How many of you reading this are involved blindly? How many of you really even understand how exactly bitcoin works? How does the magic happen?
I understand crypto coins at a very high level but nowhere even in the same hemisphere as a developer. I mean it's hard for regular people (sorry computer nerds) to understand crypto coins right? I have learned so many different things from so many people along the way but, I got most of my information at a time when there wasn't much to even choose from. ($8.00 bitcoin days)
The one thing I stress to newbies in the crypto space is to truly understand the why and the how bitcoin works. If you understand the foundation of blockchain, satoshi white paper, proof of work mining, puzzle solving (hashing) and markets, you start to unlock and answer lots of reluctance you have in your heart to park money here.
Bitcoin is an absolute brilliant gift to human kind. Yes is has flaws that make it hard to use as everyday money (for now) but, it only has to work like "gold" in the crypto world to solidify everything else in the market. The oil market (Ethereum) is massively bigger than the gold market (bitcoin) but an ounce of gold has always been more valuable than a barrel of oil. Some other coin will become the daily currency because of better transaction property's and it might even be a Federal Reserve issued coin. It won't matter though, as long as you have a slice of the 21m bitcoins you will always be able to buy fed coin because BTC will trade against it. BTC has become the worlds reserve digital currency.
Steem is Proof of Stake mining which is different than bitcoin but still highly effective because of the platform here on Steemit. Now is the time you all must thirst for knowledge about what it going on and EXACTLY how this all works. The crumbs you catch today are the hundred dollar bills of the future as crypto coins become even more popular. Good luck in your efforts y'all, I am always looking to share new ideas with you.
If you like my posts and find them of value to new users, please upvote me and re-Steem so others can learn and help us all create a great social media community that pays the users for the quality of content they produce. Nothing is free in life, if you want to make a little coin here, put some time into the post, comment and voting.
Your Crypto OG (lol I like saying that),
The OG Broncnutz-
One of my favorite things about you is that you genuinely are interested in helping people. That's a quality you don't see in people too often.
I appreciate all the info you've given me. Hindsight is 20/20 they say, but man my financial situation would be different if I stayed course 100% rather than 50 😩
Thanks @gatorbait I guess I just hate bankers, the Rothchilds, Mark Zuckerburg and Google enough to try and help everyone get in their pockets somehow. I am a menace to the banking industry.
All those entities you named dont want us on here, earning that easy internet money. they want us to slave our whole lives over their fiat
Good content, it highlights my relative ignorance LOL!!!
At least I know more than 95%+ of the general population, but that is just enough to be DANGEROUS! I have likely lost more in cryptos than I have invested, but I am still in the black! I do hope that these steem-crumbs become $100 Bills in the future, and not through massive devaluation of the U$D! (which is coming!) :eek:
@broncnutz, you are an ASSET to STEEMIT! I learn more each and every post of yours I read, and am motivated to get a larger stake every week! ;)
Thanks for the kind words Cuz! I am motivated to increase my stake here as well. I bought another 15k usd in Steem power right before this rise. I had a feeling, and I think it's going back to .0008 soon.
Oh my goodness, I had to resteem just for the pic.
I lived in Denver in 93-94 and I never saw anything like you guys for fandom. I used to go to the grocery store on purpose when the games were on and I would be one of 3 people shopping - the others were getting something they forgot for the game and running like hell. When I would check out, the clerks would ask me what was wrong and why I was not watching.
Well - I know less about football than I do about crypto!
I am only here for one month so far and I am trying to learn steemit without focusing on the money at all. But I have plans!
I will wait until I have $100 SBD and then see if I can transfer it out. This might be hard since I am in Thailand only a Thai savings account and no us accounts and really I have no idea how to do anything with any form of money now except get some out of the atm when I need it. So this is a future headache.
I decided to do the 50/50 split now. I was doing that first, then I switched to the new default and now I am switching back. I have no idea really but two people told me to do 50/50 until I am at 60 power or so.
I will do everything I can to learn crypto after I learn how to post better posts and start recruiting friends. I feel like my time is better spent there for the moment.
I have nothing against crypto at all and I'm happy to get involved with it in this way. I have not paid one bit of attention to it up until now. I'm actually an accountant (for reals) and I hate finance. It's a weak spot in my education and interests; hence why I am broke. I have a lot of trouble being interested in money beyond keeping a roof over my head and not even then sometimes.
