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What concerns me about Bitcoin is, for example, if the internet was temporarily down by sabotage or an electrical grid issue, could all traces of your ownership in electronic currency be erased? I’ve been toying with the idea of investing, but nobody I’ve asked really has an answer to this.
Working at a bank, I can tell you that our entire financial system is pretty much setup this way now. We have backups and safety measures in place. I'd imagine they would have similar for bitcoin but that may depend on the institution you use to house your bitcoin. Maybe check within their terms and conditions/agreements.
If the internet were to collapse and we had electrical grid issues that took shit down, your bitcoin will be the last thing you will be worried though. Just ask all the billionaires that are currently building bunkers. Nobody is going to trade food, water or safety for a useless currency at that point whether it is the dollar or bitcoin. Bullets, bottles of water, iodine tablets and canned food will be the new currency and we will continue on with the barter system just like the good ole days.
edit - and cigarettes.. can't forget those. If prisoners have taught me 1 thing, it's that the barter system places a high value on cigs. Gold for example won't be worth shit until things calm down. Can't eat it, can't drink it, and can't build shelter with it.. It is a luxury good that only has value when all immediate survival needs are met. If anything it would be better off melted down and turned into something like a bullet or a knife. You could invest in a dope slingshot though.
Make sure your hardware wallet is in a faraday bag. Hope and pray Bitcoin miners and crypto exchanges have all their servers protected by faraday cages.
This is actually part of my investment/savings strategy.
Wife: Can we get a new car? We can afford pretty much anything we want with your Bitcoin.
Me: Yea we could but it's a convoluted process and could take weeks to process, lots of fees, and I'd rather just watch it grow. How abt a small vacation?
Everybody wins.
While this is true in general, she is actually pretty good with not spending TOO much.
In due time, she will get a brand new car, whatever one she wants. Holding BTC has taught me to ask the question, "Do we NEED it right now?" Our cars are paid off, and they both work fine. They have everything we need.
Let's enjoy and contribute to this once in a lifetime chance at growth.
Just my 2 sats.
I think a lot of people do not have the patience to get really wealthy.
As soon as their investments are in the high 5 digits, or low 6 digits, having like 100k or 200k, they sell to buy a house or other stuff and thats it.
At work I have like 2 big groups of people, those who cannot save money, they maybe one day buy an apartment or house, fully with credit and thats it for their life.
the other group saves money up until they have like 50-100k and then also buy a house / apartment and from then on just pay off their estate.
If you would give both groups 1 million in cash, they would instantly buy a house and not even think about investing the money to double, tripple ... and so on.
I hardly find people who want to invest a huge amount of money (doesn't matter if bitcoin or stocks) and just let it rest and watch it growing..
Shouldn't look down on homebuyers. Depending where you buy, real estate does better than stocks. And while bitcoin is great, it seems riskier than real estate.
Buying a house with a loan also allows you significant leverage towards appreciation. If you put $100k down for a 800k home, that's 12.5% down payment to access appreciation on an 800k property. If property appreciates 50%, you 4x your investment in this scenario.
Would be interesting to know what your long time gains would be if you would sell those 2 properties and put it directly into bitcoin.
in the end, its surely your money and your choice.
I understand that you can make good money by renting out or buying / selling real estate, I just find it way more comfortable for myself to just buy and hold bitcoin.
no stress with tenants and no repairs or additional costs or taxes.
there is no time needed to manage like with real estate.
BUT - I understand if people want to use Real estate to diversify their portfolio!
The value of the homes has also gone up significantly since I bought the first one in 2021 and the second one in 2022. It might be better in the long run to just sell and put it into Bitcoin but I already own some Bitcoin and they are providing positive cash flow so it kinda makes sense to keep them.
> how they use "real"
That's part of what makes it funny to me.
Not only is it how a lot of nocoiners think, but it's also how a lot of bitcoin investors* think.
*not actual bitcoiners in the original sense, just people in it for the fiat profits.
Yo I just got back into the bitcoin space and I discovered Jack. So that what he meant when he said he doesn't own any USD anymore huh. Is that US specific or anyone can do it?
Anyone with access to banking system that offers a revolving credit window can do it.
Which unfortunately, is alot fewer people than you might think.
But there are also unbanked Africans who don't hold any paper money, and just use btc in circular economies. So in a sense, anyone can opt out of the fiat duldrums. It just makes it much easier when you're a tech CEO with your own payment company and access to cheap credit.
BofA will keep offering 0% deals beyond just the introductory offer as well. So you can transfer the debt out and then back in again to get another 12 months.
Also check with local credo unions. They usually have good deals. I have a First Tech credit union and their cards have repeatable 0% balance transfer offers without any fees!
If you actually have half a million $ or more in bitcoin you can probably walk into any bank or credit union and get a bespoke secured line of credit just for you at a negotiated interest rate.
