Interesting Ask Me Anything with CJ Wilson for all you sports ball fans.
Don’t buy a Rolex unless you want a Rolex. It’s not an investment. It’s just a Beanie Baby for people with a little more money. People are desperate for scarce assets, but haven’t learned about Bitcoin yet. Unless your business literally prints money (banking), it makes more sense to just own BTC.
Bought a Rolex to my wife long time ago. Wouldn´t never buy it for myself. I thought about buying Sean Connery James Bond Rolex with the matching bracelet. But I always lose watches and sunglasses. So it would be a waste of money. I like real estate. I own a 4k watch. Dont remenber the brand. Which is broken. Don´t know where it is actually. People generally use fake watches. Rich people don´t actually wear real expensive watches. Once I was told there´s a place in Macau where they make incredible copies. If I would buy an expensive watch it would be Patek. For my kids to wear. But it´s stupid. Because I would lose it. Or they would lose it. Losing 20k watches. Would rather buy a garage.
I´ve google it and there´s seem to be some correlation. But the guy today was actually saying to wait. To make reservations. Not actually buying. It was fun though because he wasn´t those young turks who want to prove old mummies they are wrong about BTC. He was probably 50. And talking about BTC.
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I'll admit I spent way more than I wanted to on a watch, but there was no quartz alternative that had what I needed. I could have frankensteined a Seiko for much cheaper, I guess, but I was lazy.
The Rolex buying, house buying, and collector buying of today just shows me how early we still are in Bitcoin. All of those things are depreciating liabilities, in Bitcoin terms. Even a profitable business has to have an annual ROI of 50% per year to even come close to overcoming the hurdle rate of Bitcoin.
Rolex watches, cars, real estate
I Hear you...
On One Hand, Saifedean Ammous of the Bitcoin Standard promotes BTC as the future foundation of all Money (Currencies) (Think El Salvador now one of the world's safest havens for Bitcoin Mavens). Consider that ALL Fiat systems are eventually bid to Zero Zip Nada $0.00 to give their Govts a potential trading advantage over their trading partners in a slow race to the bottom, not to mention allowing the politicians in control to gain from a skim like the ancient Romans who were notorious for ever so slightly lowering the percentage of Gold in their Coinage until their Troops rebelled as they were disgusted at being cheated.
On the other hand the Wall Street Mega Bank Owners of the Fed know that the USD Fiat gig is up and is in its final Melt Up. Even they have been getting out of the dollar and buying Gold, Silver, and yes have created not one but 11 different BTC ETFs so they could give themselves and their clients and customers a way to diversify into competing ETFs to avoid a one single point of failure/fraudster like Freak-boy Sam Bankman Fried now negotiating how much Vaseline they give him to endure the Rump Riding Butt Blastings he now gets in Prison.
So - Vaseline rations are not appealing to the Jamie Dimon and Larry Fink and the other Wall Street mega bank (((((CEOs))))) who are the Fed's Owners and real bosses, so they phased in multiple BTC ETFs with full SEC approvals to spread the BTC wealth among themselves and customers with competitive BTC ETFs that are more likely to keep an eye on each other and keep each other honest especially with Hong Kong and Korea ROKs also legalizing new Asian BTC ETFs.
The idea being that this will strengthen the entire global BTC network and infrastructure insuring an alternative safe haven to provide a technical support foundation as the USA and G-7 Debt goes parabolic and blows up in their faces.
The real fight now is between Klaus Nazi Schvab WEFers and their BIS and IMF tools trying to force CBDC control currencies Communist Red China Style on the rest of the World which only promotes the worst of CBDC Control and monitoring of CBDC societies combined with the worst possible continued Zimbabwe style printing of FIAT as CBDCs are electronic unlimited Fiat currency.
I am not a big fan of either BTC or Gold ETFs because If not your Keys Not your Cryptos - and If you don't hold it you do not own it when it comes to Gold and Silver. This week in BTC looks like BTC making a Major Weekly Fractal Wave High (Blue are Major Fractals and Orange Waves the next lower fractal degree). At 73.8K BTC tagged the top of the Trend Channel and is now turning into a likely (most probably) .618 A-B-C retrace in 3 waves to the .618 target of 37.7K USD shaking out most of the weak hands in both the BTC and BTC ETF markets making for a clear Runway for the BTC post-halving Surge runway... see 2nd Chart below with Fibonacci Extension targets up from 1.618 through 4.618 as possible Post Halving surge targets given the past post halving Surges were to 20K then correcting, then surging to 70K correcting to 15K now surged to 73.8K Major Fractal 5 wave top currently correcting before the next Mega Surge... question is which Fibonacci Extension Ladder target UP???
First Surge was to $20K, next Surge was to $70K or 3.5 times the first surge so where is 3.5 times the second major surge? Do the math.
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I agree. I think people are making bets on the "system" lasting as they are pot committed in a sense with retirement vehicles such as 401ks, etc. That could be a huge mistake but a lot of it is dependent on age, I would say.
The rolex/car/yacht wealth signalling is beneath me. These things give fleeting joy and do not give me lasting happiness and btc is a better appreciating investment vehicle.
