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Bitcoin anyone? Crypto?

I have always been in fear for my money, or rather for digital money. I was always afraid that someone would take them off for themselves and they are not safe. Therefore, I decided to find information on the Internet and came across a great site where they wrote about a hardware wallet and how it works and protects your money. In general, there is a lot of useful information on this site. If you are interested, go read it.
Seems like a plug for this Napbots rather than in-depth information about crypto trading. The link just scans some very basics about trading/storing crypto, then goes into full "sales" mode about Napbots.
 
Bitcoin has become a purely speculative asset with no intrinsic value.

You can't buy stuff or sell stuff as the value value moves around like a speculative bubble.
In the past 5 years, I have come across many Title Companies and Closing Attorneys nationally who accept Bitcoin on Real Estate transactions. They are few and far between, but they are out there. It is certainly not the norm, but it is becoming more and more accepted by the day.

In all honesty, the 2A community should embrace crypto and develop our own for dealing in 2A items. Have it backed by Gold or Silver. Eventually, the private credit/debit card companies and processors will completely eliminate our ability to use electronic forms of payment, by adjusting their "Terms of Service". And if cash is going away, so will our ability to deal in cash, etc.
 
It is certainly not the norm, but it is becoming more and more accepted by the day.
It is a good deal for lawyers. They can hide taxable income from the IRS.

Drug dealers are already using it.

If you look at a chart of bitcoin trades, it looks to be forming a head and shoulders pattern (bullish-to-bearish trend reversal). Much of the recent price run-up are speculators driving it up in anticipation of the new ETF that the SEC has approved.

BTW, no bank or brokerage house that I use will allow crypto-currency trades. They don't want to risk their cash balance sheets to what is legally an unknown "alternative". Only Congress can write the legal rules.
 
Paypal/Venmo/Coinbase/Square/Robinhood and many other apps allow you to buy/sell crypto. Easy to store the private keys directly. The idea that you can hide your transaction history from the IRS is a misnomer. After all, all the transaction history is immutable and on a public blockchain that anyone can access. In fact, there are forensic companies that specialize in tracing historical jumps and ownership association. There are folks who try to cheat the system by using privacy coins that hide your transactions, but those will start to get increasing scrutiny.

And many companies now offer crypto based credit cards where you sell your crypto for goods and services at time of purchase. These work like a normal Visa card and can be used anywhere the card can be used today. Crypto isn't going anywhere and if you don't have at least a small portion of your portfolio allocated....you will miss out.
 
Janet Yellen recently stated that crypto is in need of examination by regulators, that is was the preferred financial tool of terrorists, drug dealers and tax evaders. WHAT THE WHAT??? What the hell do you think CASH has been for the last hundred years? And no, Janet, no GA1911, crypto is not the preferred method by drug dealers and such. You cannot hide your crypto sales from the IRS (you have to sell it on an exchange, who reports it to the IRS) and like the previous post said, every transaction leaves a footprint that is permanent and nobody can tamper with it.
As far as adoption, since I started investing in it, I've seen major companies go public with their move towards Bitcoin, even some countries declaring it legal tender. It's here to stay, volatile or not. If you don't trust it, don't play with it. I happen to see the potential and am investing heavily in it, and enjoying the returns.
 
All assets are expensive. Houses are at crazy prices. The stock market is up 20% this year. Used and new cars are up 20%. Inflation is also up 5%+.

My data shows that crypto moves with the stock market. It is directly correlated. The market is down slightly today along with BITO (the new crypto ETF that buys forward contracts---and more are coming).

I am really not buying anything. It's too expensive. I'll wait until we have a day like 10-19-1987 when the market dropped 20% in one day (Black Monday). Most of the Reddit crowd has never seen a severe correction.
 
I just read the new issue of Barron's. I have read it every week for 30+ years. This is the new one dated 10-26-2021:

Barron's.JPG


It says Bitcoin goes mainstream and also breaks down the fees for getting in. It also mentions the risk.

I'd like to see how it trades over the next 2 years (they mention no trading history) before getting in. You early guys are future millionaires or maybe not.

This issue also mentioned the pilot thing as written by Randall Forsyth:

"It's also been observed that there are bold pilots, and there are old pilots. but there aren't any old, bold pilots."
 
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