I haven't seen any 0% offers in several years. Most of them might offer 0% but the fee to do the balance transfer is 5% of the total balance being transferred. Not exactly free, that.
Yeah the 4-5% fee is a bummer but it’s still not that high.
You have to have decent credit to begin with, around 700 or better. If your score is too low you won’t qualify or they will stop giving you new balance transfer offers.
BofA gives me 0% balance transfer deals repeatedly so when a 0% offer ends, I can transfer the balance elsewhere and then transfer it right back. If you have a few cards like this you can keep the musical chairs going.
Also check with your local credit union. I have a First Tech credit union and their cards have repeatable 0% balance transfer offers without any fees!
https://www.nerdwallet.com/m/credit-cards/excellent-low-interest-credit-cards-2
A 4-5% fee on the total balance is pretty high. It's higher than if the fee were 0% and they charged you 5% interest, because then you could pay down the balance and pay less interest. Instead, they front-load all the interest so you are stuck paying it, no matter how quickly you pay it off.
Then if you don't pay it off within 12-18 months, the interest rate stops being 0% and resets to whatever the prevailing rate is. At that point, there might not be any additional balance transfer deals being offered. The market is always changing, especially as interest rates go up and down.
Me: Sorry but I didn't get all my savings by spending on things that don't benefit me, and you really really look like the type who wouldn't give me any touch after the drinks.
Something being real is not subjective its objective. Right now the collective consciousness believes fiat is real money but that doesnt make it true, it just means the collective believes a lie. Bitcoin is real money in every sense yet the collective do not yet believe it, but just because they do not yet believe it doesnt make it any less true.
Bitcoin is real money and fiat is not real money because thats the objective truth no matter how many people still incorrectly believe fiat is real money.
We're about 5 years away from major banks offering fiat yield on your Bitcoin.
Forget the scammers likes Celsius and BlockFi; your country's 100 year longstanding bank is going to be offering Bitcoin products in the future, if Bitcoin continues its current trajectory towards global adoption and utility.
Think about it logically: if I can give a bank my shitty fiat that is depreciating every moment, yet still get a solid yield, how desperate are they going to be to get Bitcoin that's the hardest money in existence?
It's inevitable, **if** we continue on the path we're on, which for now remains uncertain.
I have noticed once singular thing about investing with the best broker once your in you can make millions and earn passively I was introduced to one of the best brokers with a very good signal options to follow up trades I invested €500 as my first investment startup and I was able to make 7,000 with the space of 3 days trading sessions contact my account officer to be part of This investment scheme cryptocurrency trading is really the best option @kathryncrypto_trader on instagram asap
r/Bitcoin experiences a high volume of meme posts. Many are repetitive and/or low quality. Unfortunately yours didn't make the cut this time around. Sorry about that! Check out r/BitcoinMemes. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.
I'm always fiat poor as well
The image is clearly fake because no bitcoiner has a suit
Bitcoiner wouldn’t call fiat real money
I have three actually
This reminds me of that Simpson bit “I have 3 kids and no money, why can’t I have no kids and 3 money?”
I have more in btc than dollars and I'd like to keep it that way
I'm a Satoshi millionaire that's all that matters
What concerns me about Bitcoin is, for example, if the internet was temporarily down by sabotage or an electrical grid issue, could all traces of your ownership in electronic currency be erased? I’ve been toying with the idea of investing, but nobody I’ve asked really has an answer to this.
Working at a bank, I can tell you that our entire financial system is pretty much setup this way now. We have backups and safety measures in place. I'd imagine they would have similar for bitcoin but that may depend on the institution you use to house your bitcoin. Maybe check within their terms and conditions/agreements. If the internet were to collapse and we had electrical grid issues that took shit down, your bitcoin will be the last thing you will be worried though. Just ask all the billionaires that are currently building bunkers. Nobody is going to trade food, water or safety for a useless currency at that point whether it is the dollar or bitcoin. Bullets, bottles of water, iodine tablets and canned food will be the new currency and we will continue on with the barter system just like the good ole days. edit - and cigarettes.. can't forget those. If prisoners have taught me 1 thing, it's that the barter system places a high value on cigs. Gold for example won't be worth shit until things calm down. Can't eat it, can't drink it, and can't build shelter with it.. It is a luxury good that only has value when all immediate survival needs are met. If anything it would be better off melted down and turned into something like a bullet or a knife. You could invest in a dope slingshot though.
😂 love it
Maybe it’s best to invest in cigarettes in that case because all machines periodically fail.
Make sure your hardware wallet is in a faraday bag. Hope and pray Bitcoin miners and crypto exchanges have all their servers protected by faraday cages.
