Who's Holding BTC?

[JMI]

Three things Bitcoin has going for it that no fiat currency does:
1. Limited supply - technologically limited
2. Decentralised - no single/central entity controls it or authorises/verifies transactions
3. Underpinned by complex maths, cryptography - nothing short of quantum computing can tamper with it

You must be kidding, these aren't positive things going for it just weaknesses.

All the things you've listed can be changed, hacked or reversed. You might want to believe that right now that could never happen, but as we know anything that is computational produced/coded by human can be changed - there is always a way and people will find a way. You might like that fact its Decentralised with no accountability but many do not trust or want such a system. I'm definitely not supporting fiat currency either btw.

 

[ian]

Well, at least the traditional banking system has all those negatives too, in additional to being corruptible by government and humans too.

 

[twostepsbehind]

You must be kidding, these aren't positive things going for it just weaknesses.

All the things you've listed can be changed, hacked or reversed. You might want to believe that right now that could never happen, but as we know anything that is computational produced/coded by human can be changed - there is always a way and people will find a way. You might like that fact its Decentralised with no accountability but many do not trust or want such a system. I'm definitely not supporting fiat currency either btw.

Sorry, and I mean this in a polite way, but you have no understanding cryptocurrencies and blockchain.

They’re underpinned by mathematics, you can’t hack maths.

Powerful miners could group together to do something dodgy, potentially, but it’s very unlikely

Please read a bit more...

 

[JMI]

Sorry, and I mean this in a polite way, but you have no understanding cryptocurrencies and blockchain.

They’re underpinned by mathematics, you can’t hack maths.

Powerful miners could group together to do something dodgy, potentially, but it’s very unlikely

Please read a bit more...

Sorry I mean this in a polite way.. it's a well know fact cryptos come under attack from hackers gaining control of networks to rewrite transaction histories making it possible to spend the crypto more than once (already happened to Etherium), we won't even go into grannies crypto wallet issues. Hackers have stolen billions worth of cryptocurrency from exchanges over the last 5 years and its not just about "hacking blockchains" but the bigger picture - how do you practically secure exchanges where you buy and hold crypto?

 

[LCHappy]

Does this scare anyone?

https://www.congress.gov/bill/116th-congress/senate-bill/3571/text

"(1) IN GENERAL.—All Federal reserve banks shall, not later than January 1, 2021, make digital wallets available to all residents and citizens of the United States and to businesses domiciled in the United States."

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[Murray]

Does this scare anyone?

https://www.congress.gov/bill/116th-congress/senate-bill/3571/text

"(1) IN GENERAL.—All Federal reserve banks shall, not later than January 1, 2021, make digital wallets available to all residents and citizens of the United States and to businesses domiciled in the United States."

It says digital dollar wallets all over it

Wont this just be an easier way of giving out stimulus rather than posting checks?

Also means you might only be able to spend it certain places rather than saving or paying off debt which is bad for the economy

 

[stellar73]

I personally don't hold any bitcoin or cryptos - I find the subject interesting but wary that there is (in a manner of speaking anyway) counter party risk since you're always dependant on technology functioning correctly. It's also got to the point where it's difficult to know which, if any, of the existing coins will win out long term - If currencies collapse due to all the money printing then central banks will presumably just introduce their own anyway (and seems like this is already in the pipeline with the Fed). If I were to acquire any I would see it more as speculation as oppose to gold & silver which I view as a safer long term store of value, all depends on your purpose though I suppose.

 

[Admin]

I personally don't hold any bitcoin or cryptos - I find the subject interesting but wary that there is (in a manner of speaking anyway) counter party risk since you're always dependant on technology functioning correctly. It's also got to the point where it's difficult to know which, if any, of the existing coins will win out long term - If currencies collapse due to all the money printing then central banks will presumably just introduce their own anyway (and seems like this is already in the pipeline with the Fed). If I were to acquire any I would see it more as speculation as oppose to gold & silver which I view as a safer long term store of value, all depends on your purpose though I suppose.

