Recent content by OKboomer

They sometimes do questionable things. Someone I know had an offshore corporate account verified to level4, only for them to give notice of account closure with 72 hours to move funds away from exchange, NOT allowing to withdraw fiat. As a result the company was forced to rebuy crypto they sold...

Wait , but aren't US treasury bonds essentially USD ? And haven't most major economies amassed trillions in those from their trade? So effectively USD is used as a reserve , no?

It's a social construct, more so than a technical one. And thus it has no inherent value besides a belief in its value shared by a group that has reached and crossed a certain critical mass to obtain and support its current market cap. And should that belief fall back below a critical mass...

Erm, wouldn't the USD losing 99% of its purchasing power over the last 100 years qualify as "the end"? So dollar as a concept does exist and probably will, but its value has diluted so much that treating it as a meaningful store of value (or even express value in its terms) needs critical...

So, what do you guys think, now that we have this Coronavirus mess? I for one am disappointed with the performance of Bitcoin, literally shitting the market, losing 55%+ of its value in just 48 hours in the middle of global lockdown introduction and stocks crash. The discussion now is coupling...

Yeah, but how much money can you keep in hard cash anyhow? Definitely a small fraction at most, for a rainy day / survival. You can't even really bring back huge heaps of cash bank to your bank to deposit as far as I know , nor can you execute any significant transaction over X thousand USD\EUR...

For someone say from crypto/trading background who always gets KYC/AML trouble from any banks, respected and not, does it make sense to purchase an offco with banking license in order to use it as own pocket bank? Will it solve the problems? I know that any such bank would have to have a...

@Martin Everson , for me one thing is not clear. When you say that cash and cash-like instruments (e.g. sovereign bonds) are your preferred options - you said it before corona and are saying this now - where do you actually hold those? I assume in some kind of financial institution. The...

So all you forum big boys are bitching on governments for taking a cut on all activities, yet you are pushing people to pay you just so that people could exchange contact details on your forum? Mhm

I tried googling the rules but could not find. I think it's wrong not to let people DM each other. Come on, your forum is discussing sensitive stuff even posting here is a privacy/security risk and I would have more questions myself, but probably would not want them to be public and also become...

This is weird. So on this forum no way to connect? Do you have a burner email address you can share?

On gold, what do you mean? Having your own safe at home? What are the problems with registered safety deposit boxes? (apart from identifying you for the bank obviously) On real estate, buy to let, or buy to hold for later resale? I wrote about issues with both these approaches nowadays...

what's the way to enter a private chat with you?

In what way? Maybe he is secretive, which is understandable. The discussion itself is interesting.

This is debatable, but overall your arguments are valid in my opinion. Bitcoin's weakness is that it's a social construct and thus indeed can suffer fall in value in case of adverse actions. On the other hand, I do believe that in case any major countries become too strict/punitive towards it...