If they had control over Bitcoin they would not be taking measures like this.
(twitter.com)
😷 DEM PANIC 💉
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Who owns the exchanges? Good luck getting your money off or moving it into and out of exchanges. Most holders don’t even use cold storage. When all the usual Hollywood fuck tard shills are telling us to buy BTC and cryptos I knew it was the sign to be very careful. Physical gold and silver is the safe investment. One of the purposes of crypto could be to keep fleeing fiat money from running to gold and silver. Plus they can issue in the CBDC’s easier with crypto sheep on board
If you don't use cold storage then basically you're an idiot...And Not everyone is that stupid to keep their assets on an exchange unless they want to sell/trade...
The transfer is available publicly. I've never understood how you're able to "store" crypto on a cold wallet. Is it similar to storing documents on a flash drive?
Yes exactly. Look up the Nano ledger X for example. I look at it like money in the bank. Does the bank really have all our funds if we went to withdrawal? No they don't and God knows what they do with it all. There was a thread last year on the increasing number of large BTC wallets that were pulling their bags off the exchanges to cold storage which tells us all we need to know.
Unfortunately the whole crypto space is confusing and even more confusing/time consuming when you use cold storage. Most will just leave their funds on Coinbase etc... and think their money is safe.
Okay so if you need to sell, trade or buy then you have to use exchanges. I know there will always be ways around it for people like us who spend the time to research but 99% of crypto holders have no clue how dirty Coinbase and the other exchanges are and will become. They could make it very hard to use if they choose.
Physical gold and silver is not an investment. IF you do look at it that way, then you've owned a terrible investment per the chart of where Gold has been the past decade. You've lost a whole lot of money fren.
But hey, apples to apples fren...
Physical metals = cold storage
Paper metals = exchanges / 3rd party custodian (ala IOU)
C/mon man!
And lastly, one has to separate BTC from all other crypto.
Are you serious? We are living in a time where our governments can close down our small businesses yet let Amazon and Walmart flourish, raise taxes, print countless USD, freeze GoFundMe donations if they don't agree with the views and now Canada straight up freezing bank accounts and trying to freeze BTC/crypto wallets. But hey a digital currency is safe and reliable!! Physical Gold and Silver have been used as a storage of wealth for centuries.
Btw all the usual scumbags are pumping crypto in posts and commercials to the public and telling us to get in. Am I really suppose to believe they give a fuck about me? Their puppet masters want a cashless society for obvious reasons and if you can't see that you are blind. BTC is great if used for it's intended purpose but unfortunately we will in a world of greed and lust for control and power.
They are all just making money. That doesn't invalidate BTC as a currency.
But governments around the world working together to stop and outlaw its use would.
Since it's not a physical object, they could confiscate all cold storage, outlaw exchanges and then it wouldn't be a viable currency because you wouldn't be able to actually trade it for goods.
Not sure what you're getting at but my point still stands...
Gold as an investment -- you have lost a lot of purchasing power investing in Gold... don't take my word for it, look at the data and performance returns, that's my point. So your stored wealth has lost it's 'wealth' over time, it's an objective view. As the USD debases over time due to inflation (the Fed numbers are bs btw) your wealth has decline in purchasing power. You would've made more with real estate, stocks. Remember that you're denominating Gold's value in USD.
Apples to apples -- Gov can freeze your gold account at a 3rd party custodian - if you won paper gold, or store physical metal in someone else's vault. Same with any custodial crypto wallet, or your Bank account.
The point is to self-custody, meaning you hold your own gold, physically... likewise with Bitcoin, you move it to Cold Storage, where you and only you own the private key.
You need to do your own research on cryptos, and not follow the herd/hype. I could say the same about the usual scumbags pumping Gold and precious metals.
Seems like your outlook of the future is total anarchy, where we will fall back into some barter society where golds is the only thing people want to use as a medium of exchange :)
Q did state not to worry no?
C'mon man!
I've never understood how something that is not currently accepted for transactions could be a good investment, quite frankly. We're not exactly sure what's coming, but 10-12 years ago, what intrinsic value would gold and silver really have had?
There is some form a mental short circuitry I see on the boards especially with the gold bugs. There is this odd running narrative -- I would go so far to say it's a lie -- that gold is THE store of wealth, which is clearly not true.
In fact, the wealth has been eroding for decades now due to the power of the Fed money printer and inflation. The unit of measure, USD, is where all the manipulation happens... so in the darkness of night, without a sound, the gov slices your 'value' away :)
re: Transactions -- this is more so an agreement between parties. Today you and I could agree to trade using Gold. The problem arises when the thing I want requires a huge rock of it, or some fractional amount.
We've already been through this play during the Roman empire. e.g. the silver in the coins were slowly 'debased' so at some point there was hardly any silver left in it.
That's another thing, what if I feel gold is near worthless, but you believe it's the best thing since sliced bread, and therefore worth a lot?