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Most of that seven years I was focused on other things tbh.. It was when things were ripping in 2020 that I really started to pay attention to Bitcoin and “crypto” again. Started panic buying things like GBTC.. :-/ ..and similar instruments with ethereum as the underlying asset.

Yes, Saif pulls no punches!! One of the things I love about him..

Yes, I did well on ethereum.. I attribute that to luck, not skill. Yes, I was able to un-stake thru some kind of wrapped ether instrument.. I would not be able to describe how I did this.. It was a little nerve-racking at the time.. And I’m sure I paid exorbitant fees..

M@rk St3phen 2y ago

I think another factor in my orange pilling was just the sheer number of “alt” coins out there.. Hence the second line in my OP (which by the way I did not come up with).. At some point I was like “wait, I could just create my own coin: MarkCoin (or whatever)”..

A friend was getting into some coins I’d never heard of. I kept telling him “Just buy Bitcoin and ethereum, 50/50.” But he felt he’d “missed the boat” on those..

Now, of-course, I tell people “Just buy Bitcoin; dca on a Bitcoin-only app (like Cash app).”

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Discussion

Toshi 2y ago

Did you go down the privacy (no kyc and coinjoin) rabbit hole yet?

M@rk St3phen 2y ago

Mm I got into a little bit of a back and forth with a Monero proponent on Twitter.. Where I landed is that there may be a use case for something like that on a transactional basis.. i.e. exchanging some bitcoin for enough Monero to purchase something the government does not want you to have.. But not as a store of value. What are your thoughts?

Toshi 2y ago

In general, because bitcoin is an open ledger where all transactions are recorded forever, it is a honeypot for surveillance.

On a personal level, it's crucial that no one knows how much BTC you have, especially no database (like exchanges) that could be hacked. You could become a target if your name is attached to your stack.

The more people use coinjoins, the better the privacy for everyone.

So imo everyone should use coinjoin solutions like Whirlpool or Wasabi. And if possible, everybody should buy no kyc.

M@rk St3phen 2y ago

Okay, will look into those.. 👍🏻🙏

Toshi 2y ago

Check out Sparrow Wallet for Desktop. It has Whirlpool implemented and is a very nice wallet. BTC Sessions has plenty of videos on how to use it. Also this guy. Love his videos. No blabla straight to the point.

https://youtube.com/watch?v=p24SxLI1ews&feature=sharec