I’ll trade a signed banksy for 5 btc

If youve been alive and aware of both Banksy and Bitcoin and dont have a bunch of money in your boot, you should take more risks in this life.

Go marry your live in girlfriend if youre over 30.

Agree, not a good time to jump in if not involved. Pricing in a lot. Better inflation hedges if that is what you want; startups are my game but would go with platinum if you want a traditional hard asset. Store of value with a nice battery upside tail.

Actually given you are on this forum just buy Banksy

-more nad more people are likely to use BTC.
-There is a limited amount of BTC

= BTC is going to be huge

I own some crypto but the worrying thing for me is that despite the rise in price in Bitcoin over the last few years it's still not become anymore accessible to buy, sell or use.

Its being reported on and discussed in the mainstream press nearly every day however you need to be fairly technical to actually buy it. Many people don't know where to start.

The concepts of wallets etc. aren't easy to grasp and very few businesses outside of drugs and arms dealers actually accept it.

It's still very much a casino for a lot of people. 

All those people who initially slated it will eat their words.

The sentiment evolves from opposition to indifference to acceptance to enthusiasm.

It's always a bubble until you hold some.

Worth looking into Litecoin too. It's billed as the silver to Bitcoin's gold. Faster transaction speeds than BTC so serves as a a better method of payment.

That's correct. There's no need to go down the self custody route really if your using one of the major exchanges. It used to be a must to take your crypto out in the early days when exchanges were hacked or disappeared overnight on a regular basis.

Yup looks like another round of stimulus checks are going to be sent out in the US.

How much is the price of Bitcoin related to US stimulus checks? If you look at the recent timeline it seems Bitcoin price is really relying on US stimulus checks. There might be a massive correction once these stimulus checks stop being sent out.

So when this happens where does all the money flow? i'm not saying that there won't be another 80% bitcoin crash but i think there's a strong argument to say it could do well in this scenario

I have a small amount of crypto from having a play around with it, and I am working with an artist to set up some time releases of his hand drawn but digital (via means of graphics tablet) art on OpenSea in the form of NFTs (I don't like the whole NFT hype, but if an artist can profit from it, let him )

But in general, people often look at Bitcoin and think it is this great wonderful thing, decentralised money, no control by banks/governments - all sounds ideal. Those really keen on that aspect have a dream all money goes that way, rendering Taxing a nightmare, meaning governments get less money, some say "great" to that, but then who pays to repair their roads, who pays their firemen and army etc.. you can't have a world run by privately owned armies and emergency services..

So, that means crypto in it's current form can never be used as an absolute currency, meaning it has to run alongside FIAT currencies. And as long as it does that, people are buying it for INVESTMENT and not for it's true use. Not many people out there are buying Crypto for the right reasons, they buy it because the values are still going up, and in some cases more so than any stocks and shares are capable of doing.

Now, for companies to accept Crypto as a currency, considering they live in the FIAT currency economy, Crypto currencies NEED to stabalise. Some companies are preparing to take Bitcoin, Paypal for example is, but it will pay out right away - like crypto exchanges. But companies like Tesla are pocketing the Bitcoin if they sell a car, so to avoid the volatility on their end, cars would be priced in dollars still, but you pay with the equivilent BTC value. Elon Musk has too much money to gamble with so he can take the risk that if I pay him $120,000 for a Tesla as 2BTC, and if BTC drops 10% the next day he has lost a sizable chunk of money overnight. On the flipside, he could make a lot post-sale if the price goes up. BUT for smaller companies and wider accepting of BTC it needs to be a lot more stable.

If BTC was more stable, going up or down 0.3% a day, investors would very quickly move on, that is a VAST amount of BTC being sold off as it is no longer earning those people extra value, the price of BTC will crash and all those companies who accepted it suffer major losses.

So there is a massive catch22 here, or a game of Chicken to some extent. The currency needs to stabalise to become dependable for businesses to trade in, but when that happens investors move on and the price crashes, but that makes it instantly unstable again, so why would businesses jump on board to start with... it depends a MONUMENTOUS amount on the crypto community supporting the benefits of the system rather than humping and dumping Bitcoin for the profit.

What IS GOOD is the BLOCKCHAIN - that is the revelation here and that is what needs to work and be adopted, but people just see it as Bitcoin on the blockchain and don't even comprehend the power the blockchain has to revolutionise so much. I am 100% for Blockchain apps and the next iteration of the Web being powered by the blockchain, but 100% believe Crypto is going to fail as fast as the hype took it off.

www.burritosorbitcoin.com/

Some fun with a chance to win some Bitcoin or Chipotle.

Wrong, you only need 1 address or 1 known transaction. as soon as someone pays you, you can see their address. When you pay Amazon for a book you can follow that to their wallet and any wallet connected to it by any historical transaction. You may not know who owns each one but you know which is Amazons (or one of theirs) and can follow the money somewhat.

And yes you could have 100 wallets and use one for payments and move it to a lesser known ”savings” wallet, but as above, you have a link by transactions between them so easy to see what wallets regularly transact. You would have to have many wallets and not transact between them to hide any money.

It wouldn't be required, but if your salary goes in there directly anyone can just say they're unemployed and pay no taxes, so I would imagine it would become a requirement by go, although any business could tell hmrc where they pay the money to and who owns it. It's also illegal to hold large sums of cash privately for that very reason so the point of cash being the same is not fully true. I am in the UK so no idea what a W2 is, employment tax here goes via PAYE and the employer pays it. But for example I am self employed so self assessed for tax, I could declare 30k income but pay myself 100k, unless Revenue want to audit a small 1 man.

Typing that out I realise that all applies anyway, could just do the same now 🤔🤫