$ Crypto questions from a crypto noob - Please explain crypto bros.

[Man at Arms]

Alright, nobody's that dumb. Whose gimmick sock is this?

Went and looked it up. Lmfao it's straight up a scam.

Anyone who thinks the big guy isn't getting a chunk of the top is braindead

 

[Serin Spaghetti]

You claim there's no person in charge. Of course there is, Elon musk owns Bitcoin from what I understand.

The Miners on Bitcoin and the Help of the Bitcoin Devs own Bitcoin. However if you own enough of anything you could technically be its owner. Not sure if you're just joshin but Elon owning it, is further from the truth (Unless he mined it super early?)

Aye, you are right someone must own it, because THEY created it. So, therefor they would have owned most of the supply from the start. SATOSHI, could STILL move things in his wallet if he was still ALIVE. However, most are in agreement SATOSHI, is MIA. It has been several years since his last appearance, he hasn't moved anything or pitched any Bitcoin Improvement Proposals (BIPs). You would think if he was alive he would at least given an update to that ancient piece of junk. Which is why Bitcoin is "The Safest", because the man at the helm is dead. And a majority of his supply isn't moving anytime soon.

Digital assets have no value to anyone other than the person who has them

This is true, but that to, can be applied to The Dollar. You put that dollar into the ATM it becomes "Digital". Most wars started because of Finance. Someone being a sly dog and not being honest with their receipts using their newfound financial power to corrupt them (Kinda like the US gov. or any gov.). Crypto however is out in the open, all receipts are and will be shown (Sudo-anonymously). This is why the "Blockchain" IS important. The blockchain shows any and all receipts, anyone who tries to alter its code, will be cut off. This IS what, gives it, its "Value". Miners/Validators get paid in their respective crypto to hold up that honesty, so no foul play and corruption takes place (Unless it's a buggy piece of shit). It simply incentivizes honesty. Where AI might come in handy in the future or not, as it just needs to uphold the rules, nothing AI needs to be involved with I don't think. But as much as I use to like money, we're better off trading cattle and chickens in my opinion. Once you see past the veil that is money, you can't unsee it.

NFTs if I were to give them a function, I would make them Tickets to a live concert or somethin.

Why don't we just use something that's scarce already instead of creating a faux system that can be manipulated by the person in charge.

That's asking a lot especially when humans tend to lie. Even if it is a scarce physical object, it won't fill my human desire to eat or survive. And labs can simply replicate something by applying enough pressure onto some rock or ashes from a human. Things can be manipulated always. And ya can't eat rocks. But we can make some nifty life improvement stuff with em.
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Ehem... but that might take years. And I just wanna trade my funny money for now. Crypto is just a "LVL UP" above our current system. The next "LVL UP" is waking up to it. Don't mean to get philosophical, I just want people to learn.

 

[Involuntary Celebrity]

Just gonna reply for casual readers at this point, the gimmick is boring.

The Miners on Bitcoin and the Help of the Bitcoin Devs own Bitcoin. However if you own enough of anything you could technically be its owner. Not sure if you're just joshin but Elon owning it, is further from the truth (Unless he mined it super early?)

Aye, you are right someone must own it, because THEY created it.

Developers or the proposer of a system like Satoshi almost never "own" cryptocurrencies, by design. And that's central to the philosophy that led to people adopting them in the first place. Otherwise it'd just be like asking people to invest resources in an open source Paypal that you alone control; why would anyone do that when they can invest nothing to get fucked by existing platforms?

Generally you'd need to be operating 51% of a network to control it (that means possessing more than 50% of the overall total worldwide processing power devoted to mining in the case of Bitcoin, and most other networks do something similar, with that being how valid successor blocks are agreed to). As long as nobody has a majority of the network, nobody really owns it. And there's no real incentive to do that because the basis of the consensus mechanism would collapse and the value of the thing you're trying to control with it. (Smaller-scale collusion-based exploits do exist, but it's not really worth getting into because they vary by technology and tend to be short-lived, which is basically half the reason cryptocurrencies have a "confirmation time" on transactions.)

