[Aces4]

Originally Posted by OrangeBlossomBaby

Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile – The White House

Note - this was ordered back in March, and they've been in the process of ramping up implementation. It's been in the news within the past week.

Quote:
Originally Posted by DrMack View Post
Bitcoin block chain will be hacked eventually. In 10 years folks will be laughing at what people paid for it. Technology will well have surpassed hacking block chain tech.

OrangeBlossom:
The current administration plans for the taxpayers to pay for it.


From your response to DrMack it appears that the plan is for Taxpayers to be paying for hacking, lol.

[Whatnext]

Originally Posted by SoCalGal

YUP... You'd be a multi-millionaire today.

$10,720,258,812.80 at today's price

[tophcfa]

Originally Posted by opinionist

Buying Bitcoin is like going into a casino. You buy plastic chips that have no intrinsic value and gamble on the volatility. When you leave the casino, you convert it back into dollars so you can buy things outside the casino.

I’d rather have the casino chips. They have a face value and a counterparty with an obligation to cash them in for you. With Bitcoin, you’re digitally searching for a greater fool who is willing to buy them from you.

[OrangeBlossomBaby]

Originally Posted by Aces4

Quote:
Originally Posted by DrMack View Post
Bitcoin block chain will be hacked eventually. In 10 years folks will be laughing at what people paid for it. Technology will well have surpassed hacking block chain tech.

OrangeBlossom:
The current administration plans for the taxpayers to pay for it.


From your response to DrMack it appears that the plan is for Taxpayers to be paying for hacking, lol.

Sorry, I thought it was pretty obvious that I was responding to the "what people paid for it" - in other words - the fact that the taxpayers will be paying for bitcoin whether they want to or not, because the government will be investing in bitcoin to create a reserve stockpile.

I didn't think I'd need to mansplain that, but here we are.

[Aces4]

Originally Posted by OrangeBlossomBaby

Sorry, I thought it was pretty obvious that I was responding to the "what people paid for it" - in other words - the fact that the taxpayers will be paying for bitcoin whether they want to or not, because the government will be investing in bitcoin to create a reserve stockpile.

I didn't think I'd need to mansplain that, but here we are.

Don't worry, you weren't mansplaining at all. You were clarifying what you were getting at..

[ithos]

Originally Posted by Boilerman

I used to think bitcoin was a scam but there is a lot of momentum towards bitcoin becoming mainstream including the US government starting a bitcoin reserve. International acceptance makes it look a lot like gold as an investment. I’m coming around to considering IBIT to help diversify.

It’s probably more speculative than many retirees can stomach. But I do think it’ll continue to grow in acceptance.

But they are risky assets. You don't have anything equivalent to an FDIC for a custodian. You might be able to sue them but good luck with that. What happens if you lose your keys?

Coinbase not safe. I was Hacked and lost money when the BTC left Coinbase Wallet with out my permission. I lost all my money
https://www.reddit.com/r/CoinBase/co...nd_lost_money/

[Boilerman]

Originally Posted by ithos

But they are risky assets. You don't have anything equivalent to an FDIC for a custodian. You might be able to sue them but good luck with that. What happens if you lose your keys?

Coinbase not safe. I was Hacked and lost money when the BTC left Coinbase Wallet with out my permission. I lost all my money
https://www.reddit.com/r/CoinBase/co...nd_lost_money/

There are no keys if you own IBIT. It’s an EFT that holds bitcoin. I personally would never own bitcoin on my own.

And yes they are risky but then so are stocks, bonds, real estate, etc.

[bopat]

Originally Posted by Boilerman

There are no keys if you own IBIT. It’s an EFT that holds bitcoin. I personally would never own bitcoin on my own.

And yes they are risky but then so are stocks, bonds, real estate, etc.

If there’s bitcoin, there’s a bitcoin wallet, and there are keys.
A system administrator has those keys at blackrock.

Better hope they’re trustworthy.

[Boilerman]

Originally Posted by bopat

If there’s bitcoin, there’s a bitcoin wallet, and there are keys.
A system administrator has those keys at blackrock.

Better hope they’re trustworthy.

No keys being held by me personally is what I meant. Blackrock is pretty legit.

[ithos]

Lost $75,000 in Crypto After My locked I Phone Was Stolen—What Are My Next Steps?
https://www.reddit.com/r/CoinBase/co...d_i_phone_was/

What is the reason to own BTC now? The Get Rich Quick phase is over.

[CoachKandSportsguy]

The human brain is amazing. It functions 24/7 from the day we we’re born and only stops when you’re trading crypto.

[Caymus]

Originally Posted by ithos

Lost $75,000 in Crypto After My locked I Phone Was Stolen—What Are My Next Steps?
https://www.reddit.com/r/CoinBase/co...d_i_phone_was/

What is the reason to own BTC now? The Get Rich Quick phase is over.

May take a few decades to determine that.