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Alright bitcoin/crypto nerds. Legit question here. Not poking fun. With the collapse of SVB and Signature bank potentially threatening the public’s feeling of security (yes I know the government has intervened to stop the run) do you feel more or less secure with your crypto positions?
 
H. Vachon said:
Alright bitcoin/crypto nerds. Legit question here. Not poking fun. With the collapse of SVB and Signature bank potentially threatening the public’s feeling of security (yes I know the government has intervened to stop the run) do you feel more or less secure with your crypto positions?
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Yes.
I believe Bitcoin is here to stay.
I also believe it isn't done with its wild swings.
 
H. Vachon said:
Alright bitcoin/crypto nerds. Legit question here. Not poking fun. With the collapse of SVB and Signature bank potentially threatening the public’s feeling of security (yes I know the government has intervened to stop the run) do you feel more or less secure with your crypto positions?
Click to expand...

Wasn't SVB heavily leveraged in crypto.. helping lead to its collapse? Thought I saw they're finding that to be a part of what happened.
 
Scap said:
Yes, but the supply is finite.
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So are a few of the other things mentioned. And like gold I predict that all of the BTC will not be mined. It is already incredibly expensive to mine. Then again, that prediction is after a few minutes of research.
 
Scap said:
Yes, but the supply is finite.
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Bitcoin is just a construct. There is nothing preventing the supply from being changed in the future. And if you tell me the construct prohibits altering the limit, there is nothing prohibiting the construct from itself being altered. That will likely never happen, but it is possible.
 
LarryH said:
So are a few of the other things mentioned. And like gold I predict that all of the BTC will not be mined. It is already incredibly expensive to mine. Then again, that prediction is after a few minutes of research.
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It's about $18k/coin for miners to break even.
 
lherzolite said:
Bitcoin is just a construct. There is nothing preventing the supply from being changed in the future. And if you tell me the construct prohibits altering the limit, there is nothing prohibiting the construct from itself being altered. That will likely never happen, but it is possible.
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The math is way above my compression.
 
Scap said:
The math is way above my compression.
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No kidding! The price may continue to make it profitable but the law of diminishing returns (if that’s a thing) suggests not. Anyway, I’ll be long gone before either outcome happens.
 
How Bitcoin Started. Bitcoin was the first cryptocurrency created and is now the most traded and well-known. It was first launched in January 2009 by a computer programmer or group of programmers under the pseudonym Satoshi Nakamoto, whose actual identity has never been verified. I just grabbed this from Google. The one thing that strikes me is lack of an actual owner, but in fairness, do we know who "owns" some of the other crypto offerings that are available? Why would the owner hide? Wealth? Hell, Zuckerberg, Buffet, Gates etc. don't hide.

SVB got bailed out because in the big picture it would hurt the world economy as can clearly we see on the Web and Wall Street. Those are tangible assets. Could that happen to BTC?, and, what would happen if it did?

Yes,I personally have a problem with something that is nothing more than 1's and 0's on a computer. The only thing I have is a secret code that tells me I own a piece of something I can not see or touch. It's like owning a piece of gravity, but at least gravity exercises it's power to let you know it's there.

Lastly, we all work so dam hard to get to our comfort levels and it takes time and doing without. Do you want to take that chance on invisibility in a product and a person or people who remain unknown at this point.

Ok brothers, hit me.
 
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Scap said:
Of course. The Federal Reserve/FDIC/Western Central Banks despise crypto.
Decentralized banking puts them out of business.
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Yeah thats what it feels like around policy makers especially if people are able to make these "smart contracts" loan out money they will be in genuine trouble
 
W
xyz123 said:
Wasn't SVB heavily leveraged in crypto.. helping lead to its collapse? Thought I saw they're finding that to be a part of what happened.
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The balance sheet i believe had some small holding of crypto but nothing to contribute to the collapse of the bank, I have heard it said that some banks have started to allocate very small portions of their. investment to crypto i believe they look at it as a heavily speculative asset
 
jmcigars1 said:
W

The balance sheet i believe had some small holding of crypto but nothing to contribute to the collapse of the bank, I have heard it said that some banks have started to allocate very small portions of their. investment to crypto i believe they look at it as a heavily speculative asset
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I'm curious how I balance sheet could show something that has no foundation?
 
H. Vachon said:
Alright bitcoin/crypto nerds. Legit question here. Not poking fun. With the collapse of SVB and Signature bank potentially threatening the public’s feeling of security (yes I know the government has intervened to stop the run) do you feel more or less secure with your crypto positions?
Click to expand...
Common sense would dictate that as banks suffer and collapse gold and crypto should go up in price as people logically will buy these assets to hedge against banks. However in reality and in theory any speculative asset (crypto being speculative) goes down with any economic downturn or news as people sell off large portions of thier "risky" assets and put them into other more secure things (government treasures) once crytpo gains sufficient moment and its price stabalizes for a long period of time it can be looked at as a low risk asset making it skyrocket in price with any financial turbulence but until then the answer should be "less secure"
 
CigarStone said:
I'm curious how I balance sheet could show something that has no foundation?
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speculative asset investment in essence investment in things with little to no foundation it is common as these things are either up by 1000% or down by 1000% so they like taking the gamble, and invest what they feel like is pocket change. so they buy like to what is to us like 5 bucks and if it goes up great they made 50 bucks if it goes down they only lost 5
 
jmcigars1 said:
speculative asset investment in essence investment in things with little to no foundation it is common as these things are either up by 1000% or down by 1000% so they like taking the gamble, and invest what they feel like is pocket change. so they buy like to what is to us like 5 bucks and if it goes up great they made 50 bucks if it goes down they only lost 5
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Looks like you have become the new Kona. Psssssst, I have some awesome land in Florida, $2.2M.

I can't give you a deed, there is no record of our transaction, but you will love the property!

Do you have a boat?
 
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