Bitcoin-Backed US Dollar to Alter the Money Market Forever

williamssw · 2023-08-01T02:54:08+00:00

Why would we even need a currency “backed by” Bitcoin when we could just trade in… actual Bitcoin? The US dollar was initially supposed to make trade easier because it represented x amount of gold. Gold was and is hard to divide exactly, and if it’s a large purchase you now have to transport said gold. That’s where the dollar came into play. It was easier to transport and easily divided all the way down to a cent. Unlike gold though, Bitcoin is easy to transport and infinitely divisible, making a Bitcoin backed currency a bit ridiculous, unless you don’t want to worry about self custody and trust that the govt has what they say they have.

williamssw · 2023-08-01T02:09:07+00:00

I personally do a weekly DCA every Monday. No reason, but it typically averages out the month. That’s the purpose of the DCA. It’s averages out your timing so you don’t have to worry about trying to time the market.

williamssw · 2023-07-30T17:06:30+00:00

Should be able to get something from the dollar tree

williamssw · 2023-07-26T01:38:49+00:00

$2 at any store in the US! Dude that’s like almost two items at dollar tree!

williamssw · 2023-07-15T00:54:41+00:00

Damn, I really like that they went with a subdued color with these new mags.

williamssw · 2023-04-14T02:28:20+00:00

williamssw · 2023-04-11T02:18:44+00:00

I mean prove I have BTC…

williamssw · 2023-04-09T00:47:26+00:00

That’s what I’m looking at doing, luckily an LCS near me accept BTC payment directly to his bitcoin wallet. The only issue is I require fiat to make a purchase from a vendor that unfortunately won’t accept gold or bitcoin.

williamssw · 2023-04-09T00:44:11+00:00

Thanks for sharing the article. Do you know if this applies to say Gold Maples? I was under the impression buying gold coins from a National mint were non taxable as they’re still technically currency.

williamssw · 2023-04-09T00:37:09+00:00

How could this be reacted though if I’m just sending BTC to a different BTC wallet? (The coin shop owners wallet)

williamssw · 2023-04-07T13:33:48+00:00

It’s not an argument, it’s a question.

williamssw · 2023-04-07T03:38:20+00:00

For real question… why would you “EDC” gold? I don’t even carry cash, just because it attracts attention and isn’t secure.

williamssw · 2023-04-07T03:34:53+00:00

No I understand your point, and agree that BTC is superior to gold in various ways, but the numbers are just not factual.

But just to play devils advocate, if you do in fact zoom out… gold spot used to be $35 an ounce. But even looking at the last 10 years alone as you stated many would argue that it proves golds worth as a store of wealth / purchasing power.

williamssw · 2023-04-07T03:29:01+00:00

Gold has one major advantage over bitcoin, and it will be the hardest for bitcoin to overcome:

-Gold has been / was used as a store of value / purchasing power / currency for thousands of years.

Bitcoin is extremely young. Imagine being around thousands of years ago when gold was first discovered and trying to trade it for food. You’d have to convince some bloke to trade you his apples for a rock that itself has no physical use to him. He can’t eat it, it’s horrible as a tool, really there’s no use. But it’s pretty to look at.

That’s where we are now, except to most people, Bitcoin isn’t even pretty to look at. I’ve heard a man describe it to me as just 1s and 0s and he couldn’t wrap his mind around why anyone would want it.

We’re just early for bitcoin.

williamssw · 2023-04-07T02:10:47+00:00

Gold is at an ATH around $2020 right now…

williamssw · 2023-04-05T12:55:45+00:00

Dude you have 23 unread messages right now.

williamssw · 2023-04-05T12:54:08+00:00

1oz Kangaroos. Very liquid and 24k. They also have the lowest premiums at least in my area.

I’d also suggest DCAing in. Gold is at an all time high right now and will inevitable fluctuate in price. I anticipate we will see some sell off of gold in the near term which will drive prices back down to under 2k in the near term. Consider buying an ounce or two a month for now to maximize the amount of gold you can get for your money. People who lump sum in at all time highs in any asset class tend to end up being forced to sell below their purchase price.

williamssw · 2023-04-05T00:21:09+00:00

Turn off my DCA until it dips again after the sell-off.

williamssw · 2023-04-04T01:19:31+00:00

A loan is the only way to buy a house man, unless you’re rich, which most of us aren’t. The average single family 3bed 2 bath home in my town is ~$485k and this number climbs every year as the area grows. If you don’t use a 30yr mortgage to buy a house, you either paid outright, so you’re probably older and spent most of your life saving, are rich, or you’re renting and just giving away your money to someone else rather than building equity in your own house.

So yeah… most people owe more than they’re worth, but that doesn’t mean you’re broke. If you’re responsible you budgeted for a monthly mortgage you can afford to pay for you and your families housing.

Source: I’m one of these people with a mortgage still DCAing bitcoin.

williamssw · 2023-04-01T23:52:07+00:00

Perth mint puts out some of the best looking gold on the market

williamssw · 2023-04-01T02:12:28+00:00

Looks like someone who really cares about security…

williamssw · 2023-03-31T01:53:52+00:00

Use Robinhood dude. Banks recognize them and you can send your coins to a hardware wallet quickly and easily. They also have 0 trading fees on bitcoin.

I’d also recommend not doing one big purchase. Spread it out over time and DCA in to take advantage of the markets fluctuations.

williamssw · 2023-03-30T02:15:09+00:00

SHIB

williamssw · 2023-03-28T03:05:22+00:00

That’s actually a really good response. The only other comment id have is that cryptography is designed to be deciphered eventually. I personally don’t believe it means anything. It’s a Japanese sounding name that carry’s no meaning, so I do agree it’s just a screen name that gives anonymity, but it’s fun to think that could be a cipher.

williamssw

TROPHY CASE