Bitcoin or Gold?

[Heng]

Gold @$59,541 this morning.  Won't crash like folks are predicting but there definitely is some 'flight from gold' going on.

[JeffersLos]

12 hours ago, Mr Meeseeks said:

I used Bitkub too, now I am very wary of it.

 

Doesn't it cost a lot to move Bitcoin to a private wallet?

 

Far more than moving other coins. Or am I wrong? 

[Heng]

BTC address to address costs are dependent on blockchain traffic conditions, not type of wallet.   Bitkub looks legit, but so did Mt. Gox for years.  Private non custodial air gapped wallet = sound sleep.

[Mr Meeseeks]

41 minutes ago, JeffersLos said:

 

Doesn't it cost a lot to move Bitcoin to a private wallet?

 

Far more than moving other coins. Or am I wrong? 

It only costs a lot when the network is busy, and even then, it isn't that much. 

 

At the moment I would say gas fees in Ethereum are far higher.

[Barnabe]

The problem with having your own wallet is securing it. The majority of users are better off using a good exchange like Binance or Coinbase. Failing that, get a hardware wallet.
 

Unless you have a good knowledge of cyber security, it will be hard to have your wallet as secure as those more reputable exchanges.

[Neeranam]

1 hour ago, Heng said:

BTC address to address costs are dependent on blockchain traffic conditions, not type of wallet.   Bitkub looks legit, but so did Mt. Gox for years.  Private non custodial air gapped wallet = sound sleep.

I think Bitkub is very secure. I believe Mt Gox users recently got back their coins.  

However, I also use a Ledger Nano S(2 actually), which are hard wallets. As long as I don't forget my 24 word password, It is ok. 

[Neeranam]

2 hours ago, Heng said:

Gold @$59,541 this morning.  Won't crash like folks are predicting but there definitely is some 'flight from gold' going on.

Interesting, this is something I anticipated and made me start the thread. I know a few guys who exchanged their gold for BTC. 

[Heng]

25 minutes ago, Neeranam said:

I think Bitkub is very secure. I believe Mt Gox users recently got back their coins.  

However, I also use a Ledger Nano S(2 actually), which are hard wallets. As long as I don't forget my 24 word password, It is ok. 

 

Some users got their coins back.  And no doubt were happy with the results (minus the headaches along the way) because the decision was made for them to HODL.   A large number of people who weren't verified on site were SOL.  I got my coins out first for other reasons (because they stopped allowing that bridge from Dwolla).   Definitely to each his own, but I think if one can keep their email secure, they can keep a btc wallet secure.  You don't need to be a cyber security expert to know that a device not connected to the internet won't be hacked.  Once you cut that out of the equation, it's just old school physical security.   

[Barnabe]

3 hours ago, Heng said:

 

Some users got their coins back.  And no doubt were happy with the results (minus the headaches along the way) because the decision was made for them to HODL.   A large number of people who weren't verified on site were SOL.  I got my coins out first for other reasons (because they stopped allowing that bridge from Dwolla).   Definitely to each his own, but I think if one can keep their email secure, they can keep a btc wallet secure.  You don't need to be a cyber security expert to know that a device not connected to the internet won't be hacked.  Once you cut that out of the equation, it's just old school physical security.   

 

I agree, but then again we're talking about the majority of users. The ones who come and ask "how can I buy bitcoin etc". For those, the best advice is keep it in a reputable exchange.

[fdsa]

Can anybody tell me <deleted> is going on? The US dollar goes bankrupt? Or the shoe cleaners went all in?

 

[fdsa]

5 hours ago, Neeranam said:

I think Bitkub is very secure.

 

Bitkub is hosted on Virtual servers in Amazon datacenter in Singapore. The funny part with virtual servers is - a hosting administrator (e.g. any Amazon employee from Bangalore) has full access to the data on that server.

So it takes just one greedy person (or just angry at their boss) to steal (or wipe) all your bitcoins.

[metisdead]

Posts using profane language have been edited or removed:

 

8.) You will not post disruptive or inflammatory messages, vulgarities, obscenities or profanities.

[mr mr]

anyone know much about these airdrops coming up. xrp did the one with flare and you can claim them up to 6 months after the snapshot date.

[ThailandRyan]

4 minutes ago, mr mr said:

anyone know much about these airdrops coming up. xrp did the one with flare and you can claim them up to 6 months after the snapshot date.

I should get about 10,656 tokens from the Airdrop when Coinbase makes it available.  I converted my XRP when it was at .52 cents per coin and bought more ETH.

