BITCOIN

[Deleted User]

That's sums it up.

masonic

Fingers crossed those pesky particle physicists don't create a new stable chemical element with superior properties to gold.

bugbyte_2

Gold has a point to its existence.

Struggling to think of the point of Justin Beiber, temporary traffic lights, bidets, Preston, 'Contains Nuts' warnings on packets of nuts, anyone called Boris, scatter cushions on beds, pet cats, any amphibian, bob hair cuts, webbed feet, Risotto, videos of people falling over, Manchester United, Manchester, people who say 'Mmmm' when they eat something, water divining, unprovoked cackling, people who say things such as 'that's a two person lift' when it clearly is not or it is very obvious it is a two person lift, some of my wife's friends, cheese swirls, things that should be squirrels but aren't, and..... you can probably see where this post is going.

HHarry

[Deleted User] said:

That's sums it up.

No, it really doesn’t.

slopemaster

bugbyte_2 said:

Gold has a point to its existence.

Struggling to think of the point of Justin Beiber, temporary traffic lights, bidets, Preston, 'Contains Nuts' warnings on packets of nuts, anyone called Boris, scatter cushions on beds, pet cats, any amphibian, bob hair cuts, webbed feet, Risotto, videos of people falling over, Manchester United, Manchester, people who say 'Mmmm' when they eat something, water divining, unprovoked cackling, people who say things such as 'that's a two person lift' when it clearly is not or it is very obvious it is a two person lift, some of my wife's friends, cheese swirls, things that should be squirrels but aren't, and..... you can probably see where this post is going.

I was with you until.... pet cats....how dare you?!

slopemaster

One problem with crypto which few mention is the problems involved in cashing it in to something you can actually spend.

(Unless you want to buy drugs or something.)

I had a small amount in BTC back in 2013. So 2 years back i had made a large % gain but still a fairly modest amount of money, and decided to cash it in.

First thing that happened was my Bitstamp account got frozen. It took me MORE THAN  A YEAR to get it unfrozen and get my money out. (Had to threaten court action as they weren't covered by the regulator.)

Guess what happened then - - - my bank (LLoyds, now my ex-bank) decided to freeze my account because the money came from BTC*, and it took me EXACTLY A YEAR (and going to the regulator) to get that unfrozen.

All this hassle for a profit in 4 figures.

Just for that reason alone, I will never touch crypto again.

*at the time, the bank denied that was the reason and gave me the standard anti-money-laundering script. But when it was finally unfrozen, they admitted that coming from Bitcoin was the trigger.

Futuristic

slopemaster said:

One problem with crypto which few mention is the problems involved in cashing it in to something you can actually spend.

(Unless you want to buy drugs or something.)

I had a small amount in BTC back in 2013. So 2 years back i had made a large % gain but still a fairly modest amount of money, and decided to cash it in.

First thing that happened was my Bitstamp account got frozen. It took me MORE THAN  A YEAR to get it unfrozen and get my money out. (Had to threaten court action as they weren't covered by the regulator.)

Guess what happened then - - - my bank (LLoyds, now my ex-bank) decided to freeze my account because the money came from BTC*, and it took me EXACTLY A YEAR (and going to the regulator) to get that unfrozen.

All this hassle for a profit in 4 figures.

Just for that reason alone, I will never touch crypto again.

*at the time, the bank denied that was the reason and gave me the standard anti-money-laundering script. But when it was finally unfrozen, they admitted that coming from Bitcoin was the trigger.

2 years ago there were hardly any fiat on/off ramps, today you can find them everywhere with <£1 fees (Binance/kraken/coinbase etc with near instant FPS withdrawals). There are also tons of crypto cards which you can sell crypto and then top up to (nexo / crypto.com / Coinbase etc) 

Banks are more aware of "crypto" now so whilst people may still get blocked its a lot easier explanation. 

Zola.

Yeah this just isn't an issue these days as long as you have KYC'd with the exchange and your bank isn't an overbearing parent about where you send your money. 

Zola.

https://www.youtube.com/watch?v=jkiNUycxugM

Decent conversation. (1:40 to skip ads)

Zola.

https://www.bitcoinlightning.com/federal-reserve-comments-on-lightning-network/