Karl Thorburn commented on this gab
I tell people to buy Bitcoin because it is the only liquid, fixed supply asset there is.

I don't think most grasp the historical significance of this. For the first time in human history we have a token that is *actually* scarce, not artificially scarce.

As more market participants understand this, Bitcoin's exchange rate will climb higher. It's inevitable.
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@KarlThorburn I'm semi- literate when it comes to bitcoin. I have a few questions for you. 1) what wallet do you use and what wallet do you recommend for a novice? 2) Do you mine? 3) If i recall, the mining is used as a reward for maintaining the ledger, what happens when all bitcoins have been mined?
@Stilly9 I use a Trezor hardware wallet for 99% of my bitcoins. You can order them online, just Google Trezor. It's extremely secure. The other 1% I store on my Android phone using the Mycelium app. It's good for giving/spending BTC, but slightly less secure.

2 ) No, I've never mined. Mining requires a big initial investment (around $7000 of specialized hardware), and it isn't profitable unless you have access to extremely cheap electricity. The electricity where I live is expensive. I just buy my BTC on Gemini, which is an exchange.

3) Once the block reward is nearly gone, miners will be getting close to 100% of their revenue from transaction fees. Each block can only contain approximately 2000 transactions, so block space is limited. As more people use Bitcoin, transaction fees rise, and they go to the miners. Currently transaction fees are pretty small (a few cents worth of BTC), but they go higher during periods of high traffic. Eventually the cost of a single Bitcoin transaction will be very high. But it won't be a problem because there are "second layer network" solutions to perform off-chain transactions. Banks, businesses, and wealthy individuals will continue to use the base layer blockchain directly.
@KarlThorburn fascinating, thanks for the quick response. I'm definitely going to look into Trezor. I'm trying to conceptualize the equivalent of bitcoin to Dollars in the future (just from a macro historical perspective). 100 years ago you could actually buy something for $.05. Currently it's buying power is nothing, and it will continue to lose value. 1/10000 of a bitcoin is worth nothing currently, but at some point in the future it will actually hold buying power. And to have the opportunity to buy them now, is pretty amazing.
@Stilly9 Bitcoin is currently undergoing "hypermonetization". You can think of it like the opposite of hyperinflation. It still has enormous long term upside. Read my piece on Counter Currents about it: counter-currents.com/2019/05/what-white-natio
Awesome article. I'm sold, and will be very happy if only 75% of your article occurs.
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