Wall Street and banks/financial institutions rob people. That is what they do. They are now doing it with bitcoin in a largely unregulated market. You are a fool if you think anything other than just a few people are behind what is happening.
Now we're going to have paper bitcoin from BAAKT. They are all human shit. Brilliant people put so much of their time into coding BIPs, etc and we have these Wall Street vultures swoop in and fuck the market.
Robbing bitcoin millionares is a WHOLE LOT EASIER than banks nowadays
I was thinking about this earlier that if you are visiting a not-so-hot country (or even at home!), reveal you have btc, you're painting a pretty big and easy target on yourself. Chances are you'll be traveling with your smartphone and/or cloud backup access to some, most, or even all your coins. If you reveal you have everything on Bitstamp for example, it's gg. All it takes is for someone to lead you into an bad area then force you to transfer everything to them. In the past, it's hard to do with ATMs because most debit cards limit your WD amounts or block them entirely, plus bank branches are usually in public areas, and in general Fiat is traceable and reversible. Not so with crypto. With Bitcoin being such a hot topic and I'm sure many of you want to discuss and receive praise for your wise investment strategies, be wary of how easy it is for you to be in the wrong place against someone who knows what they are doing and a knife to take potentially hundreds of thousands of dollars worth you hodled since 2013. This applies to your home country as well; don't talk to desperate Uber drivers about how much money you can carry on your phone at a time.
Saying Bitcoin has never been hacked is the same as saying a bank has never been robbed for transaction details and ledgers. Discuss.
I was thinking about the claim that Bitcoin has never been hacked, only personal wallets. So I started to compare bitcoin with a commercial bank, and for that statement to be true, is the same as saying a robber enters a bank and asks for customer transaction records but not any money. All the block chain is, is a record 'blob' of all accounts transactions records, no money (BTC) is held on that record database. The money (BTC) is held in users accounts (wallets), and it is well known that wallets are routinely hacked. What criminal is going to hack bitcoin to gain access to transaction records that are already public knowledge. What criminal is going to hack a bank to steal only transaction records and not actual money. If some hacks a bank, they had it to gain access to the money in the customer accounts. They don't hack the bank to get customer transaction records or the banks ledgers. (Although that would be funny). I forgot who made that claim (recently) but if the same reasoning is applied to banks, they too have never been hacked.
01-14 00:33 - 'I just robbed a bank. #HODLERDIARIES' (self.Bitcoin) by /u/thegrandknight removed from /r/Bitcoin within 3190-3200min
''' At least that's what it felt like. I received five cheques for some freelance work. I knew I could deposit them in my bank and a portion of the funds would be 'HEDL' But I said to myself nope. The quickest way for me to hodl is to convert these cheques to cash. So I rolled into the central branch that these 5 cheques were written from and requested to cash them. The total amount was eight thousand dollars. At first he refused. Told me go to my own bank and cash them. I remained calm and advised him to consult a supervisor. My favorite part was when he had to plug in the money counter for my hundred dollar bills. TL/DR I wanted my cheques to become cash so I could buy Bitcoin faster. I managed to get around the banks trying to hold my funds. Like a Boss
Late last year I fell for a romance scam. I was on a dating app and I was chatting with a woman (sure I got catfished). We were chatting (not talking but texting) for a month and she said that she needed help getting home because she was robbed and not in the states at the time. We texted eachother throughout this situation and she sent a check to me. I deposited the check to my acct and sent the money to her through bitcoin (check was found fraudulent a few days after I sent the money). I was hoping to meet this woman but It was an epic fail and I let myself down because I didn't follow my gut feeling (I ignored so many red flags and bought into the story, yes I know I'm a huge idiot). I even did my research prior to this and my dumbass still went on with it smh. My bank acct was closed because of it and I filed a police report, thankfully I didn't get in trouble. This lesson was learned the hard way and I will never make the same mistake again, but I do have regrets because I ignored my intuition and allowed this to happen to me. The check was $2,500 smh and no I didn't have to pay anything back. I have opened up a new bank acct after this issue and blocked the scammer etc. I'm bothered by the fact that this scammer had my # and address. A strange # text me in March, I ignored and haven't been contacted since. How can I stop thinking about my bad decision every day and move on from it ? (I still feel stupid about it).
I keep hearing "Deflation before massive inflation"
So what can we do about it? Any ideas are welcome. It has a lot of "what if's"... It depends how tax and law play out with it.Historically speaking:
Commodities and things people use every day become expensive,
Luxury goods fall in value.
