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Author Topic: How I quit working and retired at 33  (Read 2168 times)

Offline shaun614

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Re: How I quit working and retired at 33
« Reply #15 on: June 08, 2017, 10:47:39 AM »
Bitcoin



F*** Work, F*** the government, Crypto-Currency is awesome, it will take over the world, and it will rain in the unchecked spending of national governments.


I'm back for the summer, probably see some of you guys at BABL this weekend, after Nationals in August I'm going to Ecuador on a one way ticket so I can work my way through some cheap 3rd world countries while the bulk of my wealth continues to multiply. 

I hold Bitcoin, Ethereum, and 15-20 or so other cryptos in a portfolio I created. No one apart from my self knows how much I own, or where it is stored, no corporation or government can freeze my funds let alone associate them with my personal identity. This shit is the future ,its awesome and if you're curious about where to get started or have a question just ask and I'm happy to share what I can. Anyway its been a while since I've posted any updates about what I've been up to and I thought I'd come by and share. Safe Diving everyone and I hope to see some of you on the coast soon.
How did you gain so much cryprocurrency?

Sent from my SM-G955U using Tapatalk

I bought it all on Coinbase a year or two ago and immediately moved it off the exchange and have since laundered it with other bitcoins to re-establish the anonymity of my funds, at this point you can speculate on ICOs (Iintial Coin Offerings, similar to a public stock offering except completely unregulated, international, and pseudo-anonymous) or you can trade your bitcoin for a variety of other crypto based technologies with their own objectives and community support. Over the last year alternate blockchain technologies have outperformed bitcoin which has substantially outperformed the dollar.  Of course this could change at any time, not all ICOs do well, many are scams/fraud or maybe you simply lost a cryptographic key when securing your funds and you will never have access again. You do incur the risks of managing/securing your own money and other digital assets, and you need to do your own due diligence before making any investments. If you do it correctly it is VERY profitable and you can exponentially multiply your wealth in very short time periods, if your luck is not so good you can lose everything just as quick. Remember to mix/launder your funds from time to time so everything stays anonymous and no one but you will know what you have at any give time. I believe firmly we are in a decades long bull market for this nascent genre of technology since it has potential to reduce transaction costs and to provide financial inclusion to those with nothing more than mobile access. All while restoring financial privacy and countering fraud.
Good job man! It's always nice to hear successful stories like that. I was thinking of building a mining rig but never really pulled the trigger on it. Maybe it's time that I consider building one or doing some more research.

Sent from my SM-G955U using Tapatalk

"Wherever you go, there you are."

Offline IceColdChuck

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Re: How I quit working and retired at 33
« Reply #16 on: June 08, 2017, 01:45:11 PM »
Glad it's working for you.  Like all other bold claims of financial success there should be a disclaimer that these results are not typical.

Seriously though if it is so anonymous how the hell do you access your money from an ATM yet alone a 3rd world country.

you can access your money from your cell phone or from a desktop computer through applications that provide you with a public address through which to receive bitcoin and a private key that allows you to verify the authenticity of your transactions without disclosing that private key to the internet. Applications guard these private keys for you and the applications themselves can be restored using cryptographic keys made from 12-24 word passphrases. If your phone is lost or stolen you simply re-install the app and choose restore then enter a 12 word phrase that uses a bunch of magic math that I dont understand to find and provide access to all the associated wallets with your cryptographic key. Mycelium Bitcoin Wallet is the application I use for storage of wallets that would be comporable to a checkings account or the cash you would carry around with you, Ledger Nano S is a hardware wallet that maintains your private keys on a usb stick like device that is only capable of signing transactions with your private key, its not a usb storage device it doesn't run complex software and pretty much it can't be hacked. You freely share your public key with those who you wish to receive bitcoin from and then you use your private keys to sign transactions when you wish to send money.

Bitcoin ATMs and your bank account are KYC (Know Your Customer) and AML (Anti-Money Laundering) compliant choke points where your financial privacy can be violated and stored for potential fraud and other abuses. However there are plenty of people who sell and buy bitcoin for cash either in person or over the internet because of the privacy it gives them in their USD purchases and of course if you buy bitcoin for cash there is no record of you owning it, so your free to return to the cash market with any potential earnings after paying the taxes you deem appropriate.

