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.

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...

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.

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...

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 cu...

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 ...

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 ...

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...

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...

Those who understand the technology and monetary system have a much more reasoned approach. You found a guy in a vox article whose claim is not technical at all. His claim is that mining is centralized and that transactions could be censored. This is not a technical argument and has valid rebuttals...

Gold has money-valuable properties that the others dont. Bitcoin has money-valuable properties that the others dont. What are bitcoin's properties? Gold I get. You can eschew all it's properties and just say it's beautiful and women like it for jewelry lol. That's enough to ensure it will always be...

Yes, that's what the marketing brochure says. I'm not so sure I buy that. I don't know enough about any of this to even attempt to claim I understand what is going on. But, when people at major research institutions who understand and study this technology call it bullshit...I give that some weight...

I think rebalancing on something like bitcoin shouldn't be done in the traditional way personally. Bitcoin is bubbling on 4 year cycles so far (very limited data ofc). These cycles have to do with the halving that the emission rate goes through every 4 years. https://www.bitcoinblockhalf.com/images/...

I think the bitcoin that Marc de Mesel generously gave me on this forum that Reub and i were unable to cash out was worth $2000 when BTC was $10,000, so $4,000 now. What a shame. They want 12 words in a passphrase, and I have 9. Im not aware of any 9 word seeds. Its possible it was a 12 word seed a...

It probably will hit some ungodly ridiculous number like 300,000 before it pops. You’re right. Then the bubble will pop down to $50k and everyone will call it dead. Like they did from $30->$1, $260->$40, $1200->$200, $19k->$3k. Do you see the pattern? How many decades and increasingly larger bubble...

There have been multiple, and very credible reports, that Bitcoin has been used on a massive scale for money laundering by organized crime figures. And that there was a lot of price manipulation, again by gangsters, in BC's earlier big moves. I wouldn't touch BC even if I was playing with Donald Tr...

https://www.theverge.com/2020/12/22/22195834/cryptocurrency-fincen-regulations-private-wallets Don't say I didn't warn you... Some things missing from this thread that I think are important: - Bitcoin was never anonymous. Its pseudonymous since you can see bitcoins being transferred between "a...

How does one turn BTC into dollars without cashing them into some form of currency first and going into an account of some kind? With Gold that you hold physically, as long as cash is still legal... Hey, I'm not knocking Crypto here. I am admittedly ignorant with regard to the intricacies of this a...

How does one turn BTC into dollars without cashing them into some form of currency first and going into an account of some kind? With Gold that you hold physically, as long as cash is still legal... Hey, I'm not knocking Crypto here. I am admittedly ignorant with regard to the intricacies of this a...

Have not read the whole thread so apologies if it’s already been said. The Winkelvi recently said something to the effect that gold will be worthless because Elon Musk will be able to mine asteroids for unlimited amounts of gold. These guys are IMHO parasites who have extracted wealth from every ho...

Bitcoin strikes me as a way to drum up big returns in a world where there isn't any. It's one of the last assets that truly has the potential to go to the moon because the market for bitcoing is curently so small. If it starts attracting institutional money it could literally go up 20, 30, even 100...

Unlike Gold, you have to transfer back into the system with Bitcoin, whereas you can completely, pretty much anyway, accomplish the opposite with the PM's. I dont understand why Bitcoin requires transfer back into the system while gold does not. https://101blockchains.com/wp-content/uploads/2018/06...

What about the downside of complete traceability of every single transaction that has ever happened and will ever happen? That sounds like the wet dream of any government. "Complete traceability" isnt necessarily correct. You can transact more or less privately. You can mine coins anonymo...

I don't see why Bitcoin is immune from government attack either. Im really on the fence about Bitcoin. Maybe I'm just too old to get it. Really it's the insane volatility that drives me to the sidelines. Gold, stocks, and long bonds are a wild ride sometimes....Bitcoins movements make me want to pu...

I agree with most of what you said above. Sounds like an argument for murdering your neighbor for his cash and his wife if one can get away with it. No, life is very much about should , and incentives too. Off topic but: The only reason you dont do this is because you perceive bad consequences from ...