Bitcoin Q&A: HODLing and the "get free" scheme



Bitcoin as a long run store-of-value (SoV) versus an funding yielding returns. Lightning Community as a method for full node operators to earn charges. Bitcoin isn’t a get-rich-quick scheme, it’s a get-free scheme – do not get wealthy, get free.

That is a part of a chat which passed off at the ‘Bitcoins in Bali’ meetup on June 27th 2017 at the Hubud co-working area in Ubud, Bali, Indonesia:

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Andreas M. Antonopoulos is a technologist and serial entrepreneur who has turn into one in every of the most well-known and well-respected figures in bitcoin.

Comply with on Twitter: @aantonop
Web site:

He’s the writer of two books: “Mastering Bitcoin,” printed by O’Reilly Media and thought-about the greatest technical information to bitcoin; “The Web of Cash,” a e-book about why bitcoin issues.

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[NEW] MASTERING BITCOIN, 2nd Version:

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30 comments

  1. We need to clone this guy and have him speaking at every university and every tech/finance company/conference in the world. If everyone would just sit down and listen to this guy talk for a few hours we would have mass bitcoin adoption overnight.

  2. How can you say that cryptos don’t potentially suffer from same debasing as fiat currency when we are now seeing so many hard forks occurring in the crypto coins.

    That creates a whole new bag of coins directly copied from the original block chain, then who is to say what happens to the value of the original block chain or the new one? There is a risk for both block chains and surely this can create an unstable situation?

    Not only that, how are cryptos ever going to be attractive to the masses when they learn about the hard fork shenanigans, it creates a very tangible sense of unease around the potential loss of value.

  3. Come to Brisbane Australia!!

  4. "Get Free scheme" love it. That's exactly what my BTC is doing for me.

  5. Nice Explanation.. But I have a doubt..
    If Proof of Work Mechanism rely on Extrinsic Investments like Investment in Electricity which reduces the possibilities of attempts of defrauding the Blockchain.. Then since it is heavily relying on outside investments in Fiats in the Real world, How can we expect the Bitcoin to decouple from Dollar & from other Fiats & rise as an independent Currency?

    Does this problem will be solved or becomes more complicated when outside investments e.g. Investment in Electricity for mining of Bitcoin is also get sold in Bitcoins?

  6. For those born and living under dictatorships that "get free" scheme means a whole lot more than monetary gainz…

  7. The hodlers of today are the hope of the future

  8. we couldn't have a better ambassador for BTC

  9. I would love to see you on $CNBC but I don't think they are ready yet.

  10. Are you a Voluntaryist? Agorist? Ancap?

  11. Hi Andreas, I have created this small private group in telegram to discuss about blockchain, projects and ICOs. Let me know if you would like to join. Only serious discussions.

  12. I can't believe he pronounced HODL wrong. It still gotta rhyme for some of the best memes to work. Memes are actually an important marketing tool. (Kenny Rogers – "Know when to HODL,, Know when to FODL…"

  13. Dear Andreas, do you read your comments? or just upload videos and that's it?

  14. How do I get my bitcoin into "cold cold very cold offline wallet" storage? He seems to be talking about a more involved than just a cold Waller like a trezor or ledger, no?

  15. Bittrex has been disabled our accounts since 5 days ago, I can not trade or withdraw…thousands of people have this problem…please help!!!

  16. @Aantonop
    I wanted to put 20k into Bitcoin however im affraid that BTC Gold in October and the November Fork in November is going to destroy the value of Standard Bitcoin.
    What do you think?

    Thanks Aantonop

  17. If everybody hodls only… value goes directly to 0. Store of value does not work without attached utility. Eventually there will be competing currency which will have both. In fact look at Ether.

  18. I completely agree it is about becoming fiat free, not fiat rich. I still see a bit of contradiction in believing in that while believing in segwit/lightning network, but I am not near as smart as Andreas and maybe just don't see it yet? Sidechains and second layer networks seem to both add risk of centralized control.

  19. Still the most interesting guy to listen to regarding Crypto.

  20. Where did this guy come from. He has answers to everything bitcoin. If you ask me. He's Satoshi Nakamoto.

  21. Will the average person be able to run the lightening network or will it only be real serious miners?

  22. "Get free scheme" … wow, you nailed it
    , … again. Beautiful wording! Will use it from now in the many debates and discussions I have since listening to you.

  23. Yes, Lightning Network will be a way to generate little bit of passive income in Bitcoin without giving up your private keys. But there already exists another one – running JoinMarket's yield generator bot, where other people pay you little fees for allowing to use your bitcoins in CoinJoin transactions they want to make.

  24. When is your Bible coming out?

  25. As much as I would love for Bitcoin to work out as I hodl a little myself. To think that the World's Banks are just going to roll over and say "aww you got us, you win" is insane.

  26. Great awesome guy, but he seems afraid of making money, it's not a bad thing to be rich, you can be free and rich. Some are greedy, some do the exact opposite, both are unhealthy. You can't live without money. He seems to sacrifice himself, great guy though, love what he says.

  27. HODLing was good in 2016-2017 for Cryptocurrency for example I got over 30,000% on my XRP investment of only $20 when it was $0.005 but now no because you got to HODL in this Bear Market at the end of the year or longer