Search found 205 matches

by bitcoininthevp
Tue Jan 05, 2021 2:28 pm
Forum: Gold
Topic: Gold outflows, bitcoin inflows
Replies: 10
Views: 416

Gold outflows, bitcoin inflows

Im curious if bitcoin really is becoming a competitor to gold. Im a fan of both assets.

Since October:

More than $3bn of inflows into Grayscale Bitcoin Trust
More than $7bn of outflows from Gold ETFs

Image

Does anyone else have other data sets on this?
by bitcoininthevp
Mon Jan 04, 2021 11:07 am
Forum: Variable Portfolio Discussion
Topic: What's up with Paypal and bitcoin?
Replies: 11
Views: 332

Re: What's up with Paypal and bitcoin?

Ever used kraken? Yes, they are fine too. As long as you are not trading BTC, any of these should be ok from a fee perspective. For one time buy and hold investments, that is. Once comfortable, consider holding your own coins as it prevents exchange/custodial risks. Similar to Harry recommending ho...
by bitcoininthevp
Mon Jan 04, 2021 11:04 am
Forum: Other Discussions
Topic: Bitcoin - they coming for you
Replies: 43
Views: 1123

Re: Bitcoin - they coming for you

And if the US government were to outlaw Bitcoin because it is being used for criminal activity? What effect would that have on price? Terrible for price short term. And they will likely try something like it. Blame terrorist attack on Bitcoin, blame Bitcoin for global warming, the wealth gap, whate...
by bitcoininthevp
Mon Jan 04, 2021 10:56 am
Forum: Other Discussions
Topic: Bitcoin - they coming for you
Replies: 43
Views: 1123

Re: Bitcoin - they coming for you

Xan wrote:
Mon Jan 04, 2021 9:25 am
bitcoininthevp wrote:
Mon Jan 04, 2021 9:13 am
...spy on their transactions...
Doesn't Bitcoin keep a complete record of all transactions forever and ever?
Surely, but only addresses are recorded (pseudonymous). Not name address phone number merchant email, associated passport, social credit score, blah blah.
by bitcoininthevp
Mon Jan 04, 2021 9:13 am
Forum: Other Discussions
Topic: Bitcoin - they coming for you
Replies: 43
Views: 1123

Re: Bitcoin - they coming for you

Finally, the nature of Bitcoin is going to invite future government regulation and oversight. The potential of a currency like it to be used for all sorts of illegal activity is going to invite a lot of government scrutiny. Bitcoin is anti government and anti central banks. If governments and CBs d...
by bitcoininthevp
Mon Jan 04, 2021 8:58 am
Forum: Variable Portfolio Discussion
Topic: What's up with Paypal and bitcoin?
Replies: 11
Views: 332

Re: What's up with Paypal and bitcoin?

I think Square's CashApp is a great way to buy some bitcoins to get started.

Coinbase is fine too.

River.com would be my recommendation for larger amounts, although I have not used them directly.
by bitcoininthevp
Mon Jan 04, 2021 8:55 am
Forum: Other Discussions
Topic: Bitcoin - they coming for you
Replies: 43
Views: 1123

Re: Bitcoin - they coming for you

I don't understand the first thing about Bitcoin but I do have one anecdote... At the gym where I work out there is a Nigerian guy who likes to talk about his investments and how he's made X amount of money on whatever. When Bitcoin hit $20,000 last month he sold his entire position and told me tha...
by bitcoininthevp
Mon Jan 04, 2021 8:52 am
Forum: Other Discussions
Topic: Paypal and Crypto - Is this anything?
Replies: 6
Views: 276

Re: Paypal and Crypto - Is this anything?

Paypal uses a company called Paxos for crypto stuffs: https://www.forbes.com/sites/ninabambysheva/2020/12/17/paypals-cryptocurrency-partner-paxos-raises-142-million/?sh=365178eb422d "In October, payment giant Paypal launched a cryptocurrency trading service in partnership with Paxos, letting custome...
by bitcoininthevp
Mon Jan 04, 2021 8:46 am
Forum: Variable Portfolio Discussion
Topic: So much for the anonymity of Bitcoin
Replies: 26
Views: 1011

Re: So much for the anonymity of Bitcoin

Like it or not, Bitcoin is to some degree holding gold back at this point. The current buyers who have exploded the market cap by double in a few months are not buying for a safe haven, they buying lotto tickets. They would not be gold buyers. This is an unsubstantiated claim. In fact nearly every ...
by bitcoininthevp
Mon Jan 04, 2021 8:39 am
Forum: Other Discussions
Topic: Bitcoin - they coming for you
Replies: 43
Views: 1123

Re: Bitcoin - they coming for you

Another reason Bitcoin scares me for holding a great deal of wealth is there is no one to appeal to in the event that your money evaporates. Once money leaves your account it can never be clawed back, and since there is no centralized agency running this operation you have no legal recourse. Would ...
by bitcoininthevp
Mon Jan 04, 2021 8:36 am
Forum: Other Discussions
Topic: Bitcoin - they coming for you
Replies: 43
Views: 1123

Re: Bitcoin - they coming for you

I wonder if anyone has considered creating a gold backed digital currency that would allow convertibility into gold while also allowing the transactability of Bitcoin. Seems like gold bugs should be answering the crypto revolution with their own product. A gold-backed cryptocurrency requires a cent...
by bitcoininthevp
Mon Jan 04, 2021 8:32 am
Forum: Other Discussions
Topic: Bitcoin - they coming for you
Replies: 43
Views: 1123

Re: Bitcoin - they coming for you

I am coming around to the idea that an effective cryptocurrency doesn't need any backing and is probably better off without it. If there's no backing then there's nothing to steal or misappropriate. Some people shoot back and say then there's no inherent value, and that leads us perilously close to...