(Serious) As a crypto-skeptic who owns some Bitcoin, what should I do with it?
from TootSweet@lemmy.world to buttcoin@awful.systems on 25 Jun 2024 23:03
https://lemmy.world/post/16930885

This post really isn’t the usual faire of this community. Sorry about that. If there’s a better place for me to put this, definitely feel free to point me there.

But, to the point of my post, before Bitcoin became a widespread cult, back when all Bitcoin was was a couple of posts on Slashdot, back when mining it was comparatively extremely easy/quick/“profitable”, I mined some Bitcoin. About 1/20 of a Bitcoin. Just by, like, leaving my computer on for a month or so. And I still have access to it.

And Bitcoin is worth can be sold for $62,000 USD per bitcoin right now which makes my little 1/20 of a Bitcoin tradeable for about $3,100 of real money.

Now I know that blockchain is just straight up a scam. But I’ve still got this Bitcoin in a wallet on a hard drive in my posession. (I know, the wallet doesn’t actually “contain” the Bitcoin. Leave me alone.)

The obvious thing to do with it would be to sell it now, but that would leave some poor chap(s) holding a $3,100 bag in a way that I wouldn’t feel great about.

I could just sit on it forever. I suppose I could sell it and donate the proceeds to some cause I thought to be worthy or anti-crypto. If there were enough crypto-skeptics had cryptocurrencies and wanted cryptocurrency to die in a fire, they(/we?) could coordinate to use our collective cryptocurrency in a way that most damages the market and hopefully hastens a crash-to-zero. (But the likelihood that there’d be enough cryptocurrency in the hands of crypto-skeptics to pull that off seems low.) Or I could print out my private keys, delete them from my hard drive, and ceremonially burn the papers while chanting “web3 is going great”.

And maybe this post is just me asking like-minded folks to give me permission to just sell it and leave someone holding a bag so I can buy myself a new OLED TV. Heh.

Whatever the case, I wanted to hear you folks’ takes.

Edit: Thanks for the input, everyone. I’m gonna sell it.

#buttcoin

threaded - newest

dgerard@awful.systems on 25 Jun 2024 23:15 next collapse

Give it to sci-hub, they have no other way to accept funds.

self@awful.systems on 26 Jun 2024 00:01 collapse

this is brilliant; I’m gonna have to keep it in mind if I hear any of the remaining crypto-encumbered folks in my life are looking to divest in a way that’ll at least do some good

owenfromcanada@lemmy.world on 26 Jun 2024 00:07 next collapse

Personally, I see no moral issue with selling. Whoever is buying is (I’m assuming) in control of their financial decisions, so if it crashes and they’re out $3k, that’s on them. So sell it and treat yo self.

For what it’s worth, Buttcoins aren’t really any different from stocks. It’s arbitrary “ownership” that has no intrinsic value (there’s nuance there, but in general the money is pretty abstracted away from anything real). I’d say it’s no morally different than trading on the stock market.

michael@westergaard.social on 26 Jun 2024 12:30 collapse

Sell it. Nobody dumb enough to pay for butts in an online Excel can be trusted with their money.