Stuff like Bitcoin improvements aren't chosen by any central authority/developer; they rely on a majority of the network adopting them, which only (and rarely) happens when it comes to significant changes because Bitcoin in particular has problems with transaction throughput/scaling.

 

[Serin Spaghetti]

Developers or the proposer of a system like Satoshi almost never "own" cryptocurrencies, by design.

I agree with the majority of what you said. But for regular folk, they always ask, "who owns it?" And the finger always goes back to, The Devs. Because they are, The Source. Much like Vatalik and The Ethereum Foundation who own a lot of ETH they don't exactly "OWN" it, since the system belongs to the people, ultimately the ones who regulate transactions are The Validators/Miners. To which all (maybe not all but it goes through some validation) Validators (991,000 ETH Validators) must agree apon changes to a rule, so even the people, who made it, don't push their boundaries. Which is why we even have Crypto in the first place, is to uphold honesty, and when you have millions of Validators, it's kinda hard to change that rule. Making it pretty much immutable (Less susceptible to changes).

why would anyone do that when they can invest nothing to get fucked by existing platforms?

I mean... thats funny, since we are and have been getting fucked by our current existing system.
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Edit: Not just Gov. can abuse money, so can Criminal Enterprises. But, if you know you know I guess idk.

 

[Serin Spaghetti]

Adding on to my points I should warn you guys since, this is a crypto noob thread. As regular finance markets can be manipulated, so too can Crypto markets. A lot of early adopters can fuck a lot of you over (Which is why a lot of people don't like crypto in the first place). We call this Liquidity Bonding Games. A group of individuals can create a "Influencer" group to create a core meme coin and essentially with enough liquidity on their end can pump their own future meme coin projects. However, much like our own markets there will be insiders within this "Influencer" group who have a 5 minute advantage, ahead of you technically stealing most of the supply. Causing a instant pump and dump, or a slow and painful dump over time. This further pumps their core meme coin, and can shift blame to that specific meme coin. Making the core meme coin pump even more (Making them look innocent). I'm not sure if their is tech where it can read what wallet isn't part of that specific group, which is why some people say as a joke,"I got in at the top, and then it dumps, how typical." It isn't a coincidence they just blatantly stole from you, these people think you're stupid. So not only are you getting fucked in Real Life, your also getting fucked with in Crypto.

You guys have it hard because you're new too this fucking disgusting mess, because with so many crypto out there the message is blurred, and there isn't a lot of trustful people in this space. They too have that Inner Banker Mentality. It's hard to find a trustful community anymore. A sea of scams, fractions of a second. This is why I say do not trade in crypto you will be fucked. See through the lies, see through the bullshit. They've been doing this type of shit since BTC and ETH. I don't think I've seen a thread talking more about this. When I mean 98% scams and 2% legit I actually mean it.

IF someone has a vision to do more and doesn't care about the money, chances are He is probably legit. IF they have the same ideals and as the sentence in bold and he seems like a poser, chances are that fuck isn't legit. The crypto game now is, do you trust the man behind the screen?

Edit:I should also add, you have a BOT disadvantage aswell. Stick with the CORE coins and hold. For the love of god do not trade, unless you know someone on the low. I'm tired of all the smug friendly faces and constant fucking AI meme garbage. Look for something organic, and someone who tells you the truth.

 

[Alex Hogendorp]

I've seen crypto ATM's at gas stations and malls but I don't know how to use them.

 

[Depressed_Oni]

I was looking around in this forum, couldn't find anything on a thread for people's thoughts on specific cryptocurrencies, and was curious what people's opinion is on XRP. I know that central banks/banking is a monolith of the devil, but I keep seeing brain rot influencers pushing this coin on X, Youtube and the like as was curious on people's thoughts on it.

 

[Begemot]

I've seen crypto ATM's at gas stations and malls but I don't know how to use them.

Typically you'll use a QR code, don't know what your jurisdiction needs for ID ut it'll onboard you and typically you can buy an entry level crypto like bitcoin or maybe litecoin. Does it say what brand of atm it is? There will be guides online for them, specifically.