Can you beat someone who religiously buy and hold bitcoin from inception with trading?

deaddog said:
So what happens if your ledger is lost, stolen, or damaged?
What if you forget your seed phrase or some on finds where you wrote it down.
If and it's a big if someone were to compromise the ledger, who do you report it to?
I've had a phishing scam where the person wanted me to pay in bitcoin that supposedly can't be traced back to them. How do you protect yourself?
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Doesn't matter if the ledger is stolen, its just for easy access. There is a 6 digit pin and if something like 5 tries you get it wrong it will be disable permanently. The seed phrase is the most important, just store it in a safe, make maybe two copies and store in two safes would be the safest.

Don't click on unknown links to protect yourself from phishing scams. Bitcoin is traceable by the way.
 
HolyGrailSeeker said:
Doesn't matter if the ledger is stolen, its just for easy access. There is a 6 digit pin and if something like 5 tries you get it wrong it will be disable permanently. The seed phrase is the most important, just store it in a safe, make maybe two copies and store in two safes would be the safest.

Don't click on unknown links to protect yourself from phishing scams. Bitcoin is traceable by the way.
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Just fyi, the 2 copies are attack surfaces that are completely "clear" with no 6-digit pin

In addition, during a fire, they use water and if the water seeps into the safes, could damage them beyond recognition. Hopefully, the ledger was not physically damaged in the fire

Bitcoin is traceable, but people who got hacked or scammed have no way to go after the hackers who are usually in another country outside of jurisdiction. For small amounts, the hackers can easily swap it out with other cryptos through a variety of means
 
johnarb said:
Let's say you purchased 1000 shares of AMZN stock from your broker, what do you own. I say you to you that you own nothing but you'll argue that you own a piece of the company, a share of the company's earnings, DCF, EV, etc.

Amzn does not give dividends and if you try to go into any Amazon facility and claim you own a piece of the company and you need one of the vans, security will throw you out. $3.5M of "nothing" that you can sell to the market, that's nice and you get to vote on shareholder issues, except they have 450M outstanding, you don't have much voice
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On this I agree 100%. You bought a piece of paper that has a value set by an auction market, not unlike baseball cards. I haven't seen the piece of paper in years, the broker has it and as far as I know he doesn't actually have physical paper. For a fee I can get one printed up and they are quite nice to look at. I have several from my early investing days when I was a buy and hold investor.
I'm just rambling on... but here's a thought, let's say Canada's next President is a dictator and a cat lover and dog hater and decreed anyone associated with a dog is to be arrested and put in jail, all assets confiscated, and all financial accounts frozen
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Actually the one we have now is a liberal so that's not too unrealistic.:)

Bitcoin is a global asset and you will have no problems utilizing the value in South Korea, Japan or Singapore
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I can see the value in that.
If you have 15 minutes, watch this video that I started at the point where it might provide clarity on what I'm trying to say above :D
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I'll take a look.
 
deaddog said:
I'll take a look.
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Here is another one.
Just because something was created for a specific purpose, doesn't mean it cant be co-opted for an ouroborosian cycle of raw capitalism that recycles real resources into planetary waste, for the sake of ever more ethereal non-creations that only exists as mirages in our minds.
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:D
 
deaddog said:
On this I agree 100%. You bought a piece of paper that has a value set by an auction market, not unlike baseball cards. I haven't seen the piece of paper in years,

I can see the value in that.
I'll take a look.
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Except the stock certificate paper has been eliminated. It's why T+5 is no longer true as it required mailing those "papers" back and forth

When you click on the video on my link, it goes deep into the subject right away as I started it at that point. Don't watch the video at other time points, as it is a long video :D

I hope you are sitting down when you watch the video, Sir, it looks like your view of the stock ownership is outdated to a time when you had to phone your broker to buy a stock :)
 
johnarb said:
I hope you are sitting down when you watch the video, Sir, it looks like your view of the stock ownership is outdated to a time when you had to phone your broker to buy a stock :)
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There was really nothing new or rather nothing I wasn't aware of. I'm playing in a fixed game. But I'm a little player and no one notices me winning a few small hands. As long as I don't take the bait when someone offers me a no lose deal then I'll continue muddling along making a fairly decent living.

In selling her bank she did mention a few of the downfalls of dealing with crypto if you didn't deal with Avanti.

Up here in the frozen north I can apparently buy bitcoin thru WealthSimple (A robinhood clone) but I have to keep the coin with them. Not anywhere close to making a trade just looking for a vehicle to trade. Watching a chart of bitcoin on Tradingview. Hasn't yet broken the down trend.
 
deaddog said:
There was really nothing new or rather nothing I wasn't aware of. I'm playing in a fixed game. But I'm a little player and no one notices me winning a few small hands. As long as I don't take the bait when someone offers me a no lose deal then I'll continue muddling along making a fairly decent living.

In selling her bank she did mention a few of the downfalls of dealing with crypto if you didn't deal with Avanti.

Up here in the frozen north I can apparently buy bitcoin thru WealthSimple (A robinhood clone) but I have to keep the coin with them. Not anywhere close to making a trade just looking for a vehicle to trade. Watching a chart of bitcoin on Tradingview. Hasn't yet broken the down trend.
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It looks like you watched more than 15 minutes. That's great

She's selling her Avanti bank located in the state of Wyoming per the laws they've enacted to protect the bitcoin depositors

That's the crux of the matter. As you've seen in the video and your mention of a fixed system with the current financial system, what you think you own, i.e. Amazon stock or bond, or even the very fiat currency, is based on a ponzi scheme. Fiat currencies are a debt-based monetary system

Wrt Avanti, that's only if you wish to have a bank custody your bitcoins

Many bitcoiners do not trust others to custody their bitcoins

Holding your bitcoins is an escape from the current financial system, hence decentralized, p2p, immutable, censorship-resistant. Not reliant on rent-seeking intermediaries :D
 
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