Cryptocurrency Contents Archive

Ledger Responds to Customer Fears On Wallet Safety, But Deletes “Confusing” Tweet

Cost of Living in 1970 - Most People Are Frogs Slowly Being Boiled

TIL 50 Cent made 700 Bitcoins by selling copies of his album in 2014 and only remembered it years later, after it had done a 20x.

50 Cent sold copies of his album "Animal Ambition" for a fraction of Bitcoin, and ended up making 700 Bitcoins as a result in June, 2014. Customers could get a copy for only a fraction of a single Bitcoin. He made a post on instagram, saying that he had "Forgotten" that he had made sales accepting Bitcoin. A single Bitcoin was worth around $662 at the time. 700 Bitcoins got him $460,000 in sales. With the prices of today, it's around $20M. Most of the stories of people making a lot money from Bitcoin has always been the ones where they forget and find out years later. It's the case that people who keep looking at the prices will be tempted to sell sooner or later so the possibility of making such money is very hard that way. https://www.gq.com/story/50-cent-just-made-millions-off-of-bitcoin-entirely-by-accident

I’ve started DCA’ing all I can but it seems like I am accumulating at such a slow rate and I will never acquire enough to get out of the fiat trap.

I recently started DCA’ing about $10 a week but that’s all I can do right now. I’ve cut what expenses I can and am trying to make more money. I want to accumulate more before the next bull run to protect myself from the fiat bullish!t and the collapse of the US dollar as the reserve currency but I don’t think I have time to accumulate enough. Am I destined to only accumulate a very small amount before Bitcoin becomes main stream and the reserve currency? Is there ways to get more or will my small bag be enough to protect me from what is to come. Thank you to this sub for all the great information and advice. You have helped me on this journey to be free from the control of fiat. Also yes I’m using a cold wallet since I know that will be some of the comments lol.

Is any hardware wallet truly trustless?

I listened to the recent Bankless podcast where the CSO talked about the recent Ledger updates. Essentially the argument is that any hardware wallet you must make concessions to and likely can access your private key in some way. To have it any other way, you have to build your own hardware and software. And as a separate fact, open source hardware wallets you can’t actually know if they use the code base they released openly (they could be running something with modifications of it and it would be very hard to tell). How true are all these claims? I don’t want a hardware wallet where I still have to put my trust in Ledger the company. I’d rather put my trust in Coinbase at that point.

Are governments trying to crack into Hardware wallets?

I just find it very suspicious that with the new cryptocurrency laws that the European Union passed the other day, all of a sudden we're hearing about this new firmware update for Ledger. I wonder if other companies are starting to come out with "firmware updates" for their wallets? Has anybody bothered to figure out if any other Hardware wallet companies are suddenly coming out with new firmware updates? I'm seriously disappointed in hearing about this mess with Ledger as I've been a big fan of this for many years. When it comes to cryptocurrency, I'm always suspicious of everyone. Insert meme of little girl by housefire smirking.

10 years ago Andreas Antonopoulos made a (now more famous) presentation about Bitcoin in front of an empty room when Bitcoin was below $100

So this happened at Bitcoin Foundation's San Jose Bitcoin Conference that was held from May 17 to May 19 of 2013, and his speech happened on the May 18th, so exactly 10 years ago. Here is video of his presentation https://www.youtube.com/watch?v=BT8FXQN-9-A . There is literally less than like a dozen people in the whole room and he still made a passionate and very informative speech that focused on Bitcoin and Bitcoin neutrality. Also pretty amazing how far Bitcoin came in just 10 years, back then there was few people attending Bitcoin conference and just for perspective, now there is Bitcoin 2023 Conference held in Miami which will be attended by more than 15 thousand people today.

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