Institutions and Banks offering custody of digital assets
Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no financial advisor, trader or expert, this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, never follow what I or other people say on internet
Institutions and Banks offering custody of digital assets
This is one of those articles makes my blood boil because of the irony and hypocrecy behind the courtains, the double meaning of things, just keep in mind "not your keys not your crypto never give them out"
I'm glad Bitcoin the main crypto currency have surpass its all time high but at the same time it's not the crypto currency of "the people" anymore, many could debate if its decentralize or not, this is just my opinion of whats going on, Bitcoin is not my favorite coin and I have many other options in mind but on their own fields, Bitcoin is more like a global or average coin, it doesn't do anything else than just go up in value and anyone who say they got into crypto because of tech is full of himself.
"As usual this is my opinion, you should not follow"
I most likely own all the crypto I could talk about on this post to make it clear even Bitcoin, many say it's not decentralize from the mining and now recently economical aspect, its not the crypto currency of the people, I do agree that many are rich because of Bitcoin but they are also smart and have move part of their profits into altcoins, I own a variety of altcoins like ETH, XLM, XRP, CEL, HIVE, XMR, BEAM, LINK, BNB and many others, although my portfolio is not so big most of this coins I own because of their fundamentals and others just because they are now top crypto currencies, I got ask yesterday where Im most invested if FIAT or Crypto and at the moment it still way more on FIAT.
On 2017 the bull run was different, even I didnt know much about the market itself it felt more like a ppls market, no days with so many institutions investing such large sums amount of money, now we got @michael_saylor talking on FOX how many billions @elonmusk has, that it will demonize gold and every store of value on earth with over a trillion USD in value, he is making a terrific job at probably making many CEO and Hedge Fund to FOMO into crypto but for the average user is one Bitcoin really affordable? When so few people around the globe own the majority of Bitcoin, Microstrategy, Grayscale, Paypal, Cassh App, own the vast majority of Bitcoin and having the mayor Bitcoin miners in Asia is it really decentralize, is it really the crypto currency of the people, it's up for debate. As usual all you listen from this people is talking about the price but never about other things like privacy, security, decentralization and thats because it doesn't mean sht to them, yes most of us are in for the monies but some of us like the tech too, with how fast the money is flowing into crypto and coming from "Institutions" making assumptions that we will get back to the 1000x times it's not crazy anymore, this is just the tip of the iceberg but are we all aboard the Titanic?
"Traders are going to trade"
Watch and listen carefully to this video
https://twitter.com/NeilJacobs/status/1341504027041943552
"Bitcoin is an INSTITUTIONAL GRADE SAFE HEAVEN ASSET" OMFL when crypto whales, that probably don't have as much money as you dump, they will make you PUGE!!!
Is Bitcoin superior to Gold? Yes I do believe so just because you cant put more machinery to work to produce more BTC that is allowed per day after every halving
"Store of Value" I have heard this before...hmmm...not saying it's not but "WHEN NEXT BEAR MARKET?" It will happen don't be fool it wont it's a matter of time, crypto is so young its like fashion, seasons come and go, we started with staking then they made a few changes and now we have farming, same thing just with another name
"BITCOINS IS THE FIRST DIGITAL MONETARY NETWORK" If he research deep he will find out it's not, there were many attempts before Bitcoin from the steampunk crew but the difference was "decentralization"
"YOU CAN COLLECT AND STORE ALL THE MONEY IN THE WORLD FOR 100 YEARS AND NEVER LOOSE ANY OF IT" ...do I need to explain anything here? it's all about the money and yes I'm on the same boat partly.
I as a family head have to provide and I look for refugee on crypto because same as companies do because for every dollar that you deposit on a bank it loose value after a certain amount of time and I get that but what this people are not telling you that they really don't give 2 F about the tech, security, anonymity or anything related to the tech, at least I do because first of when official digital currencies get establish at least I will be able to use crypto and not let the rest of the world or governments how much I really own, that's my business. Once mayor crypto currencies gets regulated as now banks are becoming "digital assets" custodians they will be able to track every move you do 24/7 and part of it I think is fine but on the other hand do we want to give out 100% of that information?
I really believe that this crypto bull market will be more crazy than 2017, be prepare for more gains and more scams but at the same time be ready because right now we just surpassed Bitcoin all time highs and most likely @100trillionUSD forecast is going to play out same as @crypto_birb and this are two AWESOME traders I follow, not part of any paid group, but they have nail it every single year since I follow them so expect Bitcoin at least at $50k and remember the trend is your friend until its not so buy the dip until it doesn't work anymore because NOTHING there is no asset on HELL or HEAVEN that can go up for ever, 2017 lesson learn, traders are going to trade same as institutions so buy the dip until it doesn't work anymore and get ready to sell your bags because markets are all about cycles and we just starting this Bull Market, BNB $100, CEL $100, ETH $3K, $BTC $50K this numbers wont sound crazy when a few billion join the market because of Microstrategy FOMO probably bringing in more Institutions, except $XRP Im loosing money today on $XRP, every time feels like selling my soul but its a spot trade.
Guess whats going to happen when crypto goes down and all those "custody" ask for more collaterail? do you really think they going to ask less than DeFi dapps?
Happy trading and stay safe.
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STOPDo not miss the last post from @hivebuzz:
Thanks for sharing news!! an Italian bank "BANCA GENERALI" will begin offering the Bitcoin sale and purchase service Next year
Cryptocurrency should not become a speculative asset. It is something with power to change the world and traders are just focused on unusable relic that is BTC which is slow, not sclalable and behind in technological capabilities. Betting on BTC is like betting on dial up internet to change the world. We need high speed broadband. Cryptocurrencies like Dash and PIVX are actually trying to be digital decentralized alternative to cash instead of remaining as some "store of value".
Even HIVE is doing so much more than what BTC will probably ever accomplish in terms of real world utility on the base layer.
I have carefully read your comment. I found it interesting
Thank you!