World of crypto

[NottsRam77]

8 hours ago, David said:

It's still a bit geeky though.

If I was to ask my family and close knit friends group to go and open a savings account and deposit £100 in, without fail, every single of them would be able to do so with no problems.

If I was to as the same people to go and open a stocks and ISA account, deposit £100 and buy Share's in Love Honey or something, without fail, every single one of them would be able to do so with no problems.

Now if I was to ask the same people, go and get yourself a digital wallet and purchase £100 worth of Bitcoin, I don't think one would be able to without asking how, and I couldn't even answer that myself. 

I'm sure you could provide me with YouTube videos and a ton of links how to, yet that's the problem, all the research you have to take to get into it. Which makes it geeky.

And cult like.

I don't mean to disrespect or insult by calling it a cult, however that's exactly what it is. Like the veganism thing, how do you know someone's a vegan? Don't worry, they will tell you. 

Feels like they are all on individual missions to recruit, build their cult following.

You know what? That's a huge turn off for many, including myself. If I'm down the pub with mates and one says I'm trying this vegan diet, explains they have concerns over animal welfare and it stops there, or that they have heard there is a company called Bobs Toys who's share price is going to rocket in the next week or two, and stops there. 

I'm more inclined to look in to it.

Yet if they bang on and on and on and on, as I say it's a huge turn off.

I'm not specifically talking about you "banging on", however the Crypto cult do bang on and the only reason can be is they are recruiting to help boost the value of their investments.

Reddit went though it with the GameStop shares a few years back, diamond hands this and that, people were sharing screenshots proudly showing off their dwindling investments, some in debt, but diamond hodl.

I really do hope you're one of the lucky ones that gets the huge profits to achieve your goals, I honestly do, when you sell though, just keep it quiet as you were meant to hodl!

Couldnt be easier Download nexo or revolute app off the app store

apple pay £100 of btc .. 

literally couldnt  be easier 🤷

Edited April 20 by NottsRam77

[Stive Pesley]

8 hours ago, Crewton said:

Apologies if I've got this wrong, but surely when the rewards for miners halve, the unit cost of mining doubles along with the environmental cost per unit, making bitcoin mining a distinctly un-green enterprise?

Correct. Until they figure out a net zero way to mine. Which is essential if bitcoin is to have a future. If nothing changes in terms of energy generation prices then after the next couple of halvings mining will likely stop as uneconomical 

[Stive Pesley]

48 minutes ago, NottsRam77 said:

Couldnt be easier Download nexo or revolute app off the app store

Does this give you your own local wallet or are you holding it with a broker like coinbase? (And therefore at risk of losing it all when they over leverage and go bankrupt)

[Day]

15 minutes ago, Stive Pesley said:

Does this give you your own local wallet or are you holding it with a broker like coinbase? (And therefore at risk of losing it all when they over leverage and go bankrupt)

Beat me to it.

I was under the impression true Bitcoiners had digital wallets and avoided brokers. 

[NottsRam77]

1 hour ago, Stive Pesley said:

Does this give you your own local wallet or are you holding it with a broker like coinbase? (And therefore at risk of losing it all when they over leverage and go bankrupt)

U buy them and theyre held on the nexo platform or revolute one

revolute is a bank… so depends how much u trust a bank.

But if u want total control and security then yes u have to put it on a ledger .. not a big deal , its basically a secure usb stick

[NottsRam77]

1 hour ago, David said:

Beat me to it.

I was under the impression true Bitcoiners had digital wallets and avoided brokers. 

U have to buy it from somewhere unless ur doing peer to peer

i buy off nexo and revolute and just transfer it to my ledger 

its not hard 

copy and paste ur wallet address and press a button 

[Day]

8 minutes ago, NottsRam77 said:

U have to buy it from somewhere unless ur doing peer to peer

i buy off nexo and revolute and just transfer it to my ledger 

its not hard 

copy and paste ur wallet address and press a button 

It's not hard to create a website. 

Things are only easy with knowledge, you've thrown in another thing now, ledger, is that another term for a digital wallet?

Look back at your own personal experience, from day 1 of reading into Bitcoin to actually investing, how long did that take?

[cstand]

3 hours ago, David said:

It's not hard to create a website. 

Things are only easy with knowledge, you've thrown in another thing now, ledger, is that another term for a digital wallet?

Look back at your own personal experience, from day 1 of reading into Bitcoin to actually investing, how long did that take?

Just watched this she gives a very good guide of the pitfalls of buying crypto 

 

[NottsRam77]

7 hours ago, cstand said:

Just watched this she gives a very good guide of the pitfalls of buying crypto 

 

Buying crypto?  … just bitcoin .. for reasons i have discussed so many times here

only trying to keep my fellow rams safe 

 

[NottsRam77]

11 hours ago, David said:

It's not hard to create a website. 

Things are only easy with knowledge, you've thrown in another thing now, ledger, is that another term for a digital wallet?

Look back at your own personal experience, from day 1 of reading into Bitcoin to actually investing, how long did that take?

