Crypto Currency Thread (Vol.2)
Discussion
Yes, and maybe they are seeking that and maybe they aren't and the casual response might be "so what", if it comes to it I get my fiat and buy bitcoin, but if you are worried about fiat value, and again that's part of the whole thesis/push for it, then this very much isn't what you want it is?
It's pseudo ownership, that all works fine until there are market/system anomalies, ie in times of high risk/uncertainty you realise the risk is pushed more to you than the fund.
Basically in my view if you want something, Bitcoin or Silver or whatever buy at least some of it so you and you alone are the custodian, and at least not all in a electronic representation/form.
It's pseudo ownership, that all works fine until there are market/system anomalies, ie in times of high risk/uncertainty you realise the risk is pushed more to you than the fund.
Basically in my view if you want something, Bitcoin or Silver or whatever buy at least some of it so you and you alone are the custodian, and at least not all in a electronic representation/form.
"Yes, and maybe they are seeking that and maybe they aren't and the casual response might be "so what", if it comes to it I get my fiat and buy bitcoin, but if you are worried about fiat value, and again that's part of the whole thesis/push for it, then this very much isn't what you want it is?"
FIAT value in this circumstance doesn't make any difference:
approx 1760 IBIT shares = 1 BTC....as share price moves in parallel to BTC then along the line one could just cash out of IBIT and buy an equiv amount of 'pure' with the monies.
on a personal note, far easier for me to trade against other assets which run at a different pace, marginable, and in the 'worst scenario', my missus can access the brokerage and do what she wants with 'whats there' vs having to leave detailed instructions about a cold wallet.
FIAT value in this circumstance doesn't make any difference:
approx 1760 IBIT shares = 1 BTC....as share price moves in parallel to BTC then along the line one could just cash out of IBIT and buy an equiv amount of 'pure' with the monies.
on a personal note, far easier for me to trade against other assets which run at a different pace, marginable, and in the 'worst scenario', my missus can access the brokerage and do what she wants with 'whats there' vs having to leave detailed instructions about a cold wallet.
greengreenwood7 said:
FIAT value in this circumstance doesn't make any difference:
approx 1760 IBIT shares = 1 BTC....as share price moves in parallel to BTC then along the line one could just cash out of IBIT and buy an equiv amount of 'pure' with the monies.
This is the "So what" attitude I was referring to, my point is that a lot of things can happen, and are warned about in the prospectus whereby what you so easily wrote and that makes perfect sense and you can do now in benign times, you may not be able to or certainly not in a reasonable time line in a stress situation. approx 1760 IBIT shares = 1 BTC....as share price moves in parallel to BTC then along the line one could just cash out of IBIT and buy an equiv amount of 'pure' with the monies.
You are saying "I want to own Bitcoin", I'll do it this convenient ETF way and then if that doesn't work out, no problem, I'll extract the fiat value and then do it the harder way, not appreciating fully the higher risk that would coincide with such a situation where you might want to do that? and you won't find out until that time, when the small print, that was always there, is hidden behind, the 9/10ths kicks in and you possibly end up with a fraction of the Bitcoin you should or in extremis none.
At the risk of emboldening the Monero shill, it was a bit of a surprise to me to see the Samourai wallet founders being arrested yesterday. They obviously sailed a bit close to the wind with their 'marketing' of the service a few times, but I don't really see how the technology itself can be illegal? I thought their response to the FinCen allegations was pretty robust.
https://blog.samourai.is/our-response-to-fincen-on...
Will be interesting to see how this plays out in court, but I certainly hope they are not made an example of.
To head off the 'This means you should be using Monero' claim, it really doesn't. If the government can go to these kind of draconian extremes then a small cap privacy focused coin like Monero is the last thing you want to be transacting with! In such cases the government doesn't listen to 'Prove I've been naughty', they go with 'No, you prove you're not!'.
https://blog.samourai.is/our-response-to-fincen-on...
Will be interesting to see how this plays out in court, but I certainly hope they are not made an example of.
To head off the 'This means you should be using Monero' claim, it really doesn't. If the government can go to these kind of draconian extremes then a small cap privacy focused coin like Monero is the last thing you want to be transacting with! In such cases the government doesn't listen to 'Prove I've been naughty', they go with 'No, you prove you're not!'.