[Neeranam]

1 hour ago, fdsa said:

 

Bitkub is hosted on Virtual servers in Amazon datacenter in Singapore. The funny part with virtual servers is - a hosting administrator (e.g. any Amazon employee from Bangalore) has full access to the data on that server.

So it takes just one greedy person (or just angry at their boss) to steal (or wipe) all your bitcoins.

And Bitkub would reimburse me. 

[fdsa]

34 minutes ago, Neeranam said:

And Bitkub would reimburse me. 

Yea, as well as MtGox and BTC-e.

[JeffersLos]

I'm already up 15% holdings due to the bitkub verification delay. 

 

 

I would have bought at 40,000USD, by the time they get to verifying my account it might be 20,000USD. Doubling the amount of bitcoin I'll hold.

 

 

[Neeranam]

Oh dear, Bitcoin has CRASHED to levels never see since LAST week ???? 

[Neeranam]

I believe BTC is still a great buy. To put things into perspective, here's the 2017 graph, where 40% market corrections were normal.

 

[Heng]

I think it'll go up for awhile, but I generally tell people the opposite (as to whether to enter the market or not) because in general I don't think the average person can handle this kind of price action.  The rare exception is for friends or family who have large allocations of non performing fiat type assets that they are okay with 'playing with.'   For example folks who seem to collect stacks of Omsin bonds or local fixed accounts that "earn" 0.75%.  And always with the caveat of... *it can go to zero/can you laugh off a loss, etc.*    

[Neeranam]

3 minutes ago, Heng said:

I think it'll go up for awhile, but I generally tell people the opposite (as to whether to enter the market or not) because in general I don't think the average person can handle this kind of price action.  The rare exception is for friends or family who have large allocations of non performing fiat type assets that they are okay with 'playing with.'   For example folks who seem to collect stacks of Omsin bonds or local fixed accounts that "earn" 0.75%.  And always with the caveat of... *it can go to zero/can you laugh off a loss, etc.*    

The Thai friends I got to invest in BTC also love Hi-Lo! 

[Neeranam]

On 1/5/2021 at 3:31 PM, Neeranam said:

Gold - $1943

Btc- $30,500

 

At the time the poll was made. 

Let's revisit in the future. 

 

I'm surprised that gold leads the poll. 

 

Gold  -  $1m859

BTC - $36,100

So 1 week on. If you had invested 1,000,000 baht in gold, you'd now have around 950,000.

If you'd invested in BTC, you'd have around 1,150,000.

 

 

[ThailandRyan]

9 minutes ago, Neeranam said:

Gold  -  $1m859

BTC - $36,100

So 1 week on. If you had invested 1,000,000 baht in gold, you'd now have around 950,000.

If you'd invested in BTC, you'd have around 1,150,000.

 

 

200k swing from loss to profit.

[Neeranam]

3 minutes ago, ThailandRyan said:

200k swing from loss to profit.

Also, with BTC, you have had the chance to take profit at  1.4 million before a market correction. 

[Heng]

Still, remember it is just tech.  Put 1,, in gold in a safety deposit box, and right next to it 1,, in BTC... in 30 years, that 1,, in btc might be a billion dollars or just an Atari 2600 game cartridge (my first piece of cutting edge tech when I was 9).   Your kids will either thank you or laugh at you.   

 

As per my philosophy in my favourite entertainment venues... "when in doubt, just take both." 

[ThailandRyan]

Daughter in the US just opened up my fathers safety deposit box, he passed away just before Christmas and his 74th Birthday.  In it she found bearer bonds from 20 years ago worth over 100k, and 200 Gold Krugerrands he had bought over 30 years ago.  There were even some Series EE savings bonds going back 50 years.  She was shocked to say the least, but what impressed her most was a flash drive with a note on the outside indicating he had 10 bitcoins and the key for it on the flash drive as well as the key written down for the wallet in a sealed envelope for her.  I would say he had not only invested for his future, but for that of my 2 daughters and son.  I was shocked when she called me from the bank.  He also has many accounts with Morgan Stanley, the local CU, and CUNA Mutual group.  She as a Forensic accountant will obviously make the best decisions for herself, her sister, and my son. 

[thailandbeachisland]

hello, where do you buy bitcoins from Thailand ?

Thanks.

[david555]

27 minutes ago, thailandbeachisland said:

hello, where do you buy bitcoins from Thailand ?

Thanks.

i don't know they are still active  , i am not a bit coin fan , but here is the url. they nagged me with to join ....Thailand's Leading Bitcoin Wallet | Coins.co.th

 

they have Thai .and Philippines branch

[mr mr]

here it comes boys........

[phetphet]

56 minutes ago, thailandbeachisland said:

hello, where do you buy bitcoins from Thailand ?

Thanks.

Bitkub