Ledger is cold wallet storage. So your btc lives in this on not in the digital world. Its considered the safest method of storing it but theres nothing wrong with digital storage / wallets. 
just dont leave ur btc on an exachange for too long, just incase, not ur keys not ur bitcoin. 
 

my own journey, in terms of buying and putting onto a digital wallet .. not very long 

im semi tech savy, ie im was a typical 90’s teenager, loved gaming and grew up messing around on pcs so i know the basics … but even without that background

buying from a site and then copy and pasting my digital wallet address that i have downloaded really was no harder than trying to install sid miers civilisation lol

in terms of learning about bitcoin itself… thats taken 2-3 years 

but im so glad i invested that time 

[NottsRam77]

13 hours ago, Stive Pesley said:

Does this give you your own local wallet or are you holding it with a broker like coinbase? (And therefore at risk of losing it all when they over leverage and go bankrupt)

The latter, while u can view it on their site they are holding it for u and so they hold the keys not u.

for ref which i dont mind sharing 

the majority of mine is sat in cold storage on my ledger.

then i have some on nexo and some on revolute.

i like the fact that nexo pay interest on your balance in bitcoin… but im aware of the not my keys not my btc

not loads .. but those two will be the two i shift first if prices start to get “difference making” in terms of my life. 
 

the cold storage stuff might not move this cycle .. just depends 

[NottsRam77]

Here u go … an example of “crypto vs bitcoin.

one of the more famous ones .. xrp vs bitcoin.

all time chart monthly chart … they all trend to nothing against bitcoin… cos theyre being inflated …. Like the fiat currencies we use day to day.

Remember what iv said …. A weak asset against a strong asset.

Exactly like the pound against the dollar .. and exactly like the dollar against bitcoin 

 

Edited April 21 by NottsRam77

[cstand]

39 minutes ago, NottsRam77 said:

Here u go … an example of “crypto vs bitcoin.

one of the more famous ones .. xrp vs bitcoin.

all time chart monthly chart … they all trend to nothing against bitcoin… cos theyre being inflated …. Like the fiat currencies we use day to day.

Remember what iv said …. A weak asset against a strong asset.

Exactly like the pound against the dollar .. and exactly like the dollar against bitcoin 

 

Bitcoin priced in gold is 30% down from its ATH 2 1/2 years ago.

Love these pair great debate and fun.

 

Edited April 21 by cstand

[NottsRam77]

9 minutes ago, cstand said:

Bitcoin priced in gold is 30% down from its ATH 2 1/2 years ago.

Love these pair great debate and fun.

 

Agree, peter is awsome and will fight for gold til his last breath lol

re btc v gold … again .. on the bigger time scale 

dont get me wrong if btc wasnt about id happily hold gold over fiat .. but thats the beauty of btc anyone can buy 50 quids worth a month if they want … cant really do that with gold 

[NottsRam77]

Show it to the people of derby lol 

explains what bitcoin is for those that dont / want to know 

[cstand]

On 21/04/2024 at 10:14, NottsRam77 said:

Agree, peter is awsome and will fight for gold til his last breath lol

re btc v gold … again .. on the bigger time scale 

dont get me wrong if btc wasnt about id happily hold gold over fiat .. but thats the beauty of btc anyone can buy 50 quids worth a month if they want … cant really do that with gold 

You don’t have to buy just gold.

Newmont gold mining company is up approx 30% since Peter Schiff bought it a couple of months ago.

When the sell other assets from the Newcrest merger I would expect a handsome one off special dividend.

[cstand]

18 hours ago, cstand said:

You don’t have to buy just gold.

Newmont gold mining company is up approx 30% since Peter Schiff bought it a couple of months ago.

When the sell other assets from the Newcrest merger I would expect a handsome one off special dividend.

Newmount up 10% today 

[NottsRam77]

Its going to be a very intersting time tbh macro political wise

will the pound continue to fall against the dollar?

will the US enter a recession?

will we enter a recession?

war in Ukraine and it effects around the world.. more borrowing , more inflation

war in the middle east, more funding, more borrowing, more inflation

how will the brexit import charges that kick in end of the month effect our food prices, potentially more inflation.

will inflation ever come under control to the 2% target.

will interest rates come down (obviously tied with inflation)

how will this effect the stock markets, how will this effect bitcoin

Personally i think were still in for a tough ride for at least a couple of years minimum. 
 

see what happens

[cstand]

1 hour ago, NottsRam77 said:

Its going to be a very intersting time tbh macro political wise

will the pound continue to fall against the dollar?

will the US enter a recession?

will we enter a recession?

war in Ukraine and it effects around the world.. more borrowing , more inflation

war in the middle east, more funding, more borrowing, more inflation

how will the brexit import charges that kick in end of the month effect our food prices, potentially more inflation.

will inflation ever come under control to the 2% target.

will interest rates come down (obviously tied with inflation)

how will this effect the stock markets, how will this effect bitcoin

Personally i think were still in for a tough ride for at least a couple of years minimum. 
 

see what happens

Inflation is the result of continuing money printing and ever increasing debt, I cannot ever see it being under control for a very long time.

In the US due to the decriminalisation of shop lifting, criminal gangs are raiding stores on a regular basis which is increasing prices for everyone as well.

Peter Schiff reckons by 2031 the tax revenues in the US will only cover the debt repayments, social security, Medicare, military, this is why he has already left for the tax haven of Puerto Rico because he knows income taxes will be substantially higher.

Even if the US came to its senses and elected a strong leader the opposition would be taking them to the courts all the time. 

At some point there is going to be an almighty crash and all assets will drop in value by approx 40% or inflation will remain high for a long time just like the seventies.

If everything crashes and taxes are higher then Bitcoin will be used to avoid paying taxes.

Only other possibility is go back to some kind of gold standard.

As for the UK, if the US sneezes the rest of the world will catch a cold.

 

 

Edited April 26 by cstand

[Wolfie]

23 minutes ago, cstand said:

Inflation is the result of continuing money printing and ever increasing debt,

 

That only fuels demand side inflation.

The high inflation the world has seen in the last 2-3 years has been purely due to supply side shocks, firstly from global supply chains post-covid and then from energy price shocks.