Bitcoin....who's gotten into it?

[stalefish3169]

Probably nothing

https://squareup.com/us/en/press/202...oin-investment

Square, Inc. Invests
$50 Million in Bitcoin

OCT 08, 2020

The investment underscores Square’s purpose of economic empowerment

SAN FRANCISCO, CA – October 8, 2020 – Square, Inc. (NYSE: SQ) announced today that it has purchased approximately 4,709 bitcoins at an aggregate purchase price of $50 million. Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose. The investment represents approximately one percent of Square’s total assets as of the end of the second quarter of 2020.

“We believe that bitcoin has the potential to be a more ubiquitous currency in the future,” said Square’s Chief Financial Officer, Amrita Ahuja. “As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.”

Square has previously invested in bitcoin from a product, leadership, and legal innovation perspective, and today adds this financial investment. The company launched bitcoin trading in 2018 with Cash App, which enables the buying and selling of bitcoin. In 2019, the company formed Square Crypto, an independent team solely focused on contributing to bitcoin open-source work for the benefit of all, and also recently launched the Cryptocurrency Open Patent Alliance (COPA), a non-profit organization encouraging crypto innovation and opening access to patented crypto inventions.

Square has open sourced documentation to articulate the process behind the execution of its purchase as others consider similar strategies. The whitepaper can be found at squareup.com/investors.

About Square, Inc.
Square, Inc. (NYSE: SQ) builds tools to empower businesses and individuals to participate in the economy. Sellers use Square to reach buyers online and in-person, manage their business, and access financing. And individuals use Cash App to spend, send, store, and invest money. Square has offices in the United States, Canada, Japan, Australia, Ireland, Spain, and the UK.

Media Contact
press@squareup.com



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[stalefish3169]

PayPal to allow cryptocurrency buying, selling and shopping on its network


LONDON (Reuters) - PayPal Holdings Inc joined the cryptocurrency market on Wednesday, allowing customers to buy, sell and hold bitcoin and other virtual coins using the U.S. digital payments company's online wallets.

PayPal customers will also be able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021, the company said in a statement....



https://mobile.reuters.com/article/a...mpression=true


BTC should be going to zero any minute now.




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[stalefish3169]

Bitcoin



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[stalefish3169]

All this election news providing good cover for BTC while it marches onward.





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[stalefish3169]

Just bumping so you dudes don't sleep on the best investment of our lifetimes.

#bitcoin



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[skaredshtles]

[stalefish3169]

You mean overbought? Haha

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[ICantLogIn]

You mean overbought? Haha

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Bought yes.

Might get a good dip here.

[stalefish3169]

Bought yes.

Might get a good dip here.

This you? Haha

17k!

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[stalefish3169]

Probably nothing.


https://twitter.com/SquawkCNBC/statu...005924866?s=19

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[ICantLogIn]

2017 again?

[stalefish3169]

2017 again?

Things are way different this time. But more like late 2016 rn.



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[ICantLogIn]

Things are way different this time. But more like late 2016 rn.

Yeah? Everyone is Zooming on Thanksgiving talking up BTC, December hits BTC goes parabolic. Then it dumps out.

[stalefish3169]

Yeah? Everyone is Zooming on Thanksgiving talking up BTC, December hits BTC goes parabolic. Then it dumps out.

I don't know feels different to me. In 2017 all the big financial dudes were like, "I like blockchain, but not Bitcoin." This time they just say, "Bitcoin."


https://twitter.com/saifedean/status...413590531?s=19

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[stalefish3169]

Guess Bitcoin is going to zero again.

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[stalefish3169]

Boooooooom!

[LeeLau]

Boooooooom!

Yup! Dollar cost averaging in. A bit crazy how many chasing it. Myself included

[stalefish3169]

Yup! Dollar cost averaging in. A bit crazy how many chasing it. Myself included

Congrats!

Glad we finally hit 21k. 20k was getting boring. Lol

https://twitter.com/BloombergTV/stat...265046022?s=19

Love Bloomberg dude's gasp when Mr. 280 AUM tells him Guggenheim's price forecast is 400k.

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[JimmyCarter]

All this noise and you have 800 bucks in the wallet??


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[stalefish3169]

All this noise and you have 800 bucks in the wallet??


