Thank you cares act!!!! 401k is mine

[Faceplanted]

Okay.

Let's sort through this. (I'm going to do so without resorting to personal attacks. Hope that's OK with you.)

ETH is more secure than any legacy network? Lol. What?
Were you here for the DAO hack?
No. No Ethereum has a LOT of issues. As someone who can program in Solidity, I can tell you that the security boils down to the programmers, rather than the blockchain. There are SO many pitfalls you can run into. Just because no one has found an ERC20 flaw, doesn't mean it is secure. It is still massively obscure to most hackers.


Second, 120k in a BoA account is FAR more safe and secure than DAI. Hands down, just because of the mechanics.

Have you read the MakerDAO whitepaper?

The vault makers have priority over DAI holders, meaning that in any sort of emergency shutdown situation, the USD soft peg goes away completely. Hodlers are going to get hurt.



So one black swan event for Ethereum, and y'all are in trouble. Massive trouble. DAI is only as stable as the Ethereum or other tokens used to create it.

I believe in cryptocurrencies. I just don't think it is at all fair to treat all crypto like it is the God given answer to everything. It isn't.

A combination of stable coins would obviously be better, i was using dai as an example.

also, how many people lost money in the dao“hack”? It wasn’t a hack either, the smart contract worked just as intended. It was an exploit

you are welcome to depend on your bank, I will hold cash, pms, and hundreds of k crypto tokens.

 

[ManInBrown]

You’ve been investing in crypto since 2016 and still don’t understand the basics. You sound like one of those “what if they hack Bitcoin” people This is what I’m saying here. You don’t put your trust in an exchange. There are numerous exit points out of crypto, on top of that, places like ampx sell gold and silver for btc. ETH network is more secure than any legacy network, this is literally the point of blockchain. Let’s look at these 2 option.

1. Hold 120k in a Bank of America account
2. Hold 120k worth of dai token In a cold wallet where you have actual possession of your private keys

I would choose option 2 any day. i am saying option 2 is better because you are not depending on 1 single failure point (your bank). People have had issues trying to make large withdraws or even gaining access to their safe deposit boxes during the lock down. Appointments had to be made and banks were not running at full capacity. I would much rather have access to all of my money, and not depend on a bank

numerous governments around the world at one time or another have limited bank withdraws, actually taken portions of people’s accounts away, frozen peoples accounts due to “suspicious activity” changed policy and put large taxes on withdraws. These things have happened and will happen again.

it’s not far fetch at all to think that very soon, depending on witch group is in power, a donation from your bank account to a group like blm or an alt right group can result in your account being frozen and the funds seized Pending investigation for terrorism.

this cannot he done to your crypto on a hardware wallet.

you’ve been in crypto since 2016 and I guarantee you are a disgusting Nolinker.

You do realize that with crypto, to actually sell and get your hands on cash, the money would eventually end up in your bank account, correct? Either way you have to go to a bank to access cash. There isn’t a crypto cash delivery to your house.

 

[ManInBrown]

...

 

[Brownslave688]

Tell me why I had the same amount of money in both the management side and hourly side. In the same fund. And the only one that has increased is the management one. So explain that please.?

With that big brain management was certainly the right move

 

[Ou812fu]

With that big brain management was certainly the right move

Well I must have a small brain considering I'm not in management, but thanks for the compliment.

 

[Faceplanted]

You do realize that with crypto, to actually sell and get your hands on cash, the money would eventually end up in your bank account, correct? Either way you have to go to a bank to access cash. There isn’t a crypto cash delivery to your house.

100% wrong

there are numerous platforms to sell crypto for cash. Localbits is one

there are brick and mortar locations in many countries where you can walk in, send your crypto to their wallet and get cash on the spot.

There are also numerous places to buy gold/silver with crypto. Ampx is one. You can take the gold/silver to a local pawn shop or coin shop for usd

 

[ManInBrown]

100% wrong

there are numerous platforms to sell crypto for cash. Localbits is one

there are brick and mortar locations in many countries where you can walk in, send your crypto to their wallet and get cash on the spot.

There are also numerous places to buy gold/silver with crypto. Ampx is one. You can take the gold/silver to a local pawn shop or coin shop for usd

You completely misunderstood my post. I am very adept in crypto. What I said was, you do realize that to actually get your hands on cold hard cash from selling crypto, you need to go to a bank. Yes you can sell the crypto on platforms like Coinbase, but how are you going to get your hands on the actual cash without going to your bank? From CoinBase, they money is transferred to your linked bank account. CoinBase and other platforms don’t pay you for your crypto. They are a middleman in the process. And if you’re talking about just sending it to some random brick and mortar location that isn’t a bank, you are paying massive fees.

