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Quote:
Originally Posted by tabs View Post
Bitcoin has no legs.

If the Grid goes down..

People wana see it and touch it..gold and silver. Thats human.nature..

I can hear it now..but but but..and that is all bs..you can not escape from who you are nor your history.
Right - because the US dollar is on the gold standard.
If your greenbacks are worthless box them up and send them over, Iíll find a use for them. Ditto for your crypto - unless itís Ripple. Thatís still a bit toxic IMO, so you can keep it.

Old 01-07-2021, 07:50 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #41 (permalink)
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Quote:
Originally Posted by Alan A View Post
Read the prospectus for GBTC and what itís actually worth.
I used to have a *lot* of it last go around, so Iím passing familiar with the stuff.

IMO unless you need to use your broker you are better off holding the actual crypto.
Where do you recommend purchasing Bitcoin from? The Vanguard stock gives me some peace of mind I guess.
Old 01-07-2021, 09:01 PM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #42 (permalink)
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Just bought some. Letís see what it does...
Old 01-07-2021, 09:13 PM
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Blast from the past from 2010, guy shows you how to buy bitcoin with paypal by purchasing 10 bitcoin for $30:

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Old 01-07-2021, 09:18 PM
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Have to say, I'm pretty happy with LTCN, which I bought approximately 2 months ago.

Just checked on it this AM.

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Old 01-08-2021, 06:05 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #45 (permalink)
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Originally Posted by dan79brooklyn View Post
Where do you recommend purchasing Bitcoin from? The Vanguard stock gives me some peace of mind I guess.
I used to use Coinbase for the big 3 and Bittrex for the rest until they stopped trading in NY. Now its just Coinbase.

But I also don't have a lot of crypto holdings any more and I'm kicking myself for not hanging on to all of them.
Old 01-08-2021, 07:22 AM
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I used the Robinhood trading app.
Old 01-08-2021, 07:37 AM
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Quote:
Originally Posted by tabs View Post
Bitcoin has no legs.

If the Grid goes down..

People wana see it and touch it..gold and silver. Thats human.nature..

I can hear it now..but but but..and that is all bs..you can not escape from who you are nor your history.

lol.....what an old mans point of view that is. Clearly you have no idea what the real world is like now. Living in the past. My adult kids, and most kids these days, never even touch real cash. They do all their transactions electronically. They use apps on their phones and internet banking. Get with it old man.
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Old 01-08-2021, 12:48 PM
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So how many of you in here willing to sell parts to receive crypto as payment?

I am glad we are talking about bitcoin here. I am a HODL'er and a miner.
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Old 01-09-2021, 08:03 AM
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How do you short bitcoin? Is it even possible?
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Old 01-09-2021, 08:22 AM
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https://99bitcoins.com/short-sell-bitcoin/#:~:text=To%20short%20Bitcoins%2C%20you%20need,an% 20equal%20number%20of%20Bitcoins.
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Old 01-09-2021, 08:30 AM
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A bunch of crypto currencys rather than one main standard does bother me.
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Old 01-09-2021, 09:30 AM
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Unstable and intangible, that's it's down fall. Great for day trading because of it's volatility. However, gold and sliver have a history on the periodic chart, bitcoin not so much. It will be killed by regulation in the end. It's a bubble, just like tulips.

Last edited by Black968; 01-09-2021 at 10:52 AM..
Old 01-09-2021, 10:50 AM
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Originally Posted by Black968 View Post
Unstable and intangible, that's it's down fall. Great for day trading because of it's volatility. However, gold and sliver have a history on the periodic chart, bitcoin not so much. It will be killed by regulation in the end. It's a bubble, just like tulips.
Heard that the last time it went up.
And the time before.

If itís a bubble itís quite resilient to bursting.
Old 01-09-2021, 02:51 PM
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Originally Posted by kinein View Post
So how many of you in here willing to sell parts to receive crypto as payment?

I am glad we are talking about bitcoin here. I am a HODL'er and a miner.
I was going to accept Bitcoin as payment for a car 8 months ago. AU$8500 in BTC. Buyer changed his mind at the last minute and just transferred normal credit to my account. Be worth a hell of lot more now. Bugga!
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Old 01-09-2021, 03:24 PM
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Quote:
Originally Posted by Alan A View Post
Read the prospectus for GBTC and what itís actually worth.
I used to have a *lot* of it last go around, so Iím passing familiar with the stuff.

IMO unless you need to use your broker you are better off holding the actual crypto.
https://ycharts.com/companies/GBTC/discount_or_premium_to_nav
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Old 01-09-2021, 04:56 PM
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GBTC is backed by real Bitcoin.
Each one is worth 0.00095028 BTC.
And they charge a fee of 2% that reduces this value each year.

So while it’s an asset backed security it’s worth a lot less than the asset that’s backing it. The premium when I had a lot of it was closer to 50% btw. When it was 19k GBTC was $33. I’d be pissed if I’d held it vs holding BTC.

It’s relative value -IMO- dropped as it became easier to transfer cash into crypto wallets - I was constrained to 10k a week into Coinbase - 1/2 a Bitcoin then and I had to jump through hoops to get it that high. I could buy GBTC through my trading account up to the cleared cash I had in hand.

Edit: had to go check. Coinbase will let me transfer 50k a day from my bank or 250k a day through a wire transfer. Personally unless you are buying in an IRA I’d hold the asset.

Last edited by Alan A; 01-09-2021 at 08:49 PM..
Old 01-09-2021, 08:43 PM
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Quote:
Originally Posted by Alan A View Post
Coinbase will let me transfer 50k a day from my bank or 250k a day through a wire transfer. Personally unless you are buying in an IRA I’d hold the asset.
You should be concerned about the reverse.
Have you ever actually withdrawn USD from Coinbase?
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Last edited by sugarwood; 01-10-2021 at 10:17 AM..
Old 01-10-2021, 09:39 AM
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Quote:
Originally Posted by sugarwood View Post
You should be concerned about the reverse.
Have you ever actually withdrawn USD from Coinbase?
Dozens of times, usually faster than other bank transfers, and WAY faster than Paypal.
Old 01-10-2021, 10:26 AM
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Old 01-10-2021, 10:29 AM
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