Bitcoin is still early

[NapoleanDynamite]

Robinhood

FYI- you cannot self custody your Bitcoin if you trade it on Robinhood.

[NapoleanDynamite]

And just for fun....as I am sure there is another price crash coming some time...

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

[fatlittlepig]

FYI- you cannot self custody your Bitcoin if you trade it on Robinhood.

What does that mean. That’s OK I’m enjoying this robinhood app. It’s fun.

[CordMcNally]

And just for fun....as I am sure there is another price crash coming some time...

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

There's always a crash coming. The question is will the crash prices be higher than today's prices.

[xraygoggles]

Quote from a few months ago mainly for my learning (as I am becoming more open to the idea) but you mentioned a large bubble with Bitcoin >20k and now it's double that but it sounds like you're still buying. What changed for you?

Good question. I was just using numbers from the last bubble in 2017, as a guesstimate. But after looking into it much more and looking at the historical trends of multiple past bubbles, if this one is the same type of bull run, it should rise to at least 100k (or more, since the previous bubbles didn't include any institutional money), based on some charting and technical analysis (I did not do it myself, since I don't know how, I just looked at what other people were thinking). If you google it, you will find many articles of the growth pattern and trajectory of Bitcoin, and how the various price projections arise from that.

But that's all speculation of course - crystal ball type of stuff. But when JP Morgan gives a fixed price projection long term, that's more of a big deal, and at least something worth looking into.

[xraygoggles]

Not really a maximalist. I just haven’t figured out how ETH adds anything long term. I think it is a very good scam that is riding the coat tails of BTC. I’m probably wrong. I do think the returns are likely to be very good in the short term for ETH. But I can’t get behind it for the long term. At this point in my career I invest pretty large numbers for the long term based on my asset allocation tolerance. A BTC/ETH/DEFi portfolio may well outperform my BTC only allocation over the next year.

I agree its more speculative than Bitcoin (any coin below Bitcoin is technically called an altcoin). But I wouldn't say its a scam: that implies it doesn't do what it's supposed to, or has any value. Bitcoin is much easier to understand: it's just a fixed amount of digital currency, on the blockchain and decentralized. Ethereum is both a platform for developing all sorts of decentralized applications and smart contracts, as well as the currency (ether) that is used on the blockchain to perform the transactions.

I agree with you that short term, DeFi/Eth will likely have higher returns, simply because they are both more speculative and have lower market caps. Long term, Btc has a better chance to succeed. However, if Bitcoin becomes the norm, I would be very surprised if Eth wasn't right there as well...

[jacoavlu]

What does that mean. That’s OK I’m enjoying this robinhood app. It’s fun.

one view would be, you don't really own bitcoin, rather you own a promise of bitcoin

[fatlittlepig]

one view would be, you don't really own bitcoin, rather you own a promise of bitcoin

Whatever. I’m not messing around with digital wallets and passwords. Robinhood makes it easy.

[jacoavlu]

What does that mean. That’s OK I’m enjoying this robinhood app. It’s fun.

bitcoin is a bearer asset

analogy would be gold. Buy gold, hold in your hands, you own gold. Give it to someone. Now they own the gold.

If you buy gold but have some company hold your gold in a vault, along with a bunch of other people's gold, do you really own the gold? Some would view that as no.

[jacoavlu]

Whatever. I’m not messing around with digital wallets and passwords. Robinhood makes it easy.

call up Robinhood and tell them you want to withdraw your BTC. See what they say.

[fatlittlepig]

call up Robinhood and tell them you want to withdraw your BTC. See what they say.

I don’t want to withdraw it. Just want to be able to buy and sell, and transfer proceeds to my banking account if I choose to.

[CordMcNally]

You’ve almost got enough for a new Romex.

Edit: Looks like FLP learned from his last picture posting.

[TheQuietOne]

Just a FYI

https://markets.businessinsider.com/currencies/news/judge-orders-seizure-bitcoin-darknet-drug-dealers-2021-1-1029945618

[Tim]

bitcoin is a bearer asset

analogy would be gold. Buy gold, hold in your hands, you own gold. Give it to someone. Now they own the gold.

If you buy gold but have some company hold your gold in a vault, along with a bunch of other people's gold, do you really own the gold? Some would view that as no.

Sounds a lot like a bank. The bank holds dollars for me. Do I own them?

[CordMcNally]

Just a FYI

https://markets.businessinsider.com/...1-1-1029945618

That’s exactly what they do with cash and bank
accounts connected to criminal activity. No surprise there.