Ok - need some Node advice/help.
Got a little dedicated Nuc running ubuntu & bitcoin core. Currently syncing & about 4% ([email protected] per hr) into it. 1T SSD with 16Gb ram. Literally I have only installed Ubuntu Desktop 20.04.2 LTS & Bitcoin core.
Any suggestions? I know little about running Ubuntu & I’m channeling 20 year old linux skills which are basic at best.
Happy for all feedback - I’m happy enough syncing from scratch.
“Wittgenstein’s Money” is a beautiful piece of writing.
Imagine if all respectable business knowledge had been derived from studying large, established companies because there had never been a start-up in living memory. If a start-up then came along, people might well say, “that’s not a business because it doesn’t make a profit,” or, “that’s not a business because it doesn’t have a defined business plan.” Clearly, this would be ill-advised…
So, I found out today FUD isn’t a part of normie language.
On more positive news, I managed to get 2 close friends to finally buy some bitcoin after 6 months of hinting.
They acknowledged that they should have bought earlier. I let them know I bought some at $40k & I’m not stressed.
I said it might drop further but that it might also take off when the Americans wake up. 🤷♂️ You just can’t time this shit. The key thing is they’re off zero & they have the right expectations.
This is a really nice “getting started with Bitcoin” article. Although it’s a beginners guide I’m sure many of us will benefit from the “ideal” on boarding experience.
I know mine was less than ideal & I’ll probably go through a number of these steps to see if there are things I can improve.
Thanks to @jimmysong for highlighting it & David Venturi for pulling it together!
It’s so funny, anything paid for in sats seems crazy expensive to me.
Yeah - it’s only $50 worth now, but those 138ksats could be $500+ in 12 months. Those sats will just keep going up in value forever.
I have no issue spending $50 on a big piece of beef. Just don’t make me pay in sats!
Humans be weird.
I’ve struggled to understand how the power of compounding applies to Bitcoin since it’s a non yielding asset. There is no yield to reinvest & 1 bitcoin now will still be 1 bitcoin in 10 years.
I now see it like inflation but in reverse. You benefit from the exponential increase in value through adoption but also the compounding deflation due to fixed supply each year.
Your bitcoin doesn’t leak value via carry costs or CGT.
I’m finally beginning to get it (which seems silly to me now).
@Brisket Here's the link to the PDF: https://www.oaktreecapital.com/docs/default-source/memos/something-of-value.pdf
I’ve just spent an hour trying to find a toot that had a link to a really interesting “value investor” (something capital?) letter. The guy was a skeptic & more into fixed returns/bonds but knew the value of growth assets. He kept referring to Andrew?
I was up to the bit where he talks about Bitcoin & compounding investments over a decade. Then the family required attention, sigh.
I’ve lost the link & toot - hoping that some recognises this vague description 🙏🏼
People underestimate the stress that #Bitcoin wealth can bring & only think about the problems fiat wealth would solve.
Taking responsibility is harder than trusting authority (for most people).
Be careful not to self sabotage by trading relative uncertainty in future wealth for certainty in fiat which will slowly leak value.
I’m starting to cultivate a decent list of Bitcoinhackers to follow & my Mastodon home is feeling much more like my regular Twitter feed.
The added bonus is that the Local feed has a steady stream of Bitcoin pleb posts! The #Bitcoin feed in twitter was crammed with noise & scammers & I largely avoided it.
I was concerned that this would be an echo chamber/circle jerk but I think Trump ban was enough to reach a critical mass of quality minds defect
You don’t know who I am & I’m Ok with that 😉
Bitcoin - there can be only 1.
Bitcoin Maston Instance