Early Retirement Extreme Forums

ConstitutionDAO a decentralized autonomous organization has raised $46M in ETH to purchase one of the original thirteen copies of the United States constitution being auctioned today by Sotheby's.

https://www.sothebys.com/en/digital-cat ... ted-states

white belt wrote: ↑

Mon Nov 08, 2021 8:26 am

More examples of criminals using physical violence to steal cryptocurrency: https://beincrypto.com/spanish-tortured ... n-fortune/

So, a boot on the face can hack all crypto protocols? Seems like a great place to store all one's wealth that can be stolen and forever lost with brute force. Criminals probably won't figure this out, so keep pouring money into the "Greatest store of value in human history" unless someone can find a boot and put it on your face.

You will enjoy this master list of physical attacks for bitcoin maintained by Jameson Lopp.
https://github.com/jlopp/physical-bitco ... /README.md

I don't really see you pointr. All assets can be stolen with force. Bitcoin isn't particularly easy to steal from that perspective.

No. Multisig or decoy wallet with different 2nd password based on the same seed stops these. Learning rather than letting biases avert from trying to learn cost me multiples of my net worth. May learning help you some day.

Practice setting up cold yeti protocol for one example of how to do multisig.

WFJ wrote: ↑

Sun Nov 28, 2021 4:30 pm

So, a boot on the face can hack all crypto protocols? Seems like a great place to store all one's wealth that can be stolen and forever lost with brute force. Criminals probably won't figure this out, so keep pouring money into the "Greatest store of value in human history" unless someone can find a boot and put it on your face.

Crypto assets are by design, untraceable and therefore once stolen, impossible to track. Crypto zealots can't have it both ways, it is anonymous or it's not. This is what makes it so attractive to criminals to hold, use and steal. Every protocol can easily be defeated with a boot and time. As long as criminals or governments can buy boots and find your face, all crypto protocols will be defeated and will be an attractive asset to steal.

Below is what happens when you report a crime to the tax supported police that your crypto assets or NFTs in the metaverse were stolen, which you can't prove were obtained in legal transactions or through legal labor, which also avoid taxes which is the sole source of funding for police services.

https://www.youtube.com/watch?v=v7acD4q0lp0

WFJ wrote: ↑

Wed Dec 01, 2021 2:21 pm

Crypto assets are by design, untraceable

Crypto is a form of property protected by cryptographic keys. Typically, pseudo anonymous. It is very easy to trace unless you're using privacy-focused blockchains (ie-XMR, SCRT, ZEC), which are often a pain in the behind to use, even more than other currencies.

The cryptographic keys can be secured in many ways that make the keys anti-fragile without a single point of failure.

Highly recommend reading the "Sovereign Individual" to understand the second order effects of diminishing returns to magnitude of violence now that property can be protected with cryptography rather than nukes.

I joined the dark side. Since at c.1% of investable universe cryptos are now too big to ignore, I decided to put 1% of my NW in them, starting with £400 each into BTC and ETH, and will top up monthly until 1% target allocation is reached. It could be money down the drain but it's a bet I'm willing to take as the potential upside is perhaps as much as 5-10x greater than the downside. And even if they go to zero, a 1% hit to NW will not change my life in any way.

Bankai wrote: ↑

Sun Dec 05, 2021 11:25 am

£400 each into BTC and ETH, and will top up monthly until 1% target allocation is reached

Proud of you. More a technical challenge at your point. BTC & ETH on an exchange doesn't count though, gotta control your keys or else it's not the real thing and you can't do anything fun with it.

A hardware wallet will be worth it at some point. Cold Card (BTC), Bitbox02 (BTC & ETH), or a Ledger Nano X (many coins but closed source) are your best bets. Persistent TAILS usb dedicated solely for each coin would also work but more difficult and still a bit less safe.

Similar to @Bankai, I realised I could drop a negligible part of my NW in, on the chance of a 10x+ upside. I started this in Dec last year and, well I was up 10x now dropped to 5x, but seems to be paying off.

A tip incase anyone missed it: coinbase pro has cheaper fees than coinbase

The annual Messari Crypto Thesis. Good read for those trying to gain perspective on the big picture of Web3.
PDF: https://messari.io/pdf/messari-report-c ... r-2022.pdf

Ego wrote: ↑

Thu Dec 23, 2021 12:42 pm

The annual Messari Crypto Thesis. Good read for those trying to gain perspective on the big picture of Web3.
PDF: https://messari.io/pdf/messari-report-c ... r-2022.pdf

Great read. Thank you for sharing.

Happy to see we’re moving beyond the safe stuff like btc on here.

Heads up!

https://www.marketwatch.com/story/the-i ... latestnews

Don’t remind me. My taxes this year are totally borked.

Yeah, they've had the crypto question for a few years now. Buy and hold has never been a problem. Staking rewards on the other hand. This is one of the advantages of doing things on an exchange. They send you a 1099-B.

It is only a matter of time before someone sells automated AI chain analysis software to the IRS that takes a cut of all back taxes collected. The amounts involved are too large to just let it pass. Pay now or pay + fine later.

Mining income will also be taxed soon.

Renouncing is worth it for the yankees here if you don’t live in the US.

How's that inflation hedge working out?

As usual, it depends on your starting point.

1 Mo, BTC-USD is -25%
6 Mo, +12.3%
12 Mo, +10%

How about three years? And adjust for volatility over that time.