Who's Holding BTC?

[JMI]

Agreed.. buy the dip, if your not long your wrong!

 

[Admin]

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.

OH please, if you pull up a 3 month or 6 month or 1-year chart, it's still up on all of them! The upward trajectory of assets is never in a straight line.

 

[Admin]

just bought back a few i sold earlier in the week.

 

[lazarus]

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)?

The way I accumulated silver tax free was to buy it from the public. A couple of ads here and there and I soon had a couple of KG's of Silver.

There is a guy that has a stall on a car boot that bought silver. I would just buy his daily takings a few quid more than he could off load it for. Again a tax free purchase.

Also it is in the best possible form, Scrap jewellery, spoons, candle holders etc.
Easier to get rid of when I want to cash out as Bars and coins are faked but scrap is plain to see.

Also buying coins and bars, you loose so much money compared to paying spot price.

I just hold it in a big old safe at work. Waiting for silver to hit triple digits.

 

[Murray]

Huuuge news

"PayPal to allow cryptocurrency buying, selling and shopping on its network"

https://www.reuters.com/article/pay...ing-and-shopping-on-its-network-idINL1N2HB14U

This will add a level of ease and trust for the general public to get into bitcoin not yet seen

 

[Admin]

Absolutely massive news, love it.

 

[Murray]

Absolutely massive news, love it.

What will a bitcoin bubble look like if the general public can hear about it on the news and it's as simple as logging into your paypal account to get some?. Will force big institutional investors to get involved

Previous all time high is going to look like nothing

 

[Admin]

What will a bitcoin bubble look like if the general public can hear about it on the news and it's as simple as logging into your paypal account to get some?. Will force big institutional investors to get involved

Previous all time high is going to look like nothing

Yes, the previous ATH will look like nothing. The big institutional investors have already started getting involved:

https://www.forbes.com/sites/michae...-investors-could-soon-disappear/#86d7c521de2c

 

[ian]

A lot of huge institutions have been buying up Bitcoin for months which is playing a major part in the recent upturn; the news today just adds to this. I hope for a steady climb with a $10k floor. The skies the limit on full blown adoption, we could be looking north of $100k.

 

[Highway]

There's a school of thought that the coin likely to make the biggest percentage gains could be the one that appears "cheapest" on Paypal, which the press release indicates will probably be Litecoin,

The majority of people buying crypto on Paypal will be complete newbies, so psychologically Litecoin could well appear to be "better value" than Bitcoin to the uninitiated. If this is the case it could become a self fulfilling prophecy of sorts, as people like to brag about their successes, and everyone uses paypal.

It's a discussion point as opposed to any sort of firm personally held opinion, so obviously DYOR

 

[Murray]

There's a school of thought that the coin likely to make the biggest percentage gains could be the one that appears "cheapest" on Paypal, which the press release indicates will probably be Litecoin,

My guess is all other cryptos will just sound like gibberish (at least in the near future), people recognise Bitcoin at least

But a high tide raises all boats so if btc is doing well the rest will probably follow to varying degrees

 

[dee]

This is great news. Ive just swapped out most of my long term holds for LTC which I think people will perceive as a bargain at least until the news is implemented. Long term will swap for BTC probably.

 

[Admin]

Another firm (UK this time) is getting involved and have yet to make their purchase.. @Murray

https://www.coindesk.com/uk-listed-firm-mode-putting-10-of-cash-reserves-into-bitcoin

 

[martin-s]

Paypal announcement is US only until the new year - so time will tell

 

[Adam H]

Probably about time I actually got myself a wallet, Had an overseas client ask if id take payment in bitcoin last week.

How does one go about getting a wallet, where from and what are the ups and downsides ? Do we still have to mess about with flash drives and bollox to keep them safe ? I'm more likely to corrupt or lose a flash drive than I am to get it robbed off my phone lol

 

[Highway]

"Trust Wallet" is the official wallet partner for Binance. It is a mobile app. One of the best out there. You have control over your own crypto, safe as houses. Takes Bitcoin, Eth and 100s of others.

Just stash the recovery phrase somewhere and you can restore it on a new phone if you lose / break / whatever yours.

 

[Admin]

Probably about time I actually got myself a wallet, Had an overseas client ask if id take payment in bitcoin last week.

How does one go about getting a wallet, where from and what are the ups and downsides ? Do we still have to mess about with flash drives and bollox to keep them safe ? I'm more likely to corrupt or lose a flash drive than I am to get it robbed off my phone lol

Based on what you have said, you can start with a simple App wallet like Bitpay.

 

[Murray]

I highly doubt the general public are waiting for 'paypal support' before they buy lots of Bitcoin. If they want it, they already have easy access to purchase it.

Adam who is probably more tech savvy than 99.9% of the public posted

Probably about time I actually got myself a wallet, Had an overseas client ask if id take payment in bitcoin last week.

How does one go about getting a wallet, where from and what are the ups and downsides ? Do we still have to mess about with flash drives and bollox to keep them safe ? I'm more likely to corrupt or lose a flash drive than I am to get it robbed off my phone lol

That says it all about how easy its been

 

[Adam H]

Adam who is probably more tech savvy than 99.9% of the public posted

That says it all about how easy its been

Haha, indeed the crypto stuff is certainly something I need to brush up on, normally anything technical that also involves making money im all over it, but I have to admit I havent got a clue where to start with it. Only dealings ive had with Crypto is CFD trading of Crypto instead of holding the real thing

When clients start asking to use something with sigificant values its starts to become hard to ignore.

 

[ian]

How does one go about getting a wallet, where from and what are the ups and downsides ? Do we still have to mess about with flash drives and bollox to keep them safe ? I'm more likely to corrupt or lose a flash drive than I am to get it robbed off my phone lol

The safest way to hold Bitcoin is on a Ledger or Trezor (only buy from them direct, make sure unit is sealed). It is a USB style device with a UI for transactions, but losing it isn't a problem, the problem is if you lose the seed phrase/key which is essentially the key to access the wallet, no matter which provider you use (they are interchangeable).

Others have recommended alternatives for ease that you can run from your mobile phone but still provide you with a seed phrase (typically 12 or 24 words). Keep that, write it down, store safely.

Electrum is good for Bitcoin from a computer (but complex), there are others like blockchain.com, exodus etc for mobile.

Rule of thumb, "Not your keys, not your Bitcoin", which references just holding funds on an exchange; an absolute no unless day trading.

You might want a wallet for Ethereum too, which also covers a large number of ERC-20 tokens. Without doubt the easiest to use is Metamask, and might be a good starting point to get use to how it all works (doesn't work for Bitcoin).

You have to be extremely careful when transferring funds between addresses; get anything wrong and the funds are gone for good. Always copy the address, never duplicate it, and triple check it always. Always recommend you send a small amount first to check it works, and monitor 'gas' fees (what you pay the miner to process your transaction) as they can be high at times, but equally you can set them too low that it takes an age for funds to move.

Best places to buy/invest in Bitcoin and others would be Coinbase, or Kraken. KYC will be needed to deposit/withdraw fiat, which is why I've mentioned only those two.