crypto currency

[QuarterMillionMan]

Drove LA to TJ about to ride my e-bike to my hotel in TJ to meet up with one of my sugar babies at the gentleman’s club sorry getting excited and side tracked. Nope no log in nor biometrics needed and both Ledger & Trevor always on.

[disneysteve]

Good point, I didn't think about that. Yes with Ledger & Trezor the thief would only need my iPhone PIN.

Are there not passwords or face ID or something with those other accounts? It's best not to remain logged in to financial apps. Actually, most good financial apps don't even allow that. They automatically log you out after a couple of minutes of inactivity.

[QuarterMillionMan]

Almost daily I've been loading the Trezor with about $500 in bitcoin. Tomorrow I'll start loading the Arculus with about the same amounts. The bitcoins are coming from my Robinhood & Coinbase accounts each containing about $10,000 balances. Someone might ask why not just transfer the entire $10,000 over in 1 shot. Because if something goes wrong I don't know how to retrive it. I have lost money before transferring Ethereum where I gave up trying to find out how to retrieve it. With traditional banking let's say transferring $10,000 from Wells Fargo to Citibank, it's straightforward but with cryptos it is not the same.

[QuarterMillionMan]

Good point, I didn't think about that. Yes with Ledger & Trezor the thief would only need my iPhone PIN. With Arculus the thief would need my iPhone PIN and the Arculus card to tap to the back of my iPhone. Before you brought up this point, I was going to keep my Arculus balance low due to the inconvenience. But now since you brought up the stronger security for Arculus needing 2 steps instead of 1, I'll load the Arculus with a higher balance.

[disneysteve]

I have 3 cold storage wallets, $69 Ledger, $79 Trezor, & $99 Arculus (my least favorite). Let me explain w/Ledger & Trezor when I open my iPhone these 2 apps shows my balances and can easily buy, sell, transfer, etc. With Arculus it needs the card everytime I open the app by tapping the card to the back of my iPhone. I don't want to have to carry the card everywhere that I go and I keep the card at home for safe keeping. People say Arculus is the best but I bet they are being paid to promote it.

Sounds like Arculus is more secure for that reason. Somebody would need access to your phone and to that card in order to get into your account.

[QuarterMillionMan]

I have 3 cold storage wallets, $69 Ledger, $79 Trezor, & $99 Arculus (my least favorite). Let me explain w/Ledger & Trezor when I open my iPhone these 2 apps shows my balances and can easily buy, sell, transfer, etc. With Arculus it needs the card everytime I open the app by tapping the card to the back of my iPhone. I don't want to have to carry the card everywhere that I go and I keep the card at home for safe keeping. People say Arculus is the best but I bet they are being paid to promote it.

[disneysteve]

I thought BTC was over $100k recently. Or did that go down the toilet too?

It hit 105K in late January before starting to fall again. Looks like it's mostly been around 85K the past month except for a brief drop to 75K.

Highly speculative things tend to also be highly volatile.

[ua_guy]

I thought BTC was over $100k recently. Or did that go down the toilet too?

[QuarterMillionMan]

Transferring cryptos are very cheap. Take this transfer from Robinhood to Arculus which cost me .26 cents. Buying cryptos is a whole different story. Take Coinbase for instance which has a 1% to 3% fee but it's not just the fee it's also the spread on the buy & sell where today BTC is $85,000. If you buy from Coinbase they'll sell it to you for $86,000 plus the fees. I'm convinced that the banks are already laying the foundation (behind the scenes) to transact in cryptos to save on the transaction fees and once they are ready they'll flip the switch and the train will have left the station.

[QuarterMillionMan]

My next cold storage wallet will be Arculus for $99, an American made product, I believe in New Jersey. Ledger is made in France. Trezor is from Czech Republic. Not sure if any of this matters. In Robinhood I have $12,000 in bitcoin which I intend to transfer on to my Arculus should I buy it.

[QuarterMillionMan]

Have more cryptos to transfer over.

[QuarterMillionMan]

Slowly transferring my cryptos from Coinbase to Trezor. Following the advice from the masses, "not your keys, not your cryptos."

[ua_guy]

It's all a scam. The same way with art. It's a way to wash money. Does anyone with a brain really think a Jackson Pollock is worth $50 million? Have you seen this type of art? It looks like a child made it. Just splash paint around. There is absolutely no rhyme or reason to it. No complex hidden code within the drips of spatter. But, if you need a way to report money, strike a deal with another associate and all the sudden you have $50 million on the books.

It appears some of the bigger crypto has gone this route. Not the hawk tuah girl coin, but the big players. I'm not hating on organized crime. It's smart business.

Yep. One of the biggest beneficiaries and proponents of crypto are the underground markets which need new ways to launder money. Not that crypto can't be a legit currency, it's that it provides the kind of protection that criminals need in order to transact. It's much harder to do that with traditional banks and/or paper currencies.

[EasyMoney00]

I don't get how you value something that no one knows how to value

It's all a scam. The same way with art. It's a way to wash money. Does anyone with a brain really think a Jackson Pollock is worth $50 million? Have you seen this type of art? It looks like a child made it. Just splash paint around. There is absolutely no rhyme or reason to it. No complex hidden code within the drips of spatter. But, if you need a way to report money, strike a deal with another associate and all the sudden you have $50 million on the books.

It appears some of the bigger crypto has gone this route. Not the hawk tuah girl coin, but the big players. I'm not hating on organized crime. It's smart business.

[LivingAlmostLarge]

I don't get how you value something that no one knows how to value