Let me give you an example. For someone that doesn’t have a linked bank account at a place like CoinBase to purchase crypto, there is something similar to an ATM machine where you can buy crypto. They are located in gas stations and other businesses. The markup on buying crypto from those machine is outrageous. Let’s say the price of a bitcoin right now is $13,000. I have no idea what it is. If you bought BTC from one of those ATM likemachines, you’re paying easily $16,000 per Bitcoin. Anything other than sending crypto directly to your account from a platform like CoinBase or to PayPal from CoinBase is highway robbery. Brick and mortar locations to sell crypto for cash, lolol. Have fun paying 1000% markup fees. You think those random brick and mortar locations are buying your crypto for cash on the spot out of the kindness of their heart? It’s similar to a check cashing place, check cashing places have people over a barrel. They know for one reason or another their customers don’t have bank accounts. The brick and mortar crypto joint is in business to make money. They’re not a charity.

 

[Faceplanted]

You completely misunderstood my post. I am very adept in crypto. What I said was, you do realize that to actually get your hands on cold hard cash from selling crypto, you need to go to a bank. Yes you can sell the crypto on platforms like Coinbase, but how are you going to get your hands on the actual cash without going to your bank? From CoinBase, they money is transferred to your linked bank account. CoinBase and other platforms don’t pay you for your crypto. They are a middleman in the process. And if you’re talking about just sending it to some random brick and mortar location that isn’t a bank, you are paying massive fees.

Let me give you an example. For someone that doesn’t have a linked bank account at a place like CoinBase to purchase crypto, there is something similar to an ATM machine where you can buy crypto. They are located in gas stations and other businesses. The markup on buying crypto from those machine is outrageous. Let’s say the price of a bitcoin right now is $13,000. I have no idea what it is. If you bought BTC from one of those ATM likemachines, you’re paying easily $16,000 per Bitcoin. Anything other than sending crypto directly to your account from a platform like CoinBase or to PayPal from CoinBase is highway robbery. Brick and mortar locations to sell crypto for cash, lolol. Have fun paying 1000% markup fees. You think those random brick and mortar locations are buying your crypto for cash on the spot out of the kindness of their heart? It’s similar to a check cashing place, check cashing places have people over a barrel. They know for one reason or another their customers don’t have bank accounts. The brick and mortar crypto joint is in business to make money. They’re not a charity.

I literally explained how

Option one.... go to localbits website. Find a buyer for the price. Meet them in the police parking lot or other safe place Transfer coins, receive cash

Option 2. go to one of the many countries that have brick and mortar btc stores. “Hi sir, I’m looking to sell 2btc”. You transfer them to the store wallet, the nice guy gives you cash. Walk out of store.

option 3. Go on www.ampx.com fill cart with gold South African krugerrands. Pay in btc. Take krugerrands to any coin dealer or pawn shop. Get cash usd

none of those options need any type of bank account. There are many more ways to do this. 1000% markup. Ya right. these 3 options I just posted will cost you 5-20% compared to coinbase, and save you 20% in taxes.

I pay my taxes and will transfer to a business account setup for this if I need to buy property or need money to start up a business via my crypto.

I’m just showing you examples of how you don’t need a bank.

 

[ManInBrown]

I literally explained how

Option one.... go to localbits website. Find a buyer for the price. Meet them in the police parking lot or other safe place Transfer coins, receive cash

Option 2. go to one of the many countries that have brick and mortar btc stores. “Hi sir, I’m looking to sell 2btc”. You transfer them to the store wallet, the nice guy gives you cash. Walk out of store.

option 3. Go on www.ampx.com fill cart with gold South African krugerrands. Pay in btc. Take krugerrands to any coin dealer or pawn shop. Get cash usd

none of those options need any type of bank account. There are many more ways to do this. 1000% markup. Ya right. these 3 options I just posted will cost you 5-20% compared to coinbase, and save you 20% in taxes.

Who the friend wants to go meet some stranger in a police parking lot to sell crypto. lol. Nah I’ll just transfer from the platform right to my bank account or PayPal for a very small fee. Thx

 

[Faceplanted]

Who the friend wants to go meet some stranger in a police parking lot to sell crypto. lol. Nah I’ll just transfer from the platform right to my bank account or PayPal for a very small fee. Thx

You said it can’t be done. I showed you 3 ways it can. Now your like I don’t want to do that. That’s good for you.

there are actual escrow services that will settle otc sales like this via smart contracts. This will be a massive industry very very soon.

I will transfer to an bank account too when cashing out. I’m not anti bank, I just don’t like the idea of large sums of money sitting in a bank account for a long amount of time.

 

[ManInBrown]

You said it can’t be done. I showed you 3 ways it can. Now your like I don’t want to do that. That’s good for you.

there are actual escrow services that will settle otc sales like this via smart contracts. This will be a massive industry very very soon.

I will transfer to an bank account too when cashing out. I’m not anti bank, I just don’t like the idea of large sums of money sitting in a bank account for a long amount of time.

Sure it can be done, by meeting some weirdo in a police parking lot, or by going to a brick and mortar place that’s in business to make money where you will pay massive fees. