I use Jaxx Liberty on my phone, some paper wallets in my safe, and some very small amunts in the exchanges, binance, coinbase, cex.io & localbitcoins. Definitely not all in the same basket.
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Have you met the government(s)? They ARE the bad actors!
I’ll just leave these links from an excellent interview between Dave Lee (a Bitcoin skeptic) & Yassine Elmandjra (an analyst with ARK Invest covering Bitcoin, Crypto and Blockchain technologies).
- BTC’s main value proposition is eliminating optionality of human decision Bitcoin Risks: Chat with ARK Invest's Yassine Elmandjra (Ep. 199) - YouTube
- The profound nature of BTC Bitcoin Risks: Chat with ARK Invest's Yassine Elmandjra (Ep. 199) - YouTube
foolhardy… unless I am indeed not investing money I can’t afford to lose - I’ve just borrowed it & am paying it off, just like I did when I bought my car. In fact, I just replaced my car finance payments with cryptoinvestment loan payments, when my car finance ended.
Why not just buy crypto on a recurring purchase instead, that way you’re not being charged interest and you get to benefit from a dollar cost average style effect
There’s no need for kid gloves!
I’m actually quite comfortable with the debt, which will be paid off in a set timescale. The reality is that I am not rich & don’t have access to family money or financial support, so I can only be crafty with OPM, with the goal of accruing wealth for myself & paying back the loan early, isn’t part of my plan.
Anyone have any thoughts on best bitcoin/crypto proxy available within an ISA?
Thinking of selling some of my actual Bitcoin and moving the proceeds into an ISA but keeping it bitcoin/crypto-exposed in some way.
It’s much easier to invest in the companies that develop the tech for crypto instead, like Riot Blockchain and Canaan Creative (both available on Freetrade). Secondary exposure, but they’ve done very well with the growth of mining.
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Pretty much, also the massive volatility and having to convert each £1 to 0.000025 (at the time of writing) for any given transaction.
Also that it only seems to be computer component sellers (that sell mining hardware) and ahem…skin sites that currently accept it. At least, without using a TOR browser.
Oh, and the lack of any intrinsic value. At least with gold or silver it can still be used in manufacturing. With bitcoin a bunch of nerds decided it was worth “this much”, but it isn’t, is it. It isn’t really worth anything.
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Yeah, that’s the sort of thing I meant by proxy.
Shares in Nvidia and/or AMD? Probably better to buy the means of production than the end result. Nvidia and AMD are useful for other things beyond crypto as well too. You’ll get exposure to both in a good index fund, mind.
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Card manufacturers are stepping up quite quickly, probably because their major customers are getting fed up of the lack of available GPUs…
Yes, they’re limiting it on the 3060, but separately they are happy to sell you a mining card --basically a 3060 without display ports on the back.
There’s an interesting comparison of Tesla and Toyota by Triodos Bank here
I wonder if Tesla getting into Bitcoin will turn out to be a terrible mistake
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Could shorten it to the above and would still hold true.
also
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I expect this to be an unpopular opinion, but whether I (or you) use Bitcoin or not, it is still going to be mined. There is a finite number of Bitcoin. It is not a reason for an individual to stop trading/buying/using it. It will still be mined and still be bad for the environment. Regarding that Tweet, it doesn’t matter how much attention is put on it, the end result will still be the same surely as it is decentralised?
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Please can someone ELI5…
If there is a finite amount of them, why are they still being mined? I thought mined was them being created as such, which you could do yourself if you had the technology/know how, but if there’s a limit, why is this still happening?
Bitcoin isn’t actually created through mining. When you mine, you hand over quite a lot of GPU/CPU power in your computer to the decentralised network to help compute each and every transaction which forms the blockchain. In return for contributing your processing to help keep the blockchain correct & stable, you are given a small amount of existing Bitcoin (aka, you receive a little payment)
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I believe there are 21 million Bitcoin and I think somewhere between 18 and 19 million are in circulation so far.
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Staggering. At today’s current price of £45,300 per Bitcoin, that’s £104,190,000,000 potentially up for grabs by mining or other non-circulation sources. No wonder the Chinese are going for it 