I'm really happy to see your posts and I know I will be back with questions as time goes on. So glad to connect today :)
Thanks for the nice reply :)
I am. Well versed in the proof of stake and proof of work topic but Bitcoin blockchain is a whole new level i am trying to understand it. The basic idea is clear but there is so more than that.
And FYI the congestion in the Bitcoin network is quite low right now yesterday I bought about 4 mining contracts via Bitcoin, it took me about 20 minutes for the transactions to get fully confirmed and the fees was just a minute 12451 satoshis @broncnutz
It's because of Segregated Witnesses aka Segwit
But it's not yet activated they have only signalled the intent for Segwit and now they have a grace period of about 3-4 days to apply Segwit to their networks and start mining Segwit blocks. Here's my post about Segwit activation you can check it out if you like
https://steemit.com/bitcoin/@arunava/signalling-of-segwit2x-on-the-bitcoin-network-2017723t6310363z
Good contributions.
I have attached a concept where you might choose to help further
Thanks in advance if you do, but no harm if you dont
STEEM On!!
Thanks for the upvote Dave. I like the work your doing. I have three medical dispensary here in Colorado for MMJ, we have successfully helped many completely off opioids. Good luck in your effort for this cause man.
Interesting post, Im starting to learn about crypto, so I always thank for this kind of posts.
Imagine if you'd mined bitcoin from the day it was released to the public and before it became impossible to mine with a normal pc. Sigh!!!
No crap! I had 1000 BTC at one time for next to nothing and didn't even mine. Hind sight is 20/20
Imagine if you mined and threw your computer away with 7500 coins on the hard drive. That's 21,000,000 today. I don't know if I'd be able to live with myself.
http://news.sky.com/story/bitcoin-blunder-man-throws-away-4m-laptop-10426389
You wouldn't be able to live with yourself......you barely can now and you didn't even loose any BTC.....u just sold too cheap. I'm glad your back in crypto now, you talk to me more. Hey u still got that guys number for weed????? Lolololol
Exactly!
I am one of the many people who do not understand steemit, because I have no friends to ask, by reading your posting meaningful very understand I read or translate English to Indonesia, what I expect all its happening on your blog post,
I will not stop here, because I have spent a lot of time in steemit, I have to follow your next article ... you are now my favorite because you are like a black cloud that can produce a clear rain water. Thank @fahrullah
Thank you!
ok me ftiend
Good read for anyone new getting into crypto. cheers
Thank you for the reminder. I have to continue working on education and not just hoping.
I am looking for a succinct, verifiable, description of the value of crypto's that I can use to help curious friends and family understand. Unfortunately, when asked, I usually find myself rattling on about a whole buttload of crap I don't fully understand, as their eyes glaze over.
that's interesting, i didn't know steem was POS mining, how exactly does that work since i don't know anything else that is POS yet?
When you turn your Steem token into Steem Power in a process called "powering up".....you are now staking coins on the network which in turn is creating the mining of new coins and the security. So that's why powering up gives you more upvote dollar power.....you get a large slice of the daily mining pool and deciding where it goes the more Steem power you hold.
Is POW Mining possible with STEEM?
I'd like to possibly do some if it is...
It's not possible
Thanks OG!!! ;)
I wasn't much of a crypto fanatic before steemit. Previously I knew about bitcoin but I was weary about investing into it. I was going to buy into ethereum when it was around $5 but I had some problems with my card so I missed out on some huge profits haha.
You win sometimes in life and it seems like with this incident I was destined to lose.
When I got into steemit I decided to get back into cryptocurrency taking some courses and researching for myself potential rising coins.
I have a decent basic understanding of everything but nothing too impressive or astounding @broncnutz
I agree 100% my friend. Great post :)
Upvoted!
nah i am not that tech person
Sir I want to thank you from the core of my heart for your support.....
Please visit my blog and upvote my post, I need your support & love.....
Thank you once again....!!!!! @supriya1993
You copy and paste same thing every post. Get rid of the big ole Steem logo
Sorry sir for everything..... I first reply on your old post https://steemit.com/broncos/@broncnutz/nfl-training-camps-open-next-week-tackle-football-is-right-around-the-corner
to thank you for your support but I saw you don't reply on them so I think that you don't show them & I post the same on your new post to show you....sorry for that, I realy don't want to hurt you.....😢