You should never take any loans to invest in anything because if your investment goes down in value you are losing money both ways with the principal invested plus the interest.

Borrowing money should only be used to purchase goods like homes or cars, not for speculation. Many had done this and they are in a bad financial situation. Plus there is no guarantee that Bitcoin will go up 2 years from now, so why risk it. Horrible idea.

I am not too technical on this but isn’t the public key exposed anyways as soon as you send a transaction? And people reuse addresses all the time even exchanges keep billions in there and reuse the addresses.

From what I remember the public key isn’t hashed as the wallet addresses so if in the future there was some exploit, you might be a target but this is highly unlikely. And if it happened then many would be in trouble, especially exchanges.

I think Elon musk is the reason why all these layoffs are happening. He fired like 75% of all twitter employees and the company is still functional.

So many businesses are also taking this approach. They made a plan many months ago about how to restructure and survive and now they are laying people off. Also the stock holders will be happy because less employees means more profits and higher stock price.

This will be my third halving. I remember the second halving very well, I actually remeber where I was and checking the block explorer.

After the block passed it looked strange not seeing 25btc rewards anymore but 12.5btc instead. And then I remeber the 3rd halving having many parties around the world. It was I think during Covid so the turnout wasn’t as big but people will celebrated it like it was some big competition.

Wonder how crazy this upcoming halving will be.

The reason why they banned it years ago was due to too much fraud. It was mostly ICOs which were all scams. Or it was some phishing sites like a fake coinbase or Gemini website which looked like the real one. They didn’t want to deal with it, so they just banned them off.

The etfs will be fine but it’s the other products which can become scams and they might change this decision again in the future. Look at twitter.  Nothing but scam phishing ads there all day with fake airdrops just to get you to connect your Metamask and steal your funds.

Well we are like $1K or so away from $45K so the odds are in the favor of hitting $45K instead of $35K at the moment. I think we will see $45-46K but hopefully it doesn’t close as a wick when this week or next week ends.

Usually when the local top peaks there is a retest which comes close to the prior high and it fails and that is when usually the bears come out and it marks a failed high and reverses from there. Hopefully that won’t be the case here.

Todays the flows from GBTC were only like $190M or so and fidelity already matched that it inflows, so it will be a positive day today for sure with the flows. And you can see that looking at the price. We almost hit $44K after the markets closed. And we were at $39K a few days ago.

So with the outflows slowing it’s looking good for bitcoin and hopefully we retest the yearly highs. The stock market is also doing good with the sp500 hitting new highs almost everyday, seems everyone is bullish on the upcoming fed rate cuts due to the pivot.

You must be mistaken because is just a wallet to store your crypto, whether online or offline. It has nothing to do with processing payments for goods and services.

There are products such as copay, bitpay, coinbase where if you run an e commerce website you can accept Bitcoin payments. What happens is as soon as you get paid it’s automatically converted into fiat and you can withdraw that. You don’t deal with bitcoin directly and you don’t need to worry about price fluctuations.

It would of been good if they approved all the etfs except GBTC. Reason why is because when it converted to an etf, the shares were unlocked with the bitcoins and the outflows started to happen.

Since they kept their fees very high, many people left for the other etfs. But the bigger issue is companies like Ftx selling the shares they bought years ago at a deep discount. This leads to the decline in bitcoins price and will continue until people are done selling GBTC.

I think when it comes to ETH L2 then ARB is the number one choice due to the sheer volume of transaction and actual trading for all the different platforms out there.

Most people trust it more than some of the other layers like polygon or zksync. I use it from time to time. Fees are much much cheaper than ETH itself however they could be even cheaper.

Polygon network I think i paid less than half a penny for a simple transaction, on arb it’s never that cheap. It’s around 10-20 cents last time I checked.

There might be an ETH etf but I am pretty sure there will not be a ltc etf. Sure it’s similar to bitcoin and all but nobody really uses it anymore. It was more popular during 2017 when people used it due to smaller fees but now people moved on to ETH l2 solutions.

