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Title: Jordan Peterson Set To Speak At The Largest Ever Gathering Of Bitcoiners
Source: [None]
URL Source: https://www.zerohedge.com/crypto/jo ... gest-ever-gathering-bitcoiners
Published: Mar 29, 2022
Author: Tyler Durden
Post Date: 2022-03-29 17:11:41 by Horse
Keywords: None
Views: 924
Comments: 12

World-renowned Canadian author and psychologist Dr. Jordan Peterson will be on stage at Bitcoin 2022 in Miami April 6-9, causing speculation that he may be planning a public endorsement of bitcoin.

Poster Comment:

Looks like a major event. Biden has been trying to contain Bitcoin. Might have a few surprises. Eventually, Bitcoin might be the best way to buy food and oil that has been sanctioned.

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Begin Trace Mode for Comment # 10.

#1. To: Horse (#0)

Eventually, Bitcoin might be the best way to buy food and oil that has been sanctioned.

If the dollar collapses, then I don't see a viable replacement currency outside of crypto. A lot of us do have gold and silver, but as much as I like the stuff, my complaint about metals is that you can't make change with it. The old cliche about how you can't by a loaf of bread with a one ounce gold coin does have merit, and after a currency collapse, the same will be true of a 1 oz silver coin, much less a silver fork, as I would point out to Catherine Austin Fitts. How can anyone give you change for payment made with a silver fork? Do they hand you back a smaller silver butter knife? Again as much as I appreciate her background and expertise..... Such silver holdings are great as a bulk investment for buying an entire valley after financial Armageddon occurs, but they won't replace the need for a post-dollar currency.

That is where crypto can save the day. It has the huge advantage of being so microscopically divisible in value that you WILL be able to buy a loaf of bread with it. Yes it does require internet services survive such a collapse but I think it reasonable it will, and hell, if there is not even internet in that environment, then we'll be down to barter.

Though Bitcoin itself, in its present form, is NOT suitable for that need because it is too damn expensive to spend. It's capable right now of handling 7 transactions per second GLOBALLY, and present costs to make a transaction are some $20 worth of BTC -- making it infeasible to buy a loaf of bread. But there are other cryptos that can which are nearly free to transact, as in fractions of a penny, and which can handle hundreds of thousands of transactions per second.

Pinguinite  posted on  2022-03-29   18:19:28 ET  Reply   Untrace   Trace   Private Reply  

Folks I know are toying with opening a wallet in a digital coin that might be handy to have one day, but no one's sure which one will serve if things get tight.

As far as hard money for small purchases, it's important to have lots of small denomination junk to spend. Hell, even a good supply of nickels is worth accumulating. The modern nickel is worth eight and a half cent at the moment, and it will never be worth less than five cents.

They say to scoop 'em up now, because the Big Boys want to replace them soon with a coin that's cheaper to mint.

randge  posted on  2022-03-29   18:42:44 ET  Reply   Untrace   Trace   Private Reply  

Folks I know are toying with opening a wallet in a digital coin that might be handy to have one day, but no one's sure which one will serve if things get tight.

Jaxx & Atomic wallet are good, but the choice can vary depending on convenience factors. There are a number of wallets out there. The wallet you choose isn't so important as is having suitable security practices, and it's even possible to transfer private keys from one brand of wallet to another to give both access to the same crypto. You really want to be aware of how to do things right to ensure your crypto is safe and secure, both from simple loss (your PC is destroyed) to hacking theft.

Crypto wallets are not wallets in the traditional sense, as they don't actually contain the crypto funds. Crypto wallets are actually keys to a virtual safe on the internet, and that is where the funds are. As long as you have your key you have access to your funds, and you can make copies of the key in various creative ways to be sure you never lose it.

With crypto, YOU are your own bank, meaning YOU need to practice security that you would ordinarily leave to your bank to do.

Pinguinite  posted on  2022-03-29   19:52:42 ET  Reply   Untrace   Trace   Private Reply  

Thanks much for the info on wallets.

What coin would you think best to load onto a wallet, to have on hand if the dollar goes south??

randge  posted on  2022-03-30   14:55:23 ET  Reply   Untrace   Trace   Private Reply  

#11. To: randge (#10)

What coin would you think best to load onto a wallet, to have on hand if the dollar goes south??

Ethereum is #2 in market cap, after Bitcoin, so it's a good contender. Bitcoin itself is, however, a good coin to hold in spite of my criticisms as it's just got name recognition, and that shouldn't be discounted as much as I would have done myself not long ago due to it's practical shortcomings, because the dollar also has name recognition and also has the major defect of having its issuing country being some $30 trillion in debt, not counting unfunded mandates.

So name recognition goes a long way. Ethereum is a work in progress and is far more advanced than the pioneer bitcoin. I've compared bitcoin to a covered wagon while other newer coins are 18-wheelers, and Ethereum counts as an 18-wheeler coin. It literally carries other alt coins, albeit lessor known, on its blockchain. That is, you could create a new crypto coin and utilize the Ethereum blockchain to support it instead of making your own. So that really lends some additional pillars of support to Ethereum as here for the long haul.

There are other coins, however, that arguably do things better than ETH does. For example, EOS has the ability to process hundreds of thousands of transactions per second, and do so instantly. That is fast enough to replace Visa and Mastercard, and could do it nearly for free. So it should be a potential candidate for serving as a real use retail currency, which not even ETH can be at this point.

But all this is software and software can be upgraded, and ETH is in that process now.

But I believe in the long term that free market crypto will be in use and as the dollar declines or crashes, we will see all major cryptos go up or skyrocket, respectively. It won't be a case of, say, Bitcoin going to the moon and all the rest staying where they are. All will go up. Not by the same magnitude, but they will generally pull each other along.

For long term holding by someone not interested in getting into crypto details or other alt coins, I would recommend a Bitcoin / Ethereum 50/50 split investment. Just make sure the purchase is big enough to cover the xfer fee of some $15-$25 worth (each) of crypto that it will cost to put into your wallet, and anticipate the same amount of crypto being charged in the future when you go to spend it. Ergo, when bitcoin doubles in dollar value, the dollar cost to xfer can also be reasonably expected to double.

Pinguinite  posted on  2022-03-30 15:15:18 ET  Reply   Untrace   Trace   Private Reply  

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