Loading ...BITCOIN GOLDTENT DISCUSSION THREAD
OK..It’s Time . I admit I have been reluctant to have anything to do with an unvisible strange
“newish” ( rhymes with “jewish” ) “Currency” that I can’t even remotely understand. But having read the Quoth the Raven Article Below it’s Obviously time to get with the program .
So I am calling all Goldtenters to come to this thread and share your experience and understanding of Bitcoin in Particular and CryptoCurrencies in general .
When the Most Consequential Human of our times endorses something like this as a “reserve” asset..We need to start educating ourselves .
Canadian Tenters with any experience buying and holding this thing please share. Do you keep it with a registered Dealer …do you keep it in a Private wallet…How do you spend it ? Is it easy to convert back to Fiat ?
WTF ?
Someone please recommend a reputable broker to potentially buy and store bitcoin in Canada and US and other Countries . maybe you can teach some Old Dogs a new Trick
As the author mentioned this is Trump being Trump, saying anything to get votes from various constituencies. This is fine as long as it doesn’t end up becoming a distraction from the important issues. Trump has a record as President and a platform of where he stands on important issues. If he stresses both of those vs Kamala’s dismal limited record and extreme progressive positions, he wins. If he gets distracted and gets in the mud with personal attacks like calling her “a bum”(whether true or not) he is going to turn off the undecided, and independents.
Back to bitcoin. You can trade it or you can hold it. Just like your stash.
BTC and BITI for traders.
Some kind of wallet off the grid and off exchanges for HODLRs.
Then hope for no damaging CMEs as Earth’s protective magnetic field gets weaker and weaker. Otherwise, you’ll be back to CASH once again. And perhaps only the narrow non-fiat cash at that.
I can’t see anywhere currently where I could use Bitcoin to buy or pay for anything where I live. Food utilities none of them. Can’t use Gold or Silver readily either. My biggest problem with this crypto thing is we don’t know who came up with the idea. Can the govt turn it off? If I went online to pay an electric bill and the govt chose to shut me down as a subversive am I SOL? If the internet goes down can I use it? I don’t trust it and I think Trump talked about this to garner the “younger” voter.
Can the exchange of bitcoin between two parties ever be really private?
Blockchain so I would think not.
Another thing about Bitcoin. If it’s the next great thing and it is going to the moon why would I spend this superior money? Why not just bleed down my stash of trash cash which is going to 0 and hold Bitcoin?
To me, all the crypto currencies & bitcoin etc are the second biggest scam behind covid.
What the hell – no different than fiat. There is nothing behind them…
Glad to see I’m not alone on Bitcoin. I wouldn’t tough the stuff. I’ve been told that most of the trades are between the principals who trade with each other to jack up the price; then let it crash, rinse and repeat. When asked about Bitcoin in the past I’ve flipped my thumb as if I’m flipping a coin to them, saying “Here, catch! You can have mine”. IMO it’s just another Casino play along with the other Derivatives/ETF’s. This is not a time to get rich. It’s a time to get safe, like with cash out of the bank and PM’s in hand. www
I’m a fan! BTC is the gold standard. Hold this like you would gold. You don’t want to buy things with bitcoin. You want to buy with fiat and store your reserves in something that cant be corrupted. The only reason to hold BTC in an etf is to shield the gains via a tax advantaged account. I use gemini.com in the US. I really like it. I also have a cold storage wallet. I’ve owned a bunch of coins in the past, but currently am positioned in BTC (49%), SOL (49%) and INJ (1%). I educated myself using coinbureau videos on youtube. That’s how I found SOL. It was developed by a Qualcomm engineer out here in California. The engineer figured a way to put a time stamp on the block chain that allowed for much faster processing of transactions. Whereas BTC process at ~7 transactions per second (it may have improved recently), SOL can process greater than 40,000 tps and is faster than visa! Whereas BTC is fixed supply, SOL has an annual inflation rate somerwhere around 7%. However, SOL can be staked in certain wallets which allows for faster processing, and for that you receive a reward. Currently, I am earning 6.7% on my staked SOL while the price is climbing!!!
Check out http://www.coinmarketcap.com to familiarize yourself with the top coins and get different descriptions. Use youtube and CoinBureau for deep dives.
Cheers!