So even if it was totally possible to have an ltc etf, most likely there will be no demand for it and it would just close down. The ETH etf is the only non-bitcoin crypto I can see that actually gets a spot etf going.

I think what he is referring to is what collateral to use for trading futures. I guess he doesn’t want to use bitcoin or Ethereum as his collateral because the underlying could go down in value and he will lose his initial investment.

Basically most futures and derivatives in crypto are mostly USDT collaterized. Back with Bitmex we were stuck with holding bitcoin as our margin but now you can do this with stablecoins pretty much.

News just came out for the Evergrande liquidation. The stock is down 20% and it’s halted. Honestly I have no idea what this means since we have been hearing about Evergrande since 2021 pretty much.

From what I understand they took peoples money from preorders and used that money to build more projects but when they ran out of buyers for their latter projects it’s when all these problems started to happen. They basically overleveraged and couldn’t sell anything.

How this affects the rest of the world and USA I don’t know.

From what I read the outflows from GBTC were like $250M but so were the inflows, so it was a flat day. What was interesting was the volume was much higher for iBit compared to GBTC relative to the past, so maybe that’s why it was a bullish day.

We had a good weekly close and we might make an attempt at the yearly high this week or next. Hopefully we went up closing over $50K and GBTC is finally done selling.

Keep in mind most of those “free sms” apps or those text services do not allow text verification messages. They are generally only for actual texting back and forth. I know because I had to make an Apple account and found out you cannot do it without using an actual cell phone number.

Your best bet is to just buy some prepaid SIM card and like $10 of airtime and use that for verification. Because I am pretty sure none of those free services will work for what you are actually trying to do.

Unless you already have an approved KYC account at some exchange then it will be difficult doing it in 4 hours. Usually it takes a few days to get your account approved after submitting KYC.

Your only option is going to a bitcoin ATM in your city or do some P2P with another individual in your city. The latter can take more than 4 hour however since not everyone is available right away, so your best bet is just to go to a bitcoin ATM. Usually the fees are high like 10% but they are convenient because they are automated.

Since the etf was approved all eyes are going to be on the halving. Usually a few months after the halving there is a huge pump and breaks ath. Most are expecting the same cycle here.

Also what matters is the inflows and outflows to the etfs. So far GBTC has had huge outflows and most days it outnumbered the inflows from the other etfs. So if we still it slowing then it’s a sign that it might bottom out. However they have still like $20B left to sell so who knows when that will be.

It’s hard to say how crypto will respond. Remember what happened during Covid.

Stocks were crashing and so was crypto. It wasn’t until stocks reversed trend and they started to be correlated. So if there is a big crash, crypto should follow stocks and decline.

But if the dollar is devalued then obviously stocks and crypto should pump. However who knows when this will happen. US economy now is very strong and job market is also strong. Since this is happening we won’t get a recession anytime soon.

Yeah 42coin, sounds familar. Is that the coin with max supply 42 coins and it basically traded in small fractions. Something like 0.0000020 was worth like $10. This coin traded for years I remember. Pretty sure it was just a clone of Litecoin and nothing more with an extremely small supply.

Yeah cryptsy. I knew things were bad for that exchange when they had good arb opportunities. Only you later learned that you couldn’t withdraw certain coins. So people would sell their good coins like bitcoin at a huge loss only to withdraw with an alt coin which still had some supply in its hot wallet.

Is this the exchange where the owner was in jail and before he went to jailed he filled up his hot wallets and when they were empty some one had to visit him so he could refill them from their cold storage?

Most likely these coins will be auctioned off like in the past. They won’t be sold on the open market. The way it works you can tell how much demand there will be based on the bids that are placed.

I remember back in 2014 or 2015 there was tons of bids for those bitcoins and they payed well over market for them, which indicated that we were in a strong bull market.