Bitcoin is still early

[fatlittlepig]

I don’t think you understand the definition of self custody in relation to BTC. My money is not on an exchange, therefore I am not dependent on them to custody my money. Mt. Gox is the “hack” you should research. If you do, you will realize why I self custody.

A “hack” of my Bitcoin would literally require the right software and someone holding me at gunpoint making me tell them my 24 word seed phrase. I would probably give it to them.

Of course electricity could also be completely shut down for the entire world. That would also limit my ability to access my Bitcoin.

isn’t there a higher risk of something going wrong on your end than something going wrong on their end.

[NapoleanDynamite]

If you got through Medical School...you can figure this out. I am not technologically inclined, and even I could do it.

If I die, my wife will have to find my seed phrase and get someone to help her with it but that is planned out. There are even a couple companies that will estate plan for you and secure your BTC beyond crazy secure. The security with these companies make banking look like an unlocked door to a mansion. Look up Casa or Unchained Capital...2 companies that can help if you need it.

[fatlittlepig]

I don’t know I would rather not deal with that. Kind of like gold I would rather not have to deal with the physical stuff and just buy the investment.

[NapoleanDynamite]

This is not directed at anyone in particular....but....the wealthiest man in the world is now a Bitcoiner. If you are not, maybe you should be asking yourself why.

[CordMcNally]

This is not directed at anyone in particular....but....the wealthiest man in the world is now a Bitcoiner. If you are not, maybe you should be asking yourself why.

The wealthiest man in the world has been married 3 times. If you haven't you should be asking yourself why. See how that isn't a great selling point, per say.

[chucki]

At some point Satoshi Nakamoto will likely become the wealthiest and most powerful man/woman/entity in the world.

[FreshPaint]

I got back in yesterday via Grayscale bitcoin ETF. ~10% of net worth. Looking to add real bitcoins again as well via Gemini.

I've been seeing so much positive sentiment towards bitcoin lately and it feels like more established names are joining in. Chamath Palihapitiya, Elon Musk, Ray Dalio, list goes on. If I'm wrong then at least I won't be alone.

[chrisg202]

I want to THANK @NapoleanDynamite for drawing my attention to cryoptocurrency.
I think what happened this week with GameStop is going to change investing FOVERVER and it will give a boost to decentralized platforms that uses blookchain technology...just a personal opinion.

[G]

The wealthiest man in the world has been married 3 times. If you haven't you should be asking yourself why. See how that isn't a great selling point, per say.

You can also ask why you might be so small minded to name your child Bob instead of X Æ A-12

It is interesting how his tweets can change valuation so drastically. I mean, Trump might be in the same ballpark. Fun thought experiment to wonder what might have happened if Jesus or Charles Manson had had twitter accounts.

Yep, I just put Jesus and Charles Manson in the same sentence.

[Dont_know_mind]

With the stories about mo and dad investors putting monthly amounts into crypto getting into the popular media, I think now would be a good time to regulate it.

Unfortunately regulation often occurs too late. Often after it ends in tears and the retail investors complain about losses and why no one told them.

The other amusing thing atm is how the crypto promoters are being portrayed as generous/intelligent/noble heroes.

I think it’s very tempting to buy a Bitcoin put, but not worth the frustration. There are easier ways to make a good return.

[fatlittlepig]

NapoleanDynamite what's your opinion on ETH, DOGE, LiteCoin

[CordMcNally]

NapoleanDynamite what's your opinion on ETH, DOGE, LiteCoin

Dogecoin is a literal meme. Can you make money on stupid things? Absolutely, but it's a meme and I would not consider it in the same arena as BTC or ETH.

[Kamban]

I've been seeing so much positive sentiment towards bitcoin lately and it feels like more established names are joining in. Chamath Palihapitiya, Elon Musk, Ray Dalio, list goes on. If I'm wrong then at least I won't be alone.

You may not be alone but can you afford to take losses like the others you mentioned. Even after taking a $5B loss, Elon might be the richest or second richest person in the world. The loss might be a drop in the bucket.

Could you afford to lose that $1 or 2M and still carry on. Or even 500K. If so, bet away in crypto. But using others to justify your investments in a risky venture is a bad idea.

[fatlittlepig]

You may not be alone but can you afford to take losses like the others you mentioned. Even after taking a $5B loss, Elon might be the richest or second richest person in the world. The loss might be a drop in the bucket.

Could you afford to lose that $1 or 2M and still carry on. Or even 500K. If so, bet away in crypto. But using others to justify your investments in a risky venture is a bad idea.

I have some invested and will hold on for 10 years and see what happens.

[Kamban]

I have some invested and will hold on for 10 years and see what happens.

Small amounts, play money - no problem. You win big - Yay. You lose - nothing much to worry as your other investments would have grown big

I am more concerned about people sinking 30%+ of the net worth into cryptocurrency or some middle income earners <100K per year sinking a significant chunk of their savings hoping to strike rich and catch up and erase poor savings decisions earlier on in life.