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bitcoins

900ss said:
How does one buy in to crypto? I understand there are many digital wallets. How would I go about dipping my toe in the crypto waters, and which wallet is reputable?

Total crypto newbie in case you haven't guessed. :rolleyes
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IMHO cashapp is the best option. Dorsey will never integrate any other "crypto" on his platform. The fees are low for buying and they cover the cost of the miner fee if you transfer. When you get an amount that you are uncomfortable with someone else holding for you, I would get a Ledger hardware wallet and move it so you can custody it yourself. Nano S is about $60.
Now there are other cheaper options but I think you should get a little more familiar with this before trying a decentralized exchange.
 
I want the price to stay low for a bit. I'm selling my house and moving up to norcal in a month. Once the house sells, 25% will go into bitcoin. I'll post that one up as well when it happens.
 
panthera said:
I want the price to stay low for a bit. I'm selling my house and moving up to norcal in a month. Once the house sells, 25% will go into bitcoin. I'll post that one up as well when it happens.
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I do see consistency in your faith. Time will tell if it's well placed.
 
Rumor has it that Amazon will accept Bitcoin later this year and is working on creating its own digital currency. Buy the rumor and sell the news if you are a trader. I am not. I will continue to accumulate.
 
To it's credit, Bitcoin went over $42k on 7/30.
Anybody who bought when it was down to 28's could have made a killing.
 
A cryptocrash could lead to a run on stablecoins, forcing issuers to dump their assets to make redemptions. In July Fitch, a rating agency, warned that a sudden mass redemption of tethers could “affect the stability of short-term credit markets”. Officials from America’s Securities and Exchange Commission and the Federal Reserve are paying closer attention to the risks from cryptocurrencies, and stablecoins in particular. - Economist 8/7/21

For Beijing, reining in tech’s tentacles in finance goes beyond just the lending operations. Ant’s Yu'e Bao, once the world’s biggest money-market fund, shrank nearly 20% in the June quarter. Other central banks will have to tackle a very similar challenge from stablecoins, blockchain-based tokens that mimic the value of fiat money. If Facebook Inc.-backed Diem, formerly known as Libra, takes off, these privately issued currencies could go from being a fringe asset for the crypto community to a “too-big-to-fail” repository of consumer wealth. - Bloomberg 8/5/21

The amount of stablecoins sloshing around the market ($$$$$$$$$$$$$$$$$) is going to really push this into regulation territory quickly boys & girls.
 
Man, I'm so bummed right now. My family has had some property in LA for about the last 80 years that they are now selling. My dad and uncle are looking to reinvest in commercial real estate, saying it's all for the next generation. I really want to ask them for my share in today dollars up front so I can YOLO it all into BTC. They just don't understand, even though my uncle is a savvy investor and the last 10 years of data showing a steady climb.

I told my dad that if he'd given me $100k last month I could have given him $150k back today and he just kind of shrugs it off.
 
Climber said:
To it's credit, Bitcoin went over $42k on 7/30.
Anybody who bought when it was down to 28's could have made a killing.
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I was going to bed when it hit 29k. I thought, cool, I'll let it drop the rest of the night and buy in the morning. Woke up and it was back to around 32, I think. Dangit!
 
CABilly said:
Man, I'm so bummed right now. My family has had some property in LA for about the last 80 years that they are now selling. My dad and uncle are looking to reinvest in commercial real estate, saying it's all for the next generation. I really want to ask them for my share in today dollars up front so I can YOLO it all into BTC. They just don't understand, even though my uncle is a savvy investor and the last 10 years of data showing a steady climb.

I told my dad that if he'd given me $100k last month I could have given him $150k back today and he just kind of shrugs it off.
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Ah yes, the prodigal son.
 
just keep swimming


crypto still needs a pretty big pull back

if you have some profits now, take a bit and be ready to put it back in.
 
scootergmc said:
Ah yes, the prodigal son.
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I've never factored an inheritance into any of my planning. Honestly I'd rather my parents spend what they have to be happy and healthy than try to save anything for me or my siblings.

But as an investment, it make sense to diversify, especially in something that is on the cusp of major adoption. We see lots of empty offices and other commercial buildings all over the place. And who knows, BTC could be replaced or made obsolete or regulated into irrelevance (at least in the US, where it feels like our leadership is perfectly OK with us falling behind in every sector outside the military-industrial complex). But it could also continue its upward trajectory and change the world. I'd like a piece of that action.
 
New ways for hackers to make $$$$$$$$$$$$$$.

$600 million gone: The biggest crypto theft in history
Washington (CNN Business)Hackers have stolen some $600 million in cryptocurrency from the decentralized finance platform Poly Network, in what it says is the largest theft in the industry's history.

A vulnerability in Poly Network allowed the thief to make off with the funds, the platform said Tuesday, begging the attacker to return the money.
"The amount of money you hacked is the biggest one in the defi history," Poly Network wrote in a letter to the attacker it posted to Twitter. "The money you stole are from tens of thousands of crypto community members... you should talk to us to work out a solution."
Poly Network urged other members of the cryptocurrency ecosystem to "blacklist" the assets coming from addresses used by the attacker to siphon away the funds — which included a mix of various coins including $33 million of Tether, according to Tether's CTO. (In a statement, Tether later said it froze the assets within 20 minutes of learning of the attack.) The cryptocurrency exchange Binance said it was "coordinating with all our security partners to actively help." Poly Network links together the blockchains of multiple virtual currencies to create interoperability among them.
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What recourse do the victims ((former) owners of crypto currency) have in this kind of case?
 
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