https://quoththeraven.substack.com/p/why-i-bitcoin

Nice essay by a recent Bitcoin convert.

Troglodyte said:

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Why I Bitcoin........ Because it will piss me off if all these millennials end up rich via BTC while I grind it out.

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That's not a bad reason at all. As the great Hal Finney once said:

For those looking for research material:
Thread of bitcoin papers

Thread of the best #bitcoin papers 🧵

1. The Bitcoin Whitepaper

Satoshi Nakamoto once posted, "I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper"

Read here: https://t.co/kXJ49TdwQY pic.twitter.com/xnY0gFUH53

— Documenting ₿itcoin 📄 (@DocumentingBTC) February 5, 2024

Satoshi = enlightenment, wisdom, or intelligence.
Nakamoto = root hit, center / origin.
One meaning of Satoshi Nakamoto could be "Central Intelligence"

jagvocate said:

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Satoshi = enlightenment, wisdom, or intelligence.
Nakamoto = root hit, center / origin.
One meaning of Satoshi Nakamoto could be "Central Intelligence"

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Facepalm

jagvocate said:

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Satoshi = enlightenment, wisdom, or intelligence.
Nakamoto = root hit, center / origin.
One meaning of Satoshi Nakamoto could be "Central Intelligence"

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Early #Bitcoin adopter, Davinci Jeremie, believes that Satoshi worked for the NSA and his security clearance gave him the knowledge to develop Bitcoin without leaving any back doors for the government. 🤯 pic.twitter.com/Ou7lwTnLnA

— The ₿itcoin Therapist (@TheBTCTherapist) February 7, 2024

Its takes 7-8 days to spend or transfer BTC after you buy some. That's on Coinbase, which I assume is close to the avg time. That needs to be improved.

I get that there is a bank clearing time, but I can transfer/liquidate equity 3 days after buying. BTC shouldn't be different.

BlueTaze said:

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Its takes 7-8 days to spend or transfer BTC after you buy some. That's on Coinbase, which I assume is close to the avg time. That needs to be improved.

I get that there is a bank clearing time, but I can transfer/liquidate equity 3 days after buying. BTC shouldn't be different.

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Is this the case for IBIT and other ETFs?

no. there are several ways to buy and move real bitcoin much faster than coinbase as well. strike was already mentioned, cashapp, bisq, kraken, etc.

Bitcoin is steady on the rise.

I purchased more yesterday.

Currently at $51.7K

I use Coinbase and currently buying just bitcoin.

Do not understand the other items being sold on Coinbase, reminds me of slot machines in Vega. Lol

Only $0.05 million. Don't worry, it'll pick up.

ac04 said:

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no. there are several ways to buy and move real bitcoin much faster than coinbase as well. strike was already mentioned, cashapp, bisq, kraken, etc.

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Why buy real bitcoin with all the complexities when the ETF is so simple, convert back to cash immediately...etc?

jamey said:

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ac04 said:

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no. there are several ways to buy and move real bitcoin much faster than coinbase as well. strike was already mentioned, cashapp, bisq, kraken, etc.

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Why buy real bitcoin with all the complexities when the ETF is so simple, convert back to cash immediately...etc?

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The ETFs are great for all the reasons you mentioned. Plus, they're an easy way to get exposure to Bitcoin in retirement accounts.

However, not your keys, not your coins. When you buy ETFs, you're taking on counter party risk. You only own an IOU of Bitcoin. It is susceptible to the fund issuer not backing it by real Bitcoin or the government bring able to freeze or seize your assets. Both are pretty low likelihood possibilities, but the purpose of Bitcoin is to give you full self sovereignty over your wealth that can't be frozen, seized, or swindled.