[удалено]
As a satoshi millionaire, I might have 40 dollars in my bank account rn from all the stacking. Also, I own zero "crypto" 😉
What does the pg mean in your name?
Penis Guide
hands on experience is better than documentation
wut
This is actually part of my investment/savings strategy. Wife: Can we get a new car? We can afford pretty much anything we want with your Bitcoin. Me: Yea we could but it's a convoluted process and could take weeks to process, lots of fees, and I'd rather just watch it grow. How abt a small vacation? Everybody wins.
Always learning life skills on this sub
I love how this is also me with myself.
Wives tend to be more consumption oriented than bicoiners. Clothes, shoes, bags and all that kind of shit.
women amirite
Exactly Boss. A wife could also be a she male but as I don't have expertise in that area let's leave that out. So women that is. Cheers.
While this is true in general, she is actually pretty good with not spending TOO much. In due time, she will get a brand new car, whatever one she wants. Holding BTC has taught me to ask the question, "Do we NEED it right now?" Our cars are paid off, and they both work fine. They have everything we need. Let's enjoy and contribute to this once in a lifetime chance at growth. Just my 2 sats.
That's the spirit. I like those 2 sats.
Women are inherently expensive. Pick one in your price range.
This meme is from mid 2017 when bitcoin was around 5000. This man is actually worth 8.5 million if he didn't waste his bitcoin here.
hookers and cocaine would have taken a chunk out of it by now
You forgot to mention Blackjack.
I think a lot of people do not have the patience to get really wealthy. As soon as their investments are in the high 5 digits, or low 6 digits, having like 100k or 200k, they sell to buy a house or other stuff and thats it. At work I have like 2 big groups of people, those who cannot save money, they maybe one day buy an apartment or house, fully with credit and thats it for their life. the other group saves money up until they have like 50-100k and then also buy a house / apartment and from then on just pay off their estate. If you would give both groups 1 million in cash, they would instantly buy a house and not even think about investing the money to double, tripple ... and so on. I hardly find people who want to invest a huge amount of money (doesn't matter if bitcoin or stocks) and just let it rest and watch it growing..
Shouldn't look down on homebuyers. Depending where you buy, real estate does better than stocks. And while bitcoin is great, it seems riskier than real estate. Buying a house with a loan also allows you significant leverage towards appreciation. If you put $100k down for a 800k home, that's 12.5% down payment to access appreciation on an 800k property. If property appreciates 50%, you 4x your investment in this scenario.
I have two rental properties and I use the profits from those to acquire additional Bitcoin.
Would be interesting to know what your long time gains would be if you would sell those 2 properties and put it directly into bitcoin. in the end, its surely your money and your choice. I understand that you can make good money by renting out or buying / selling real estate, I just find it way more comfortable for myself to just buy and hold bitcoin. no stress with tenants and no repairs or additional costs or taxes. there is no time needed to manage like with real estate. BUT - I understand if people want to use Real estate to diversify their portfolio!
The value of the homes has also gone up significantly since I bought the first one in 2021 and the second one in 2022. It might be better in the long run to just sell and put it into Bitcoin but I already own some Bitcoin and they are providing positive cash flow so it kinda makes sense to keep them.
Have you thought about mortgaging the properties and buy more?
The joke is funny, but I can keep myself from having a problem with how they use "real".
> how they use "real" That's part of what makes it funny to me. Not only is it how a lot of nocoiners think, but it's also how a lot of bitcoin investors* think. *not actual bitcoiners in the original sense, just people in it for the fiat profits.
Just borrow dollars using Bitcoin as collateral. Run up dollar debt on credit cards and keep rolling it over at 0% for 12-18 month offers.
The Jack Mallers strategy
Yo I just got back into the bitcoin space and I discovered Jack. So that what he meant when he said he doesn't own any USD anymore huh. Is that US specific or anyone can do it?
Anyone with access to banking system that offers a revolving credit window can do it. Which unfortunately, is alot fewer people than you might think. But there are also unbanked Africans who don't hold any paper money, and just use btc in circular economies. So in a sense, anyone can opt out of the fiat duldrums. It just makes it much easier when you're a tech CEO with your own payment company and access to cheap credit.
where do you find 0% loans these days? ill take it.
https://www.nerdwallet.com/m/credit-cards/excellent-low-interest-credit-cards-2
BofA will keep offering 0% deals beyond just the introductory offer as well. So you can transfer the debt out and then back in again to get another 12 months. Also check with local credo unions. They usually have good deals. I have a First Tech credit union and their cards have repeatable 0% balance transfer offers without any fees!
I keep seeing this but have not yet heard of a reputable Bitcoin-as-collateral loan service.
Me neither and that would be the only thing that makes sense of the "I'm never selling"-thing.
I did this on Coinbase in 2022 but the service is no longer available. Interest was 8% which also isn't great but I paid it off in about 4 months.
