Crypto Sold my house and put it all into bitcoin.

When you say digital gold what are you referring to? Do you mean btc as a store of value? Or the gold backed alts? Or something else?

 

Correct - one of the attributes i like about BTC is its store in value.

 

Fair enough! I'm happy to take the risk for an extra 33% in earnings, its risk vs reward after all at the end of the day

 

Only reason I decided to put bitcoin into blockfi is because a few of the OG’s I trust recommend it and it has been backed by quite a few reputable people and companies in the space. I haven’t looked at crypto.com before though. What made you decide to go with them? Do you feel like they are fairly safe?

 

Just from the sidelines what do think will happen as China have started to look at a central bank digital currency ---CBDC---as China,s 4 largest commercial bank began testing last month and none have tested the way China has.imho.good luck ..

 

Pomp is a paid shill remember..

Also block-fi and Gemini is only insured if you are a US citizen..

 

For me, I derive a tremendous amount of benefits, besides the "Earn" feature. I'm getting:

- A great UX where I get a debit card to spend crypto (via conversion to Fiat) without incurring CGT
- Cash back on any purchases (anywhere from 1% - 5%). I'm actually getting 8% cashback for Woolies purchaes right now
- I also get reimbursed for my Netflix and Spotify (worth about $40 a month)

Let me know via PM if you have any other questions - don't want to turn myself into Pomp here

 

Not sure why you mention Pomp! But he is an investor in blockfi. Also blockfi offer no insurance but use Gemini as custodians who are insured worldwide.

 

Not sure. Don’t think it will change anything to be honest.

 

I don't want to be seen clogging a thread to shill a service, that's all! As Daniel said earlier, Pomp is an investor so he shills it in every Podcast / Video he creates.

BlockFi is fine - but for me, I'm using Crypto.com every day of the week because of the benefits I get from its Earn and Cashback program. Everything else is just a bonus.

 

Definitely sounds good. Just raises a few red flags for me. I like to steer clear of ico’s and any project that’s created it’s own token which doesn’t really seem necessary. All the best though. I’ll definitely do more research and keep an eye on it.

 

Have you looked into Safex Token?

Fully decentralised and anonymous marketplace/ecosystem on it's own blockchain, flat marketplace fee of 5% and all revenue is shared amongst token holders (dividends?).

Like most altcoins it's had many hurdles to overcome and needs to be on bigger exchanges, but they're on the cusp of releasing the marketplace and therefore (from what I've seen) one of the only crypto's with a legitimate use case/working product.

If you're holding a decent bag and the marketplace starts to see decent volume, no one will want to sell due to the sharing of revenue and the token value could fly.

 

Your PPOR has the extra utility of being your home. You have to take that into account when measuring performance.

 

I thought a card wasn't available to us here in Australia? How did you get one?

 

Can confirm that they ship cards to Australia now, I've had mine since late 2019!

 

If the price of BTC were to drop 80% from current levels, what action would you take, or would this affect your strategy?

 

part of going through puberty is the purchase of some crytpo

 

@whiteknight hope the Wirecard fiasco does not affect you. I haven't read up on it so might only be contained to the EU. Either way, hope you weather it unscathed.

 

Thanks for the concern. No impact for me whatsoever - I continue to happily be using my crypto.com card

 

Much respect to you and best of luck.

Would you be able to share any good sources for information that gave you such confidence? YouTube channels, articles, websites etc.