Bitcoin hits over 70,000 dollars now

I didn’t realize that, is there more than one? Or are you talking about Grayscale, which while an etf it was before any approval and has an exorbitant fee of 2%.

I own Fidelity’s FETH, almost everyone who issued Bitcoin ETF has one out for ethereum. Separately, I am trying to raise my Bitcoin allocation to 3%

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$25 million stolen in 12 seconds. Thankfully, authorities were able to freeze $3 million of it. That makes me feel all warm and fuzzy.

Hey, I sincerely wish investors the best of luck.

Just never felt safe or smart to little old conservative investor me.

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So that is bitcoin’s fault? Then explain to me all the bank robberies when you google “Bank Robberies”. Is that the fault of the U.S. dollar?

I only keep my cash in FDIC banks, under the limit, of course.

So feel free to rob my bank. :grin:

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You can keep your bitcoin in ETF’s. I understand how you feel, because I was on the other side, scared etc. My wife even bought a physical wallet but still I refused to do anything. For me, ETF’s helped me to invest.

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That is exactly how I feel King. I bought a wallet but never bought any until the ETF’s came out.

It’s all about risk and reward. Why steal pennies from your account when I can steal millions from a Bitcoin account? :rofl: :rofl:

Since when is that a reason to take him at his word? He tells everyone what they want to hear.

But I digress, a few targeted campaign donations from some very deep crypto pockets will likely keep this bipartisan.

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This is not about how you feel about Trump or Democrats. Set aside the politics, A major party Presidential candidate is embracing Bitcoin in a very public way, and Democrats hands are forced to embrace. This means Bitcoin is going completely mainstream.

You don’t even have to believe in Bitcoin to invest in it. Think of it as a momentum trade.

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This is crypto’s last hurrah.

Within five years quantum computing will break the blockchains.

In this case it is pretty safe to take him at his word. For all his fault’s he’s pretty good at reading the political winds. What he said was under his administration, the government wouldn’t sell Bitcoin.

Last month (or maybe this month) the German government sold off a bunch of Bitcoin that had been seized in criminal activity. This may have caused the price to drop (since recovered). This caused a full, four-alarm meltdown in the Bitcoin community who were freaked out the Germans were deflating their bags. Trump basically just said he wouldn’t do that, to the relief of many in the audience.

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Very poor, uninformed take. Bitcoin is a volatile asset and it moves.
Bitcoin market cap is $1.3 Trillion and Germany sold $3 billion worth of Bitcoin. It is not just Germany but the Mount Cox settlement released $8 B worth of Bitcoin and for the most folks the money is stuck in there for a very long time. So there is a bit of selling. Also Bitcoin moves along with Nasdaq, and if you haven’t noticed the Mag 7 shed $1.3 T :slight_smile: in the recent drawdown.

Hey! How did you find out how much I had in my bank account?

:rofl:

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Which one(s)? And does your wife know about ALL of them? Hmmmm…

I agree, this isn’t about parties. If this was some other pol saying it, I would be more inclined, but Trump always tells his audience what they want to hear. For example, he promised to a bunch of coal workers that he would bring back the coal industry:

If I win, we’re going to bring those miners back to work – you’re going to be so proud of your president and your country. You’re going to be back to better than ever before and that means all kinds of energy. We never want to be in a position like we were in before, where we were literally controlled by people.”

Coal jobs decreased under Trump.

He promised to get rid of the federal deficit in eight years:

https://www.washingtonpost.com/politics/in-turmoil-or-triumph-donald-trump-stands-alone/2016/04/02/8c0619b6-f8d6-11e5-a3ce-f06b5ba21f33_story.html

I have no idea how this may change the calculus for the Dems but there is absolutely no way I would take anything Trump says about crypto at face value. If he thinks it would be politically expedient (or personally profitable) to try and ban it, you had better believe he would - even if he previously said otherwise. He will simply deny that he ever said such.

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He also promised to release his taxes once he was elected! Promises are easy; but I’m believing the one where he says just vote in this election and I’ll fix everything and there won’t need to be any more elections.

JimA

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The “swipe fee” that the vendor adds to the sales price for credit card transactions is as high as 3%. Even for those that pay off their balance every month, that’s 3% per year (and yes, you may be able to get some of the swipe fee back with a cash-back credit card)

If Bitcoin was able to reduce or elimate the swipe-fee, and vendors were giving you a discount for using Bitcoin, that would be a “killer app”.

Also, if you’re retired and living off an investment portfolio, you’re periodically selling some of your undex funds for gas and food.

intercst

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image

Try paying in cash at Walmart and see if they discount your total cost by the swipe-fee - yet you seem to think Bitcoin would somehow be different. I fully expect it would be worse because unlike cash or credit, the only way the gas station can book that bitcoin payment is to pay a fee to convert it to cash - and all the while risk that the bitcoin will lose value in the interim.

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Can that even work, practically, for live transactions?

My understanding is that it can take about an hour for Bitcoin transactions to be processed - which makes direct payments with BTC pretty infeasible for in-person transactions like B&M retail. Online purchases are a different story, since a one-hour “hold” on the transaction for the payment to clear doesn’t cause as much friction.

Theoretically you could set up a credit-like system based on BTC - where there’s a financial services company that makes the consumer credit loan, just like a conventional credit card company, but where the loan period is only an hour or two instead of 30-45 days. But it’s hard to see how that would have lower swipe fees, because they’d have much of the same cost structure as a conventional credit card in terms of processing transactions but they wouldn’t be getting the sweet, sweet interest payments and late fees.

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