Inflation wipes out all savings, there is often a rush to spend money while it has value. "Bank runs" and "Bank Bail in's" where the bank will limit your withdraws to prop up the bank temporarily. Sure here the FDIC may insure it, but its nothing if your money is losing value by the hour and it takes months to get it actually into your hands. And many countries have issues with a person holding cash..."You're automatically a drug dealer! >your money is now drug money! >Asset forfeiture" ...I cant count how many times this happens.
People yell " physical gold and silver!" ... yeah, those do hold value well, however the gov does tax that at 26-30% when sold, and will often ban its use in dire times. ....huge grey / pirate area.
Mining stock is the same in the tax range, and nearly anything you "resell", imposed taxes and royalties can be added leaving you high and dry.
Precious metal holdings have been banned in the past, even here in the USA...aka Government confiscation.
Nationalization of Precious metals mines have happened.
Edit: I now realize there are many ways stocks can play out.
Real Estate will raise in value hugely, However so will the taxes, longer contracts at fixed rates benefits the lendee.
Things that you use, if you can stock or invest in it.
-I stock bulk diesel for my cars while following historical averages to buy cheap.
-Rotating food stock
-Extra maintenance items, including the big things like a roof on your home if its coming time. Not joking I have a spare water heater and backup heating options, along with minor parts and filters to fix them. Same with cars and engines, (spark plugs, filters (all different filters), oil, cheap sensors that usually go bad and are only 4-10$ each, 1-2 extra alternator per vehicle, belts, mowing belts, bearings, grease, ... and I've literally had to use everything on that list and reorder.)
Things that directly pay you back or are insurance. Saving money is making money.
-Security, Locks, Alarms, Cameras, people steal.
A deep freezer for instance can stock food you use and buy on sale.
Solar energy and solar heating supplements energy you use anyways
Rainwater can be collected and used rather than buying from a source.
A cooking gadget vs eating out.
Tools and learning to fix things vs hire.
House insulation.-Better insulative windows, and sealing.
Bidet on toilet (lol serious though...)
Your education can be a huge one, not just for prepping but also in your work.
Things that prevent rot, fire, flood / humidity, or failure. Humidity is a silent killer to many preps. (water sump pumps, dehumidifiers, leak prevention, fire extinguishers / sprinklers, )
Things that last and can be resold on the street if need be. This list can be huge, you have to balance it with liquidity, what you use but can also sell before it goes bad / fails.
Honestly and unpopularly, Things that can avoid tax when the price inflates out of control and you wish to sell. The numbers can be so distorted in both price and taxing of income. Eggs for instance, in many countries from Weimar Republic of Germany to Venezuela, increased 15,000%+, So that $15,000 egg / $150,000 dozen that you sold from your chickens gets taxed in the highest tax bracket? (which can go into the 90% range if rules aren't changed for the massive inflation) Taxes usually try raising during this and many companies flee the country, add robots / machines, or downsize as the result of more taxes making work and jobs even more of an issue. .. honestly history shows the whole thing being a cluster-duck in so many ways. Alternative currencies pop up, actual trades happen and go unreported, crime even shifts when things get too bad, again with Venezuela, I read that criminals were moving to other countries because the people were too poor to even make anything robbing! You can also have a business where you write off so many things that you would use anyways. The numbers get... err... odd, play the game.
It is usually around 10 years of chaos before things start "stabilizing." and even then, so much damage has occured.
This is a serious thing that has happened to once prosperous people / civilizations in the past...don't think you're exempt, especially when the numbers are at historical limits in many countries. Invest in yourself and what you use regularly.