Every time I see a post like this I cannot help but think its passing this person by. OK...it might not last forever, but you dont have to invest forever and even if it does then the current returns will not be like they are in these nascent years of crypto. Procrastination is the thief of time. For perspective, ethereum is up another 6% today alone...thats more return than you get in a year doing just about anything else. Its up 400% since March i believe from memory. Sometimes you have to forget the whys, what-ifs and so on and just enjoy the ride ....and hopefully jump off at a good time for your personal situation.

 

[stellar73]

Every time I see a post like this I cannot help but think its passing this person by. OK...it might not last forever, but you dont have to invest forever and even if it does then the current returns will not be like they are in these nascent years of crypto. Procrastination is the thief of time. For perspective, ethereum is up another 6% today alone...thats more return than you get in a year doing just about anything else. Its up 400% since March i believe from memory. Sometimes you have to forget the whys, what-ifs and so on and just enjoy the ride ....and hopefully jump off at a good time for your personal situation.

I'm happy for it to pass me by!! I would rather continue to stack silver. It's all very well saying coin X is up 6% today or it's up 400% since March but until you've actual sold what you own and banked the profit (or traded it for a hard asset) then these are just numbers on a screen. I'm sure people who approach it with a short or medium term mindset could do well but so many crypto holders are holding out for some big pay day in the future which I think is inherently risky. 10 years worth of history is not enough history to be able to predict the future, especially with this current climate of recession/depression, possible currency collapses and the possibility of governments introducing their own digital currencies. Each to their own though, everyone has different risk profiles and this just doesn't sit well with mine.

 

[ian]

Interested to know of those investing in silver, do you hold it physically and suffer the tax implication, or have it stored (and thereby not actually own it at all)?

 

[Murray]

Interested to know of those investing in silver, do you hold it physically and suffer the tax implication, or have it stored (and thereby not actually own it at all)?

Royal Mint coins are CGT free

Are there tax implications aside from that?

 

[stellar73]

Interested to know of those investing in silver, do you hold it physically and suffer the tax implication, or have it stored (and thereby not actually own it at all)?

I buy mostly British coins (so CGT free) - if you mean VAT I know there are people that get around this by ordering from Europe - I personally don't bother, only ordering small amounts (hold physically) and confident they will go up significantly enough over time (especially when JP Morgan lose control of rigging the market)

 

[Admin]

@stellar73 ETH up another 11% today alone. I get your point but thats really just about entry and exit points, much the same as stocks and shares. Of course, once you've doubled your initial investment you take that out and are in it risk free.

 

[dee]

@stellar73 ETH up another 11% today alone.

Having a good run at mo. Justin Sun has just mentioned a new announcement on way aswell that will probably push TRX, WIN, JST also if anyone fancies checking it out. It'll be around deFi which is current hype.

 

[JMI]

GBP crushing USD at moment that helps everyone... back to the good old days of 1.40+ I reckon!

 

[stellar73]

@stellar73 ETH up another 11% today alone. I get your point but thats really just about entry and exit points, much the same as stocks and shares. Of course, once you've doubled your initial investment you take that out and are in it risk free.

Going up 11% in a day is great but that also tells me it's volatile. As I said there's just not enough heritage in it for me to feel confident but if you have a good understanding of all its nuances and have made a profit then that's brilliant - most people are FOMO/ greed motivated and are incapable of knowing when to get in/out. Anyway I think the general principle is pick something and amass as much knowledge as you can on it - I understand the silver market and it sounds like you really understand this so good luck and hope it does well for you.

 

[JMI]

Fyi, BTC and crypto smashed to bits today, mind you everything is down, but BTC took mega hit. Bitcoin is now trading at just $10,689 and has lost 6% of its value in the last 24 hours.

 

[Murray]

Fyi, BTC and crypto smashed to bits today, mind you everything is down, but BTC took mega hit. Bitcoin is now trading at just $10,689 and has lost 6% of its value in the last 24 hours.

I'd love a really big fall so I can actually accumulate a decent amount

 

[ian]

Fyi, BTC and crypto smashed to bits today, mind you everything is down, but BTC took mega hit. Bitcoin is now trading at just $10,689 and has lost 6% of its value in the last 24 hours.

Yup, top up time.

 

[starbird]

There is a CME gap at around $9.6k , if you trade BTC you'll know all these CME gaps have filled without fail. The dollar is also stronger today hence the dip.