Crypto currency (IF banned from CA)

[DuuuncanHadaPigeon]

You didn't read it, did you?

I did read it, 'i've got bitcoin in a corporate investment portfolio'

It's a really easy question to answer and I'm not trying to have a go. Do you know the private keys? If not which I think is likely then what you have is an IOU from a middleman.

For example if I say I have bitcoin on an exchange. I don't actually have that bitcoin, I have an IOU from the exchange.

 

[Damo_1878]

I did read it, 'i've got bitcoin in a corporate investment portfolio'

It's a really easy question to answer and I'm not trying to have a go. Do you know the private keys? If not which I think is likely then what you have is an IOU from a middleman.

For example if I say I have bitcoin on an exchange. I don't actually have that bitcoin, I have an IOU from the exchange.

Our non UK company (not saying where) holds them

 

[Goat]

Our non UK company (not saying where) holds them

LOL

Scammed.

I reckon you're the type who replies to spam emails.

 

[Damo_1878]

LOL

Scammed.

I reckon you're the type who replies to spam emails.

Pipe down @Goat

 

[Goat]

Pipe down @Goat

Quick Damo, there are single Moms in your area.

 

[DuuuncanHadaPigeon]

Our non UK company (not saying where) holds them

Ok thank you, and my point proven. You don't have any bitcoin, or rather you don't have direct access to the bitcoin you think you have. What you have is exposure to BTC through a middleman, which is fine, self custody is not for everyone.

But the entire point of bitcoin and crypto was to REMOVE middlemen.

 

[DuuuncanHadaPigeon]

LOL

Scammed.

I reckon you're the type who replies to spam emails.

Buying bitcoin is no scam...

There is a bitcoin etf being traded on wall st right now

 

[Damo_1878]

Ok thank you, and my point proven. You don't have any bitcoin, or rather you don't have direct access to the bitcoin you think you have. What you have is exposure to BTC through a middleman, which is fine, self custody is not for everyone.

But the entire point of bitcoin and crypto was to REMOVE middlemen.

I/we wholly own the company. There is no middleman

 

[Damo_1878]

Buying bitcoin is no scam...

There is a bitcoin etf being traded on wall st right now

All the major investment firms including pension funds will be investing in crytocurrency to some degree. Bitcoin is mainstream now and is part of an investment strategy

 

[Goat]

Buying bitcoin is no scam...

There is a bitcoin etf being traded on wall st right now

Ok thank you, and my point proven. You don't have any bitcoin, or rather you don't have direct access to the bitcoin you think you have. What you have is exposure to BTC through a middleman, which is fine, self custody is not for everyone.

But the entire point of bitcoin and crypto was to REMOVE middlemen.

Damo has been scammed.

I didnt imply buying bitcoin is a scam, which it is.

 

[DuuuncanHadaPigeon]

I/we wholly own the company. There is no middleman

Simple question, do you/your company have the private keys to access and transfer that bitcoin? Or did you buy it through something like an exchange?

 

[DuuuncanHadaPigeon]

Damo has been scammed.

I didnt imply buying bitcoin is a scam, which it is.

Yes the best performing asset of all time is a scam.

 

[Goat]

Yes the best performing asset of all time is a scam.

Glad we can agree.


Their performance numbers are based on that fact that 15 years ago, before anyone but the people who created it had heard of it, Bitcoin was “worth” something close to zero. Which is great if you were Satoshi or have a Time Machine.

When Apple was just two guys in a garage, it was worth close to zero. Now it’s a nearly 3 trillion dollar company. However, you couldn’t have bought AAPL stock when it was two guys in a garage, but you couldn’t buy bitcoin when it first started either.

The other HUGE difference is that Apple has paid something like $100 billion in dividends over time. That’s money you get without selling shares, because Apple actually makes products people use.

But anyone flashing the “best returning asset of all time” is so far into delusional territory, none of this is going to matter. They all bought in 2021/22 and are desperately pumping their bags, hoping for a break even exit.

 

[Damo_1878]

Simple question, do you/your company have the private keys to access and transfer that bitcoin? Or did you buy it through something like an exchange?

There is a specific director that manages it but my understanding is we have the keys and fully "own" the Bitcoin. The Companies constitution and our shareholdings dictate the governance over the investment

 

[Goat]

There is a specific director that manages it but my understanding is we have the keys and fully "own" the Bitcoin. The Companies constitution and our shareholdings dictate the governance over the investment

Why dont you sell a few coins and buy some Everton shares Damo?

Price is holding firm currently.

TO THE MOON.