Edited by dimots on Thursday 25th April 13:22
Guvernator said:
Your last paragraph is the exact reason why Crypto will never be allowed to threaten fiat. The minute it becomes anything more than a sideshow, they'll come down on it like a tonne of bricks.
But it will just move. That's part of the game theory. For every loser there's a potential winner. China ban principle. If the US comes down on it, it moves somewhere else. Admittedly there is an initial phase of value transfer onto the blockchain to overcome, but that's why I always say the metric to watch is total value locked alongside hashpower.Condi said:
It would take 1 law from the Government to "ban" crypto overnight, if they make it illegal for banks or other financial institutions to handle transfers to or from crypto exchanges then you can have all the crypto in the world but it's no use if you can't get at it.
No it really wouldn’t.Condi said:
I see you've give up actually presenting any argument as to why any more, but are just blindly stating that something will or won't happen just because you think so. I'm still waiting for a reply to my post about 4 or 5 days ago from you.
Because we have been having the same discussion for years and you just choose to ignore such things as China 'banning' bitcoin. You are still persisting with the same bulls
t in the face of bitcoin's current all time highs, in the face of bitcoin being bought by the billion by finance firms, in the face of bitcoin reaching the highest ever hashrate and becoming the world's most secure network.What exactly is your point? Why are you even here? You are just shouting at clouds. You're a flat earther.
Condi said:
It would take 1 law from the Government to "ban" crypto overnight, if they make it illegal for banks or other financial institutions to handle transfers to or from crypto exchanges then you can have all the crypto in the world but it's no use if you can't get at it.
But instead the US government has just decided to approve BTC ETF's, allowing BTC adoption into the traditional financial system.Hong Kong is next.
Other countries such as Canada already have.
But no doubt you'll still find a reason to prove me wrong because...
well, reasons
dimots said:
At the risk of emboldening the Monero shill, it was a bit of a surprise to me to see the Samourai wallet founders being arrested yesterday. They obviously sailed a bit close to the wind with their 'marketing' of the service a few times, but I don't really see how the technology itself can be illegal? I thought their response to the FinCen allegations was pretty robust.
https://blog.samourai.is/our-response-to-fincen-on...
Will be interesting to see how this plays out in court, but I certainly hope they are not made an example of.
To head off the 'This means you should be using Monero' claim, it really doesn't. If the government can go to these kind of draconian extremes then a small cap privacy focused coin like Monero is the last thing you want to be transacting with! In such cases the government doesn't listen to 'Prove I've been naughty', they go with 'No, you prove you're not!'.
why just stick to Monero? Why think one-dimensional? Why not use other 100%-privacy-by-default (true) Cryptos... https://blog.samourai.is/our-response-to-fincen-on...
Will be interesting to see how this plays out in court, but I certainly hope they are not made an example of.
To head off the 'This means you should be using Monero' claim, it really doesn't. If the government can go to these kind of draconian extremes then a small cap privacy focused coin like Monero is the last thing you want to be transacting with! In such cases the government doesn't listen to 'Prove I've been naughty', they go with 'No, you prove you're not!'.
Edited by dimots on Thursday 25th April 13:22
they cannot track what they cannot see. As I've said many times in here before, some people have to learn the hard way.
Condi said:
The excellent store of value has lost 18% in less than a month.
Don't worry, I'm sure not a single person has lost money though.
3 month timeframe, nice investment. Don't worry, I'm sure not a single person has lost money though.
What is it on the 1 year, or 3 year or 5 year?
Condi let’s see how much you’ve been making from your investment portfolio since you’ve been posting in this thread?
Seventyseven7 said:
Condi said:
The excellent store of value has lost 18% in less than a month.
Don't worry, I'm sure not a single person has lost money though.
3 month timeframe, nice investment. Don't worry, I'm sure not a single person has lost money though.
What is it on the 1 year, or 3 year or 5 year?
Condi let’s see how much you’ve been making from your investment portfolio since you’ve been posting in this thread?
Gassing Station | Finance | Top of Page | What's New | My Stuff