Thread: Bitcoin

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  1. Member
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    #41
    Quote Originally Posted by boneil View Post
    Pretty impressive how well Bitcoin did with the FTX fiasco. Barely broke $16K. If FTX couldn't get it to $10K, not sure what could.
    Totally agree.............I think people really are seeing how decentralization is the difference. (Bitcoin, not crypto)

    And the altcoins/crypto (FTX's FTT, Celsius' coin, Voyager, etc, etc) are centralized and ripe for a rug pull by anyone who is behind the scenes marketing the coin, their development 'team', CEO of issuing coin company, etc., etc.

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    #42
    Quote Originally Posted by motomania View Post
    Totally agree.............I think people really are seeing how decentralization is the difference. (Bitcoin, not crypto)

    And the altcoins/crypto (FTX's FTT, Celsius' coin, Voyager, etc, etc) are centralized and ripe for a rug pull by anyone who is behind the scenes marketing the coin, their development 'team', CEO of issuing coin company, etc., etc.
    I think with Fidelity coming into the picture it gives the masses a legitimate way to participate without having to custody the coins themselves. I think that is positive.

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    #43
    Quote Originally Posted by NitroZ7 View Post
    I think with Fidelity coming into the picture it gives the masses a legitimate way to participate without having to custody the coins themselves. I think that is positive.
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    Excellent point; I totally agree. Cause I don’t think self-custody would be considered user friendly for the average individuals.

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    #44
    Quote Originally Posted by motomania View Post
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    Excellent point; I totally agree. Cause I don’t think self-custody would be considered user friendly for the average individuals.
    The idea of me keeping a long password safe and keeping my computer from getting hacked would scare the heck out of me. I never liked FTX, Coinbase etc., and GBTC looks like a train wreck. If I was going to buy Bitcoin it would definitely be through Fidelity.

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    #45
    Quote Originally Posted by NitroZ7 View Post
    The idea of me keeping a long password safe and keeping my computer from getting hacked would scare the heck out of me. I never liked FTX, Coinbase etc., and GBTC looks like a train wreck. If I was going to buy Bitcoin it would definitely be through Fidelity.
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    definitely with you there about fidelity, it certainly seems like the best direction to get into bitcoin at the moment...............and i cant believe GBTC is still hanging on.............price going up lately too. makes no sense. (unless word of the mess behind the scenes at GBTC hasnt gotten out to the masses?)

    i was invested in GBTC for a while. thankfully i stuck with social media platforms and am able to scroll thru different sites daily (sometimes only briefly). lots of red flags about GBTC started popping up a while back online, so i bailed out. glad i did too............although price is up at the moment.................i just cant see sticking with them and their shenanigans with DCG and others. shady, shady,

    unless someone has been buying bitcoin directly and practicing self-custody; things have really been the wild west. (still kinda are w/self custody too) but, fingers crossed fidelity settles the dust a bit and makes it easier for the masses to dabble in bitcoin a little more sanely. (did i just use bitcoin and the word 'sane' in the same sentence?!!?!)

  6. #46
    Being decentralized, a finite amount of it, and a world wide currency is what makes it attractive to me, especially as a hedge against the USD. I'm not crazy about about Uncle Sam having complete control over printing all the money they want, creating all the debt they want, causing inflation, and setting interest rates at whatever they want. Governments can hinder bitcoin but not shut it down. If you have your bitcoin on a hardware wallet, and have internet access you can make a peer to peer transaction. Nothing the government can do about it. It's not all that difficult to memorize your private keys. Even if Uncle Sam found and confiscated your hardware wallet, they would have to cut off your head to keep you from accessing your bitcoin.

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    #47
    Quote Originally Posted by mossie3 View Post
    Being decentralized, a finite amount of it, and a world wide currency is what makes it attractive to me, especially as a hedge against the USD. I'm not crazy about about Uncle Sam having complete control over printing all the money they want, creating all the debt they want, causing inflation, and setting interest rates at whatever they want. Governments can hinder bitcoin but not shut it down. If you have your bitcoin on a hardware wallet, and have internet access you can make a peer to peer transaction. Nothing the government can do about it. It's not all that difficult to memorize your private keys. Even if Uncle Sam found and confiscated your hardware wallet, they would have to cut off your head to keep you from accessing your bitcoin.
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    Excellent points. And with so much distrust in the government (certainly noticeable on these boards); it perplexes me that people arent more receptive to Bitcoin and its possibilities.
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    Speaking of money printing.

    Last edited by motomania; 01-27-2023 at 01:11 PM.

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