Bitcoin makes it possible to put millions of dollars worth of wealth into a 12-24 word passphrase that can be remembered while you walk across any border in the world.
« Last Edit: June 08, 2017, 01:55:54 PM by IceColdChuck »
-Charlie
www.CharlesLaKamp.com and...


www.redtrianglespearfishing.com

"Survival is the ability to swim in strange water"
-Bene Gesserit Proverb

Offline DG

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Re: How I quit working and retired at 33
« Reply #17 on: June 08, 2017, 03:32:22 PM »
you can access your money from your cell phone or from a desktop computer through applications that provide you with a public address through which to receive bitcoin and a private key that allows you to verify the authenticity of your transactions without disclosing that private key to the internet. Applications guard these private keys for you and the applications themselves can be restored using cryptographic keys made from 12-24 word passphrases. If your phone is lost or stolen you simply re-install the app and choose restore then enter a 12 word phrase that uses a bunch of magic math that I dont understand to find and provide access to all the associated wallets with your cryptographic key. Mycelium Bitcoin Wallet is the application I use for storage of wallets that would be comporable to a checkings account or the cash you would carry around with you, Ledger Nano S is a hardware wallet that maintains your private keys on a usb stick like device that is only capable of signing transactions with your private key, its not a usb storage device it doesn't run complex software and pretty much it can't be hacked. You freely share your public key with those who you wish to receive bitcoin from and then you use your private keys to sign transactions when you wish to send money.

Bitcoin ATMs and your bank account are KYC (Know Your Customer) and AML (Anti-Money Laundering) compliant choke points where your financial privacy can be violated and stored for potential fraud and other abuses. However there are plenty of people who sell and buy bitcoin for cash either in person or over the internet because of the privacy it gives them in their USD purchases and of course if you buy bitcoin for cash there is no record of you owning it, so your free to return to the cash market with any potential earnings after paying the taxes you deem appropriate.

Bitcoin makes it possible to put millions of dollars worth of wealth into a 12-24 word passphrase that can be remembered while you walk across any border in the world.
They sure have been adding a lot of features and security to make it all work.  You feeling good about it is all that matters no matter where you invest or store your money. 

I guarantee the gov has ways to track some of the transactions.  Not saying they will give up their secrets and gov owned servers for you but if they are tracking ISIS money laundering then they can see the average persons data.  If it's connected to the internet someone has access to the data.  Hackers could wipe it all out if they wanted to and because there are no records of ownership you are screwed.  If you don't share the info with family and you die it is also gone.  But in the mean time I am sure hackers are working on ways to capture the unencrypted data from phones via wifi or Bluetooth so they can capture the recovery pass phrases and steal someones accounts. That's why banks keep adding more security because they keep getting compromised.  Fingerprints along with picture or security questions are just the latest increases in security. 

When Apple refused to hack the iPhone of the San Bernarndino terrorists the gov paid hackers to do it and it got done. 




Offline IceColdChuck

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Re: How I quit working and retired at 33
« Reply #18 on: June 09, 2017, 11:56:22 AM »
you can access your money from your cell phone or from a desktop computer through applications that provide you with a public address through which to receive bitcoin and a private key that allows you to verify the authenticity of your transactions without disclosing that private key to the internet. Applications guard these private keys for you and the applications themselves can be restored using cryptographic keys made from 12-24 word passphrases. If your phone is lost or stolen you simply re-install the app and choose restore then enter a 12 word phrase that uses a bunch of magic math that I dont understand to find and provide access to all the associated wallets with your cryptographic key. Mycelium Bitcoin Wallet is the application I use for storage of wallets that would be comporable to a checkings account or the cash you would carry around with you, Ledger Nano S is a hardware wallet that maintains your private keys on a usb stick like device that is only capable of signing transactions with your private key, its not a usb storage device it doesn't run complex software and pretty much it can't be hacked. You freely share your public key with those who you wish to receive bitcoin from and then you use your private keys to sign transactions when you wish to send money.

Bitcoin ATMs and your bank account are KYC (Know Your Customer) and AML (Anti-Money Laundering) compliant choke points where your financial privacy can be violated and stored for potential fraud and other abuses. However there are plenty of people who sell and buy bitcoin for cash either in person or over the internet because of the privacy it gives them in their USD purchases and of course if you buy bitcoin for cash there is no record of you owning it, so your free to return to the cash market with any potential earnings after paying the taxes you deem appropriate.

Bitcoin makes it possible to put millions of dollars worth of wealth into a 12-24 word passphrase that can be remembered while you walk across any border in the world.
They sure have been adding a lot of features and security to make it all work.  You feeling good about it is all that matters no matter where you invest or store your money. 

I guarantee the gov has ways to track some of the transactions.  Not saying they will give up their secrets and gov owned servers for you but if they are tracking ISIS money laundering then they can see the average persons data.  If it's connected to the internet someone has access to the data.  Hackers could wipe it all out if they wanted to and because there are no records of ownership you are screwed.  If you don't share the info with family and you die it is also gone.  But in the mean time I am sure hackers are working on ways to capture the unencrypted data from phones via wifi or Bluetooth so they can capture the recovery pass phrases and steal someones accounts. That's why banks keep adding more security because they keep getting compromised.  Fingerprints along with picture or security questions are just the latest increases in security. 

When Apple refused to hack the iPhone of the San Bernarndino terrorists the gov paid hackers to do it and it got done.