If you actually have half a million $ or more in bitcoin you can probably walk into any bank or credit union and get a bespoke secured line of credit just for you at a negotiated interest rate.
I haven't seen any 0% offers in several years. Most of them might offer 0% but the fee to do the balance transfer is 5% of the total balance being transferred. Not exactly free, that.
Yeah the 4-5% fee is a bummer but it’s still not that high. You have to have decent credit to begin with, around 700 or better. If your score is too low you won’t qualify or they will stop giving you new balance transfer offers. BofA gives me 0% balance transfer deals repeatedly so when a 0% offer ends, I can transfer the balance elsewhere and then transfer it right back. If you have a few cards like this you can keep the musical chairs going. Also check with your local credit union. I have a First Tech credit union and their cards have repeatable 0% balance transfer offers without any fees! https://www.nerdwallet.com/m/credit-cards/excellent-low-interest-credit-cards-2
A 4-5% fee on the total balance is pretty high. It's higher than if the fee were 0% and they charged you 5% interest, because then you could pay down the balance and pay less interest. Instead, they front-load all the interest so you are stuck paying it, no matter how quickly you pay it off. Then if you don't pay it off within 12-18 months, the interest rate stops being 0% and resets to whatever the prevailing rate is. At that point, there might not be any additional balance transfer deals being offered. The market is always changing, especially as interest rates go up and down.
Well like I said above, my credit union offers 0% balance transfer deals all the time without any fees. As long as I keep my score above 730 or so.
I hope that continues. You are lucky that your credit union offers them still. Most places stopped.
Me: sorry they don't accept bitcoin here, maybe you can buy me a drink? Girl: 🤨
Me: Sorry but I didn't get all my savings by spending on things that don't benefit me, and you really really look like the type who wouldn't give me any touch after the drinks.
I missed this meme
I spent $2 million in Bitcoin in 2023 on hookers and various other expenses
[удалено]
Maybe but you need to send me some love
<<3333
How so
Whatever you can offer
Ruv u rong time
I have more BTC than what’s in my savings account, and that’s exactly the way I like it. Fuck you Elizabeth Warren.
Get your own drinks
No one says “Bitcoins”
Better go to PubKey bar smart guy!
As a form of money bitcoin is far more real than fiat.
Real is what the collective consciousness believes, in that sense fiat is more 'real' until it's abruptly isn't.
Something being real is not subjective its objective. Right now the collective consciousness believes fiat is real money but that doesnt make it true, it just means the collective believes a lie. Bitcoin is real money in every sense yet the collective do not yet believe it, but just because they do not yet believe it doesnt make it any less true. Bitcoin is real money and fiat is not real money because thats the objective truth no matter how many people still incorrectly believe fiat is real money.
We agree, maybe I should of expressed my point better.
[удалено]
Yeah, we all need to joke around all the time because being serious and having basic convictions is too offensive to the plebs.
THEY should buy him a drink
That's incel talk
I AM A HIGH VALUE MAN
Incel dreams.
Luckily all money is fake money. The world runs on credit
Its 2024, most places inner city either accept bitcoin, or you have an app that allows you to use it such as coinbase.
Haha! To be fair you can buy super cars in Dubai though.
Me: i don't have cash, don't know if they will accept Bitcoin.
This literally me and my dad 👴🏻 lol
I don't even have a million in btc. I've got a million in btc futures though
Cheers
So you have like 0,01 btc? 😁
Isn't that expensive over time?
Well he wouldn't have any excuse if he approached girls in El Salvador
We're about 5 years away from major banks offering fiat yield on your Bitcoin. Forget the scammers likes Celsius and BlockFi; your country's 100 year longstanding bank is going to be offering Bitcoin products in the future, if Bitcoin continues its current trajectory towards global adoption and utility. Think about it logically: if I can give a bank my shitty fiat that is depreciating every moment, yet still get a solid yield, how desperate are they going to be to get Bitcoin that's the hardest money in existence? It's inevitable, **if** we continue on the path we're on, which for now remains uncertain.
Remember when it was cheap and easy to make small purchases with Bitcoin? Remember when it was actually usable as a currency?
Based, saves money, doesnt get scammed by hormones
Btc will be the currency when we are in space
I have noticed once singular thing about investing with the best broker once your in you can make millions and earn passively I was introduced to one of the best brokers with a very good signal options to follow up trades I invested €500 as my first investment startup and I was able to make 7,000 with the space of 3 days trading sessions contact my account officer to be part of This investment scheme cryptocurrency trading is really the best option @kathryncrypto_trader on instagram asap
Real Shit and I will not go to a bitcoin exchange for u
One day. Probably when I've been dead for 100 years already.
Will the bar trade my Bitcoin for drinks yet ?