231–240 of 259 posts
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Holding Bitcoin is not a semantic backflip. Do you hold the dollars in your bank account? Also: gold can easily be confiscated and it has been before - https://en.m.wikipedia.org/wiki/Executive_Order_6102 . How much gold do you think you can travel with? Think the TSA would allow even $100k of gold to be carried on your person? Given golds limited supply, why has the price been relatively stable in dollars (which are…
> Do you hold the dollars in your bank account? No, we don't, which is exactly why gold is considered superior.
Holders of gold maintain custody at risk of physical confiscation.
Holders of Bitcoin maintain custody (of the password that allows spending said Bitcoin) and are cannot he compelled one way or another. The bitcoin moves when they say so.
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bitcoin is not really "there" the same way as gold is. The whole point of gold is that it is a tangible asset. You can hold gold in your pocket or under your mattress and it costs nothing to store it. You can't prove you have bitcoin if you don't have internet access for example. You can't have bitcoin if miners don't run their nodes. Basically, you are depending on a resource in faraway lands to let you "own" what y…
This is another misconception. Gold can be held, yes. It also is expensive to verify, transport, and protect. This has proved problematic for holders of the past. A paper system had to be built on top of Gold, which severely diluted the value proposition as gold was confiscated and stockpiled centrally. Practically speaking, very few individuals hold gold and the utility of doing so is limited when you consider how l…
How much of that 1T dollars would you keep after you try to pump it into bitcoin and then try to pump it out?
It's a common misconception that Bitcoin is a safe haven. It's not. Not even Gold is a safe haven during a liquidity crisis. In sharp downturns, cash is king. Think of Bitcoin and Gold as call options on the entire global monetary system. If Govs become insolvent, Bitcoin and Gold is there. If the masses lose faith in central banks, Bitcoin and Gold is there. If central banks debase currencies too quickly, Bitcoin an…
I suspect that by this time next year Bitcoin will be seen as a safe haven. The events that are about to play out are exactly what Bitcoin was designed for.
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I still think this is true in a "traditional" bear market where companies are doing poorly. I don't think is applies when the entire market is panic selling to acquire supplies.
This is the first bear market (drop of 20% from a recent peak in broad-based index) Bitcoin or the crypto-currency market has ever seen, 'traditional' or not, so it's really uncharted territory.
Earlier quoted context omitted.
This is another misconception. Gold can be held, yes. It also is expensive to verify, transport, and protect. This has proved problematic for holders of the past. A paper system had to be built on top of Gold, which severely diluted the value proposition as gold was confiscated and stockpiled centrally. Practically speaking, very few individuals hold gold and the utility of doing so is limited when you consider how l…
"Bitcoin let’s you store $1T USD of dollars in your head, transport it anywhere in the world, and there’s not a single thing anyone else can do about it." How much of that 1T dollars would you keep after you try to pump it into bitcoin and then try to pump it out?
I actively trade crypto. Today's crash was due (from what I'm seeing) to a massive Bitmex contract liquidation (probably in the $100m-300m range). The market, with panic, couldn't get the price in sync across all exchanges. At some point the difference between two exchanges is close to $1000/btc. Very profitable if you know what you are doing. You can AMA.
Earlier quoted context omitted.
This is the first bear market (drop of 20% from a recent peak in broad-based index) Bitcoin or the crypto-currency market has ever seen, 'traditional' or not, so it's really uncharted territory.
Bitcoin has experienced large price crashes several times before.
I actively trade crypto. Today's crash was due (from what I'm seeing) to a massive Bitmex contract liquidation (probably in the $100m-300m range). The market, with panic, couldn't get the price in sync across all exchanges. At some point the difference between two exchanges is close to $1000/btc. Very profitable if you know what you are doing. You can AMA.
You did arbitrage between the bitcoin exchanges?