There's a potential $40 billion dollar reward to any hacker or malicious actor who proves capable of defrauding the bitcoin network, so far no one has collected it. The network is secured through military strength cryptography, could it one day be broken by quantum computers, maybe who knows they cryptography the network uses can be upgraded, but right now the bitcoin network, which is a public open source voluntary network, has 500x the computing power of the world's greatest supercomputers combined and its relative strength is only increasing. Might as well secure your wealth with state of the art technology rather than trust in a failing system centrally controlled for the benefit of banksters and politicians. Banks are fighting a losing info security battle because they by design store your sensitive personal information behind centrally controlled servers and then share it when you transact, with cryptography no personal data is stored and yet account ownership can still be verified. Its a superior system and its the very reason the hackers your worried about all want to be paid in bitcoin, they trust it. In a couple of decades banks will go the way of blockbuster video rental and our children will give us funny looks when we tell them we use to let other people hold our money for us.

Yes if I die and I tell no one how to access my bitcoin, the access to those bitcoin dies with me.
-Charlie
www.CharlesLaKamp.com and...


www.redtrianglespearfishing.com

"Survival is the ability to swim in strange water"
-Bene Gesserit Proverb

Offline DG

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How I quit working and retired at 33
« Reply #19 on: June 09, 2017, 12:44:52 PM »
You did your research which is great before investing in anything.  It's the ones who don't really get it that will be compromised.  And not from the great cryptography, hash values and passphrases but with a simple phone cloning, phone theft or IMEI cloning.  Some people still use "password" or "1234" as their passwords and others write them down on post it notes or in the notepad on their phones. 

Yes these all happen to regular banks and no I don't trust them at all either. 

I seriously thought about buying 1/10 ounce gold coins, booze and bullets because if we really have a crash those will have the most value.  Probably freeze dried food and coffee also.

So far I just have the bullets because I keep drinking the booze. 

Offline jjjjeremy

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Re: How I quit working and retired at 33
« Reply #20 on: December 06, 2017, 05:24:37 PM »
Hey Charlie, remember my 40lb bag of lead you pulled off the sea floor?  IIRC it was worth .5 btc at the time...

Hope you're doing well :)

Offline Dale L

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Re: How I quit working and retired at 33
« Reply #21 on: December 08, 2017, 04:28:08 PM »
our children will give us funny looks when we tell them we use to let other people hold our money for us.

I read this thread with allot of interest, and being an old guy with some knowledge have discussed with friends the fact that except for what's in my wallet, all my money really only exists in digital form, which means to me that in the physical world somewhere it's a bunch of 1s and 0s on a physical drive or a physical chip.

So isn't the bitcoin system the same, not addressing security, just the physical world aspect, and if what I think is true then even bitcoin or any other cryptocurrency is still held by others?

Just trying to gain some understanding of why it's so different,
« Last Edit: December 08, 2017, 04:29:45 PM by Dale L »

Offline jjjjeremy

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How I quit working and retired at 33
« Reply #22 on: December 08, 2017, 05:02:02 PM »
our children will give us funny looks when we tell them we use to let other people hold our money for us.

I read this thread with allot of interest, and being an old guy with some knowledge have discussed with friends the fact that except for what's in my wallet, all my money really only exists in digital form, which means to me that in the physical world somewhere it's a bunch of 1s and 0s on a physical drive or a physical chip.

So isn't the bitcoin system the same, not addressing security, just the physical world aspect, and if what I think is true then even bitcoin or any other cryptocurrency still held by others?

Just trying to gain some understanding of why it's so different,

Yep, modern banking is all 0s and 1s and double-entry bookkeeping.  When you "send" $10 between bank accounts, Bank 1 subtracts $10 from the account balance, and Bank 2 adds $10 to the bank account.  The banks are in control of the ledger of transactions, and you trust them to do the math correctly and keep accurate records because the government insures and licenses them. 

Cryptocurrency technology is just taking that ledger of transactions and constantly copying and updating it to a public record that's on millions of computers around the world, making it functionally impossible to falsify.  The system is designed to operate without oversight, and is doing that quite well.  Currency is slowly added to the system as payment for computer processing services. 

For Bitcoin, the "services" are verifying the correct username/password combination of the sender through a bunch of mathematical backflips.  That process is called "mining" given the similarities to precious resource mining.  The total amount of currency is a limited resource and the effort necessary to decrypt the username/password combination increases the closer we get to maxing out the available currency, just like the limited amount of gold in the earth, and difficulty of finding the very last nugget.

So, the functional difference is that banks are the keepers of the ledger in the classic system, and the public is the keeper of the ledger in the cryptocurrency system.
« Last Edit: December 08, 2017, 05:04:40 PM by jjjjeremy »

Offline Dale L

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Re: How I quit working and retired at 33
« Reply #23 on: December 08, 2017, 06:03:55 PM »
Thanks for taking the time to put a response together,

 

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