I am not sure if you had been following the news but Lebanon is having some serious crisis right now. Their currency had lost over 75% purchasing power within weeks. Capital controls are in placed to prevent depositors from withdrawing their own money from the banks. Adding to that misery, the government is planning to steal a percentage of the depositors money. This is theft on a national scale. If you think your money in the bank belongs to you, just ask the Lebanons now if they feel the same way. So you may think Lebanon is the exception, let me assure you that this is absolutely not true at all. The American government is robbing the country as we speak, to the tune of $4.3 trillion dollars in bailouts, at the expense from ordinary taxpayers like you and me. Yes, you heard it right, it is $4.3 trillion dollars and not billion dollars. The American government is the biggest looter during this crisis. Source: https://prospect.org/coronavirus/unsanitized-bailouts-tradition-unlike-any-othe So you may think Lebanon and America are the exceptions, let me assure you that this is absolutely not true at all. Back in 2013, Cyprus stole up to 15% of the bank depositors money to fund the country deficits (mismanagement and corruption by the politicians). So you may think Lebanon, America, and Cyprus are the exceptions, let me assure you that this is absolutely not true at all. Back in 2011, Greece stole up to 50% of the bank depositors money to fund the country deficits (mismanagement and corruption by the politicians). Did I ever tell you what happened in China or Germany or Yugoslavia or Venezuela or Zimbabwe? The good people in these countries have experienced their entire savings became worthless overnight due to hyperinflation. And there is absolutely nothing they can do about it (until now that is). One of the most dangerous thing you can say to yourself is, it won’t happen in my country. It absolutely can and given enough time, it absolutely will. And if you are not angry at someone else stealing your hard earned dollars from you, I am. That is why I am in Bitcoin Cash for the long run. Capital controls? Not my problem. Hyperinflation? Not my problem. Bailin and Bailouts? Not my problem. Government robbing depositors money? Not my problem. Rioting and looting from citizens realizing they had been robbed by the government? No problem, I can leave to another country and start life afresh. Because with Bitcoin Cash, it is an international currency and you and only you, has full control over your own money.
Bruh at the start of my binge I was using American bank account decoys thru a friends account when I couldn’t just use bitcoin. I was put together as fuck then I did a dip and wtf man. The top city supplier got arrested and i live in a sparse area so you’d be buying these shitty ass expensive presses from Mr Glizzy a week later at 3am. I was living off that reup that was like.. I don’t remember then I ended up holed up with 107 cause of corona. I got that shit and was so smug I quit for two days in which I was psychotic then I got this and I dropped one in the trash like four in a spiderweb and SIX I PUT in my mouth then honestly admitted to it and posted it up with my stack??? Ina. Seeperatw container lmfaooooo. Ok I just remembered that detail. Anyway I got robbed by a heroin addict for like fifteen gave away maybe twenty for alcohol and mescaline then I did the rest now im here thanks
09-27 00:35 - 'Bitcoin works like magic for those who know how to control it, most of you out here do not know how to trade, most of you have also been robbed by fake traders... / . / Now is your time to finally be free, join the in...' by /u/Personal_Praline4 removed from /r/Bitcoin within 81-91min
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Hacking Coinbase: The Great Bitcoin Bank Robbery. August 23, 2017 Category: Breaking News. Sean Everett wasn’t sure how his bullish bet on cryptocurrency would turn out. But he definitely didn’t expect it to be over so soon. In March, he sold all his stocks, including Apple and Amazon, and used a chunk of the proceeds to buy Bitcoin and Ethereum on a site called Coinbase. The decision made ... For example, when Dachis was robbed, a Coinbase customer support rep complained right back to him by email that "Coinbase has suffered a $1,657.41 USD loss due to bank reversals" of transactions ... Bitcoin ATM Robbed: Thieves Forgot The Most Importnat Thing Author: Jordan Lyanchev Last Updated Nov 23, 2019 @ 17:21. More and more Bitcoin ATMs are popping up around the world and sometimes they become a target of wrongdoers. A couple of thieves recently robbed a Bitcoin ATM in Canada. They took around $3,000 out of the machine and what is more interestingly – forgot to take the remaining ... Besides Bernie Madoff, not one major bank CEO has been jailed to-date, and the only reason why Madoff was burned was because he robbed the elite. Meanwhile, law enforcement officials and financial regulators were told by Donald Trump to “go after bitcoin” in 2018 or asked to dismantle the decentralized network in 2012. Bitcoin heists are actually not uncommon. In June of 2011, a user named Allinvain was the victim of what is arguably the first recorded major Bitcoin theft. Allinvain awoke to find that a hacker ...
Teenage Bitcoin Millionaire lost $400,000 My Social Media Facebook - https://goo.gl/dcs8Jh. In this video, Luke Rudkowski of WeAreChange gives you the latest on the privatization of the U.S economic stock market, with the latest trends and analysis ... In this Cryptocurrency News video, I look at Royal Bank of Canada's latest news about cryptocurrency ! China surprise us again ! Thieves steal from a number of CEOs. *** DISCLAIMER *** This is NOT ... CTV news reports about a local Ottawa Bitcoin Brokerage robbery attempt. Thieves smash open bitcoin machines in Houston and Las Vegas, steal cash - Duration: 2 ... ‘Bank Jugging’ crime makes way from Houston to Austin - Duration: 2:29. kxan 10,616 views. 2:29 . Don ...