Topic: Results of your attempts to inform/promote [btc]. (Yeah how did that work out?) (Read 432 times)
June 12, 2016, 11:36:34 AM
Well, actually I have tried to tell most of my friends about this alternative currency but it has not been so easy to wake up their interest to join this digital economy. All of them think that this is something interesting, but they are not willing to go beyond this affirmation.
June 11, 2016, 06:11:47 PM
I don't cheerlead. I grab their phone or computer, download a wallet, send 'em some and walk away. No bullshit and they can either do something with it or forget about it and maybe it'll be worth more if they remember to check one day.
June 11, 2016, 05:12:27 PM
In these forums, I am fairly bullish about bitcoin, and I make similar assertions in real life.
No real hard sales, but information to the extent that people are interested. Sometimes, I may bring up the topic, or drop some information about it, which could lead to a more in-depth conversation.
From $1,100 down to $600, I did not say too much. I think around $600, I told some people about it, and then around $375, I told more people (and was kind of making some guarded investment recommendations). But, yeah, we know what happened after $375, for about a year worth of prices lower than $375.. and my brother in law would bring it up, from time to time about the $10 that I sent him at about $375, being worth less and less. He wouldn't really rub it in, but he would just make some sly comments. I generally would tell him that he should consider buying, at least dollar cost averaging small amounts during the $200s.
I sent him a little text on the run from $403 to $470, to assert that there is genuinely some upwards price pressures in bitcoin, but I did not really pressure him, just reminding him so that he can ultimately chose for himself, and not blame me in the future if I had not said anything. He did not take any action, and then recently, I reminded him that his $10 from about 18 months ago is valued close to $15... which is a pretty decent return. He sent me some dumb article about the China pumping of bitcoin, and I suggested that he takes such reports with a grain of salt - and I can provide him better information sources, to the extent that he may remain interested, and I have not heard from him since.... which to me suggests that he has not taken any action and that he still considers bitcoin to be in a kind of potential bubble... his choice.. I am not going to sweat about it, and I did my part in pointing out some resources to him and offering to be available, to the extent that he might be interested.
No real hard sales, but information to the extent that people are interested. Sometimes, I may bring up the topic, or drop some information about it, which could lead to a more in-depth conversation.
From $1,100 down to $600, I did not say too much. I think around $600, I told some people about it, and then around $375, I told more people (and was kind of making some guarded investment recommendations). But, yeah, we know what happened after $375, for about a year worth of prices lower than $375.. and my brother in law would bring it up, from time to time about the $10 that I sent him at about $375, being worth less and less. He wouldn't really rub it in, but he would just make some sly comments. I generally would tell him that he should consider buying, at least dollar cost averaging small amounts during the $200s.
I sent him a little text on the run from $403 to $470, to assert that there is genuinely some upwards price pressures in bitcoin, but I did not really pressure him, just reminding him so that he can ultimately chose for himself, and not blame me in the future if I had not said anything. He did not take any action, and then recently, I reminded him that his $10 from about 18 months ago is valued close to $15... which is a pretty decent return. He sent me some dumb article about the China pumping of bitcoin, and I suggested that he takes such reports with a grain of salt - and I can provide him better information sources, to the extent that he may remain interested, and I have not heard from him since.... which to me suggests that he has not taken any action and that he still considers bitcoin to be in a kind of potential bubble... his choice.. I am not going to sweat about it, and I did my part in pointing out some resources to him and offering to be available, to the extent that he might be interested.
June 11, 2016, 02:32:16 PM
or how there are new 'Crypto 2.0s' that do a better job of pretty much everything, but which at this moment in time, are a very distant 2nd to Bitcoin in terms of liquidity and Market Cap.
No altcoin has improved on Bitcoin whatsoever. Proof of stake is not even a decentralized currency, it's a permissioned ledger.
Why proof of stake has no value:
Since Satoshi did not solve the Byzantine generals problem, this means confirmations are completely arbitrary. So why are two confirmations more useful in Bitcoin (PoW) than one? Because it's an open entropy system where over a period of time, it's either unlikely or statistically impossible for someone to maintain a monopoly on block validation when there's no upper limit to confirmations. (your confirmation will eventually transition from arbitrary/subjective, to a somewhat objective state - not the case with PoS)
Recursive systems like proof of stake tend to permanently monopolize block validation by design, with no real fault or state recovery to fix it once it goes off the rails. The act of introducing interest compounds this problem even more. This makes a proof of stake confirmation essentially worthless due to being a bounded entropy system.
