Maybe I am late to the game with this question, but do you guys see that the potential rise in oil prices will also create a rise in BTC value since mining requires 20 barrels for 1 BTC?

I'm sure this has been asked here more than once, but I want to start getting involved and learning as much as possible about crypto - what are the best resources to start reading about it? I assume Googling it will lead to reading some shit-tier normie resources and I won't that woke alt-right crypto info

@Jeb! Nationalism - MD I am looking for the same. I want to start investing in the next few days. BTC at first, but also interested in Ethereum and all the tokens and altcoins

@Darth Right on. I had a little BTC I bought for $25 way back in the day, and I sold it for $500 earlier this year when I didn't know anything about it. I just saw an article about how much Bitcoin had raised and I was like "Hey, I bet I still have some of that!" :p

I really want to read and know as much about it as possible before I get involved in putting more money into it

I'm also looking for which sites for crypto news are the most reliable

Yeah, that is sort of where I am. However, I have researched enough to drop $500 into BTC once I find the best wallet option and exchange. Just a drop in the bucket, but will be adding to it each pay check. I am already investing 26% of my pre tax dollars into a 401k and maxxed out this year. So rolling the dice a bit on BTC makes sense. It is money I can lose without "feeling it"

@Darth >BTC value since mining requires 20 barrels for 1 BTC?

This argument comes up again and again. It's easy to calculate the amount of power needed for mining the bitcoin network, so everyone harps on it. The fact is, it is FAR less resource consumption than the fiat currency system. But because it's hard to add up all of the costs in the fiat system, no one makes the comparison. All of the brick and mortar buildings for banks, all of the employees who physically commute to work, their time, the BRINKS trucks toting around cash, the outdated exchange markets which have physical open and close times ... it all adds up to a tremendous amount, but since there's no hard number, everyone points a stupid finger at bitcoin like they know something. I bet more energy goes into the gas tanks alone of the employees commuting to the banks in just one city each day than the entire bitcoin network.

@Jeb! Nationalism - MD Did you watch the above video?

@Tanner - SC just started watching it. I misread the title when scrolling through before I posted. I thought it was a bitcoin cash video

That video was made back when bitcoin still had the vision that bitcoin cash is carrying out today. It's a good watch.

And everyone asking "what is the intro to bitcoin?" What aspect are you looking to learn? How it was created? How it works? How to buy it? How to transact with it? How to securely store it? How to estimate the market potential for it?

https://www.youtube.com/watch?v=l1si5ZWLgy0
https://youtu.be/JP9-lAYngi4
https://www.youtube.com/watch?v=E1VtZT5HEFs
https://www.youtube.com/watch?v=joITmEr4SjY

Thanks for the all the info. I think my main concern for getting started was that I wanted to learn as much about the technical aspect and how it works as possible. I don't think I would be able to get a grasp on a super autist technical level, but just to have a better understanding of it. I'll start out with the resources you posted, thanks @Tanner - SC

I feel that. I've tried to learn many times. But so many coins are complete trash at onboarding people

Now seems to be a good time to buy BTC and BCH tho

Here's a good discussion on why Ripple is junk:
https://www.reddit.com/r/btc/comments/7n1idg/ripple_user_comes_to_defend_ripple_gets_hundreds/

>But so many coins are complete trash at onboarding people
So many coins are complete trash.

Mike Enoch had a great point on a recent TDS podcast when he said that one of the reasons a lot of the junkcoins are rising in price is because there's no way for wiser investors to bet against them. Without an options market (enables shorting), there is far less ability for downward pressure on price.

@everyone hello! Totally new to crypto

I am in the middle of setting up a coin base account

And it is not accepting my bank account

oh hey Volkmom

So I thought I'd try to just link my debit card for now?

Hi!

ur on the /pg/ discord right?

You probably have to verify

But THAT is requiring me to upload my ID???

It's actually being set up for normie trading so I'm not necessarily concerned about opsec in that regard

@Deleted User indeed!

coinbase is not the best. you can use to buy coins but NEVER sell coins there.

Hmm. Ok what Wallet should I do?

@Deleted User Why not sell to them?

I need to convert SBD

your wallet should be the GUI you can download from the bitcoin site itself. never leave your coins on a website based wallet.

My main need rn is to convert sbd

@sigruna14 the reason being the IRS is now confirmed inside coinbase to see if people make over 20k from coinbase transactions.

because coinbase is a huge node dont use it for selling

@Deleted User GUI? Sorry I'm such a damn boomer. What is that?

use localbitcoins or localmonero or local[insertcoinhere]

How else are you gonna convert to USD? And does it not matter so long as you're not transferring too much?