posted: 07 Sep 2021 12:11 AM PDT

    https://bitcoindevlist.com/

    Thank you!

    I'm not a dev btw.

    submitted by /u/Freefall101
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    Reminder: El Salvador Becomes The First Country to Declare Bitcoin Legal Tender w/ Jack Mallers of Strike

    Posted: 07 Sep 2021 01:47 AM PDT

    Hi guys should I buy Bitcoin or not? Also what should I eat? What time should I brush my teeth

    Posted: 06 Sep 2021 04:33 PM PDT

    Also should I buy coffee or make my own

    submitted by /u/explore401
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    Asset manager company named “Union Investment” seeks BTC exposure for several funds in Germany

    Posted: 07 Sep 2021 01:30 AM PDT

    EL SALVADOR PRESIDENT CONFIRMS THE COUNTRY BOUGHT 200 BITCOIN

    Posted: 06 Sep 2021 03:06 PM PDT

    I’m not in this because of money tbh.

    Posted: 06 Sep 2021 12:30 PM PDT

    Like yes, it'd be nice as an "early adopter" that I could end up becoming rich off of this. But I don't think it's likely. I only have about, 6k in BTC so I doubt even if it explodes it will "set me for life"

    But I'm not holding Bitcoin because I want to be rich. At least, it's not what motivates me completely.

    The system, time and time again, fucks the little guy. We went from slaves to serfs to indentured servitude to (wage) slaves. It doesn't matter what era of history.

    The powers at be manipulate everything to send us to war to fight other poors over geopolitical / ideological dick measuring; they drink Champaign while we lose our jobs and houses. The young are growing up to inherit a world that wont be able to own a house or get ahead because of big time investors.

    Taking back centralized control of the banking system is how we win. It's how we get true democracy and fairness. If we take back control of the money system, there's no more bailouts. No more paper printing. No more manipulation.

    This is the real reason I invest. To fuck over the people who think me, and everyone I care about, are just ants to step on while they get more wealth.

    Whether it goes up or down- don't let go of this one of a kind chance to completely flip the table to even the playing field for the rest of humanity from this point on.

    submitted by /u/FiteMeHore
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