My worry right now is Grayscale customers continues to dump on us thanks to the 1.5% interest rate they refuse to change. Their idea is that their customers are prisoners because selling means paying capital gains that are 25% or higher so it is better to just keep paying 1.5%/year instead of switching to blackrock and paying 0.3%. I think customers will continue to leave for the next 2-3 months until btc hits 100k+ and then we will see more people dumping to get out.
I'm not sure what the next catalyst is to get btc to climb to 100-120k. Halfing might be having negligible effect. I think banks buying into btc might be the next thing. Crypto is doing well considering the stocks are not.
My worry right now is Grayscale customers continues to dump on us thanks to the 1.5% interest rate they refuse to change. Their idea is that their customers are prisoners because selling means paying capital gains that are 25% or higher so it is better to just keep paying 1.5%/year instead of switching to blackrock and paying 0.3%. I think customers will continue to leave for the next 2-3 months until btc hits 100k+ and then we will see more people dumping to get out.
I'm not sure what the next catalyst is to get btc to climb to 100-120k. Halfing might be having negligible effect. I think banks buying into btc might be the next thing. Crypto is doing well considering the stocks are not.
Its my first post on this thread, I dont know anything about bitcoin and crypto, I am very interested in learning and getting started, what should I do? Is there perhaps something I can watch or read that you guys recommend so I can grasp this topic a bit better. So one of the reasons I want to get into this is Im planning on setting up a website for a digital product that I would like to sell to other countries outside of my own and I was hoping (if this is possible) to have the sales go into some kind of a crypto currency account without going through my South African bank account.
I don't like the looks of this one bit.
JayR
Heritage
Samourai is the wallet Redbeard recommended in his thread for Bitcoin beginners, and is the wallet I use. It is currently showing my balance as "0 Bitcoin." Yikes.
I'm not panicking -- fairly certain I can recover my BTC using my seed phrase on another wallet. However, I would like to maintain my anonymity by sideloading the new wallet onto my device (i.e., avoid the Google Play Store and the Apple app store).
I checked out the Github page for Blue Wallet, but they don't appear to have any guides or instructions on how to install it, which I definitely need.
Can anybody recommend an Android Bitcoin wallet that offers a direct download (with install instructions)?
Blue Wallet is pretty good, I use it and its easy to connect to your node, does lightning too. Zeus is good for using your own node, especially lightning. Phoenix is another good one for lightning.
Samurai works fine still, just use your own node. This was always a risk that Samurai team acknowledged years ago. Connect your wallet to your own node, not theirs.
"By default, Samourai Wallet will connect to its centrally controlled Dojo hosted in Iceland. By hosting your own Samourai Server, you can bypass its servers completely when using Samourai Wallet or Sentinel, and gain total financial sovereignty without any complexity."
Looks like we are entering "and then they fight you" stage...
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The only firsthand experience I have is running my own node, which isn't for the novice. To do web payments, you would want to use a Lightning Service Provider, like Open Node https://opennode.com/
They handle all the hard stuff, like channels and liquidity, for a small fee (I think 0.5%-1%, don't quote me though). Still way cheaper than a CC processor.
"Get lightning-fast, low-cost bitcoin payments and payouts
for your business with our powerful API, ecommerce
plugins, or hosted payment pages."
Unless your product is hundreds of dollars, Lightning is the only thing that makes sense. The days of posting a bitcoin address for payment (unless its $1000) are over.
Now if you are just starting out, and aren't sure you will get much of anything, you can create a Lightning Address, that works functionally like having a BTC address, except you need a hosting provider (self hosting is possible, but beyond my reverse proxy networking skills)
Normally you need to create an invoice to receive a payment, unlike regular Bitcoin, where you can receive without first sending an invoice, but a Lightning Address eliminates the need to first send an invoice to receive payment.
If you want to learn about BTC and why its important, the first book I recommend is The Bitcoin Standard, by Saifedean Ammous
If podcasts are your thing, I recommend the 10 hour "Saylor Series" by Robert Breedlove
To learn how Phoenix wallet (lightning) works, BTC Sessions
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@GoodShepherd if you have any specific questions, go ahead. I will try to answer the best I can, but if you are just starting, there is an enormous amount to learn.
I’d suggest a cold storage option like tangem(or equivalent) if you have any real amount of crypto .
If you leave your coins on a hot wallet, it just seems super risky
If you leave your coins on a hot wallet, it just seems super risky
This is the issue with gambling and "things" that have no real world value that others control. Ultimately as a holder of BTC you have no control over your assets, so much can go so wrong, so fast. As seen here, you can just wake up one morning and have zero BTC in your "wallet." The government could regulate it or make it illegal, hackers can hack it, jews in the Bahamas can steal it, or there could be a cyber attack on the electric grid in which there is no access to the internet for days or weeks at a time. A whole host of unexpected problems can occur with a currency dependent on electricity and the internet.
If you would have bought a tractor, generator, or a 4x4 truck (tools of comfort and/or survival), they'd actually be at your house right now ready to be put to use at a time and place of your choosing.
Don't use an altcoin cold storage wallet, if you have a significant amount of BTC (10+) Use a Bitcoin only wallet that supports Taproot and native multisig, like a ColdCard. It is much more secure.