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bitcoins

Can you buy/sell/send/receive bitcoin without being a member of some site/business(bank) that reports to any government agency..?
 
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Byke- yes. There are plenty of places to buy that do not require you to be a member or give up any private information. Also you can use it in a permissionless way, send or receive from anywhere in the world. You can download a non-custodial wallet or build/buy a hardware wallet to hold it. Post up an address and I will send you some to try it out. For a software wallet you can use blue wallet, muun, or wallet of Satoshi to name a few. You will control those not the company. If you have any doubts you can go to GitHub and view the code.
 
That's great that you still can. You see bits and pieces here and there about the gov't forcing various entities to report. I wasn't sure if there were still a "cash" type of model that was a last holdout.
 
byke said:
Can you buy/sell/send/receive bitcoin without being a member of some site/business(bank) that reports to any government agency..?
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Wanna buy some BTC for cash? Show up and put greenbacks in my hand and I'll send Bitcoin to an address you specify. Note: my exchange rate is exactly 200% of the current exchange rate... so at $27188 (current market) 1BTC will cost you $54376 cash.

Happy to sell you as many bitcoin as you care to buy with this arrangement. Don't worry, I won't tell the government, or anyone else.
 
cheez said:
Happy to sell you as many bitcoin as you care to buy with this arrangement. Don't worry, I won't tell the government, or anyone else.
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I'd like to be the fly on the wall when someone shows up with $500K in a satchel asking for 10 BTC.
 
berth said:
I'd like to be the fly on the wall when someone shows up with $500K in a satchel asking for 10 BTC.
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I'm all 'bout it, bruh. I have plenty of friends who would show up for security if I kicked 'em each $500.

Back when they were trading between $8-30 I sold a few thousand BTC in face to face transactions. It wasn't ever really sketchy, I just made sure before I hit send that I had cash in hand and that they confirmed the receive address. It used to take about 10 minutes to get a confirmation so we'd meet at a Starbucks and hang out until they saw a confirmation, then shake hands and that was it. Back then I was charging a 25% premium over Mt Gox prices.

If I held all the BTC I bought/sold I'd be literally a billionaire. As it is the gains I made on BTC helped finance my move from Texas to California, so I can't complain loudly, but fuck I'd like to be Pineapple Fund rich.
 
Step 2 of the removal from the gold standard.
 
Last 15 years.
 

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Well today was interesting. Apparently someone hacked the SEC's Twitter account and posted a fake approval of the Bitcoin ETF.

Then this happened:
coindesk_data.png


The spike happened, then the announcement that it was fake, then the immediate pullback.

Someone just made a bunch of money gaming the system.

https://www.theverge.com/2024/1/9/24032095/bitcoin-etf-sec-fake-tweet-x-gary-gensler

The Securities and Exchange Commission’s official social media account on X (formerly Twitter) posted a notice on Tuesday evening claiming it had approved listings for Bitcoin exchange-traded funds, or ETFs, which has since been deleted. Moments later, SEC Chair Gary Gensler said in a post on his own account that the agency’s account was “compromised, and an unauthorized tweet was posted.”

The SEC followed up with a post reiterating Gensler’s statement about the hack, and a spokesperson from the agency confirmed that statement to CNBC. The SEC also confirmed to CNBC that an “unknown party” had accessed its account.

The post from the SEC’s account said, “Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities. The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection.” It included an image of Gensler next to the quote, but it was clearly missing any link to the SEC’s website that would normally accompany this kind of news.
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Reddit thinks this was done by the SEC on purpose.

https://www.reddit.com/r/Bitcoin/comments/192r318/gary_gensler_rugged_us/

On October 16th, 2023, the official U.S. Securities and Exchange Commission's Twitter/X account posted "Careful what you read on the internet. The best source of information about the SEC is the SEC."

Today, the SEC and Gary Gensler rugged us. People lost tens if not hundreds of millions due to short and long liquidations.
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