Finally back in the game after getting burned in the Celsius nightmare. Made my first Bitcoin purchase since the nightmare and storing on a hardware wallet. Feels good to be back. Can't wait to grow this stack bigger again.
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I have already bought bitcoin with 1/6th of the fiat I received (and have taken custody of that bitcoin) and I am considering my options for the rest.
On the one hand price may go lower, and DCA may be the way. I have bought local tops with lump sum before.
On the other hand, if it shoots up to the 40Ks I will have FOMO and will most certainly end up buying the top.
I never intend on selling and I do not trade, BTC is my reserve asset. However 0.6 BTC beats 0.4 BTC (for example).
What would YOU do with the dirty fiat? ðŸ¤
I work in the industry and have recently heard a lot of distressing news about Paxful that I felt the right thing to do is share this information here to protect users still on this platform from getting rekt.
Some of you might know that Ray stepped down several months ago as CEO of Paxful. He is the person I think was really looking out for the best interest of the users on this site, making it a place we've come to trust. Well today I noticed they have removed their reserve funds amount from their status page on their website. Seeing as I have also seen tweets from employees that have said they have not been paid their final payments after being let go (here is one https://twitter.com/ShuliTaleol/status/1671076390337146881), their send outs aren't working properly, their lightning wallet recently went down, and I have heard rumors of them dipping into customer funds to pay due balances as they are likely going bankrupt...
This is another FTX situation in the making and I would STRONGLY ENCOURAGE anyone with funds still on Paxful to IMMEDIATELY MOVE THEM OFF THE PLATFORM before you can't anymore.
Don't say you weren't warned.
Millions and billions trillions have to many zeros. Hard to see the rarity in the usual phrase there are only 21 million bitcoin for 8 billion people.
But If we remove some zeros, 21,000,000 vs 8,000,000,000, you'll see just how scarce bitcoin is. 21 bitcoins for 8000 people.
I dunno about you, but in my mind the supply is already GONE. Consider the fact that 19 BTC are already in circulation and you get... 3 bitcoin for ~8000 people. We are all not ready for the incoming supply shock.
Am curious to see what everyone thinks is the proper amount to have stashed away for later, how much and in what vehicle, either in a traditional IRA, a Roth or even just in a secure waller. Also at what time intervals, like if I was retiring noe would want to have quite a few whole coins in there, but as the years go by that may not always be the case, to the point that in say 30 years BTC value would be enough that 0.1 BTC in a tax free account may be enough to live comfortably on, by todays retirement metrics. Any ideas on the milestones for this, barring 'Wen moon?'
I was chatting in another sub about investing etc and this was an answer from a user in the UK. ----
The poster said they were looking at medium risk investing. You could probably just equate Bitcoin to ‘ultra omega risk’ and invest in the same way. The key difference is Bitcoin can actually have other detrimental effects. For example my mortgage provided does not allow crypto transactions in any of your accounts. If you trade in crypto in any way, you are disqualified. They won’t all be like this but for me it would have meant getting a slightly worse rate.
----- This level of interference is incredible! They will allow you to gamble everything away in an online casino or on alcohol but do not dare to touch crypto, including bitcoin.
Buy Bitcoin from CashApp: Because of low fees
ColdCard is the best Hardware Wallet
Does this sound right?
I have always thought that the most precious and unique feature of Bitcoin relative to altcoins is the complete lack of a single entity behind BTC. This is different from altcoins where one can see founders, foundations etc. Would you agree that this is Bitcoin's strongest asset or do you see another feature of Bitcoin as being more important and unique?
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