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That's just from my last DCA buy that I haven't moved off exchange yet. Only nOObs keep their coins on exchange.

#1 rule in crypto is not your keys, not your coins.

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[DLD in UT]

That's just from my last DCA buy that I haven't moved off exchange yet. Only nOObs keep their coins on exchange.

#1 rule in crypto is not your keys, not your coins.

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Stalefish, can you give me a primer on this? I am a noob, but luckily a noob that started buying in March and got to my full size by late summer. I have my stuff on the exchange. I get that I shouldn't keep it there, but am totally clueless about logistics, etc.

[stalefish3169]

Stalefish, can you give me a primer on this? I am a noob, but luckily a noob that started buying in March and got to my full size by late summer. I have my stuff on the exchange. I get that I shouldn't keep it there, but am totally clueless about logistics, etc.

Yeah, sure. Congrats on buying in March! That took some balls.

There are a lot of options for self storage and if you want to go that direction, now is a good time. There is a strong chance Mnuchin is going into introduce new self custody KYC-esque rules before the end of his tenure. With that being said, I'd ease into it, and start methodically moving stuff off exchanges in steps until you get comfortable with the process. Anything is possible, but I don't see the (mostly) reputable exchanges like Coinbase, Gemeni, and Kraken going insolvent or suffering massive hacks.

Hardware wallets, mainly Trezor and Ledger are your best bet if you want to store on your own. However the UI/UX is admittedly not super easy and the price of messing up is quite large....like losing everything. There are a lot of shady phishing attempts and spoofed websites waiting to steal people's shit. Google Andreas Antonopoulos and Matt Odell for best practices.

Another option is going low tech with something like https://www.amazon.com/Cryptocurrenc.../dp/B07F2ZMTD2. If you're really balling, get a few of them, securely generate private keys (offline), and don't keep the full keys in one place. Spread them between safes in different locations or safety deposit boxes...read Bitcoin Billionaires to see how the Winklevoss Twins did it. You'll definitely want to keep key backups as well.

Whatever option you choose, it's always a good idea to send small transfers to verify addresses so you don't send your whole stash to a wrong address and lose it.

Finally some of the big boys like Fidelity are getting into custody. So you might look into them, but not sure if the minimum amounts or anything.

Feel free to DM me or post here if you have additional questions!




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[LeeLau]

All this noise and you have 800 bucks in the wallet??

That's just from my last DCA buy that I haven't moved off exchange yet. Only nOObs keep their coins on exchange.

#1 rule in crypto is not your keys, not your coins.

What he said - I use shakepay to buy, and then store them on BRD

I'm also long RIOT which is basically a small hedge fund mining bitcoin that tracks it but then I can sell covered calls to generate income.

[graniteclmbr]

For new users thinking about key storage, you can use Green Wallet by Blockstream, a mobile & desktop integrated client that is easy to use. Once you get comfortable transacting and moving funds around you can get a hardware wallet and store your keys offline. Coldcard is the best hardware wallet by many accounts & allows you to use PSBTs, where your keys are permanently offline & never touch the internet directly.

Practice sending a nominal amount you don't mind losing between wallets and then practice restoring a wallet from your seed phrase. If you have more than a month or two of living expenses stored in BTC make sure your 24 word seed phrase is not stored electronically and written down and locked away somewhere safe. A bank vault, personal safe, or similar. A passphrase can be layered on top of the 24 word seed to add security through obscurity.

Never enter your seed phrase when prompted by a site or email. That is a common attack vector. Bitcoin has never been hacked but lots of users have been tricked into giving away their keys.

Dollar cost averaging produces a lot of small UTXOs that can be costly to merge or transfer when the network is congested. As the bull run matures fees will surge over the current 5-10 cents towards $10, $20, $50. Use weekends when the mempool clears to consolidate your UTXOs.

Security and UTXO hygiene go a long way to reduce stress of being your own bank.

[stalefish3169]

All I wanted for Christmas was 25k Bitcoin. Achievement unlocked! Thanks Santa! And Fuck you Mnuchin!

Bitcoin is now closer to 30k than 20k. New stimulus on deck, with further stimulus likely after Biden gets in. Negative interest rates becoming pervasive. Analysts from Citibank, Guggenheim, etc. calling for 6 figure BTC. Position yourself accordingly.


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