On top of being worthless, proof of stake is also a permissioned ledger. The purpose of mining in Bitcoin is to create a permanent decentralized exchange peg, which thus results in a permissionless system.
Since Satoshi did not solve the Byzantine generals problem, this means confirmations are completely arbitrary. So why are two confirmations more useful in Bitcoin (PoW) than one? Because it's an open entropy system where over a period of time, it's either unlikely or statistically impossible for someone to maintain a monopoly on block validation when there's no upper limit to confirmations. (your confirmation will eventually transition from arbitrary/subjective, to a somewhat objective state - not the case with PoS)
Recursive systems like proof of stake tend to permanently monopolize block validation by design, with no real fault or state recovery to fix it once it goes off the rails. The act of introducing interest compounds this problem even more. This makes a proof of stake confirmation essentially worthless due to being a bounded entropy system.
On top of being worthless, proof of stake is also a permissioned ledger. The purpose of mining in Bitcoin is to create a permanent decentralized exchange peg, which thus results in a permissionless system.
June 11, 2016, 08:20:30 AM
Just wondering if folk have had the same experences that I have had in the promotion of BTC. If so chime in here.
I'm sure we have all been cheerleaders for BTC in the past....let it wane when BTC was 200 usd or so.....and now as BTC is
Don't cheerleader Bitcoin at all.
It is a highly volatile high risk commodity, that I happen to have gotten into trading. I give people an account of what I think it is going to do and nothing more. If anyone doesn't know me (or Bitcoin) that well, then I shall mention to them that with Bitcoin, I can buy drugs on the internet. I may also mention that I can buy or pay for other things on the internet with it as well, but doing so is generally not advantageous when compared with debit card, and/or Paypal, for numerous reasons.
I may mention to them that whilst crypto is here to stay, I very much doubt that Bitcoin is. I may describe how Bitcoin can often take hours to confirm a transaction, or how limited and complex Bitcoin is for coders to work with, or how the Bitcoin p2p network has become so power hungry, that it will soon take prices of $500 minimum per BTC, in order for it to be worth miners while keeping it all running, or how there are new 'Crypto 2.0s' that do a better job of pretty much everything, but which at this moment in time, are a very distant 2nd to Bitcoin in terms of liquidity and Market Cap.
June 11, 2016, 07:41:36 AM
Just wondering if folk have had the same experences that I have had in the promotion of BTC. If so chime in here.
I'm sure we have all been cheerleaders for BTC in the past....let it wane when BTC was 200 usd or so.....and now as BTC is
surging again...how to approach this from what you may or may not have learned in the past...(2013 bit time cheerleader that I was as an example)
Anyway how it kinda is going now
Usually goes like this. (I was quite the BTC cheerleader when it was a 1100 plus in 2013)
Guy I told in the past comes up at an event (this happens about 3x a year)
Well I see BTC is down to 450 usd...so you lost your ass with BTC too bad.
I go NOPE.
He goes what is the BTC price?
I go (at the time) $450 usd.
He goes well there ya go you lost money.
I go NOPE. I MINE LTC to BTC so I MADE money. I'm holding all the coin I have into BTC eventually.
So he goes how much BTC do you have?
I go 100 (really 106 BTC if I converted all crypto to such)
Silence..for a LONG time.....
wanders off ....sometimes they ask about my equipment investment (24k) since 2013 (with all electric I ate since then on ASIC machines btc and ltc versions)
that sometimes give them a glimmer of hope into the future that I will fall on my ass.
my assumption is if BTC does go to say 2k a BTC ..there will be a lot of people trying to kick my ass ...for not twisting their arm into getting some.....(really)
Anyway...don't cheerleader much since 2013 for the above reasons....at least till it gets above 1000 usd......as you can see by the confusion I have sowed in my
2013 cheerleader efforts (ie buy a KNC 550 Jupiter for $7,131.80 on Oct 18th 2013 turn it on ....$150 BTC price 3.5 weeks later or so I think it was ROI...see 1100 usd
BTC a bit after Thanksgiving (still Nov 2013 I think?)...yeah.....I TOLD EVERYONE ..then much glee on everyone's part ehen it went down below 200 per BTC the following year.
Thus have retired from cheerleading for BTC unless someone shows a legit interest.
(must now prepare the panic room for the ass kicking attempts if it hits 20k per BTC and yes that would likely include Mom)
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