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Crypto currency (IF banned from CA)

Damo_1878 said:
You didn't read it, did you?
Click to expand...
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.
 
DuuuncanHadaPigeon said:
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.
Click to expand...

Our non UK company (not saying where) holds them
 

Damo_1878 said:
Our non UK company (not saying where) holds them
Click to expand...
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 said:
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.
Click to expand...

I/we wholly own the company. There is no middleman
 
DuuuncanHadaPigeon said:
Buying bitcoin is no scam...

There is a bitcoin etf being traded on wall st right now
Click to expand...
DuuuncanHadaPigeon said:
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.
Click to expand...
Damo has been scammed.

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

DuuuncanHadaPigeon said:
Yes the best performing asset of all time is a scam.
Click to expand...
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.
 

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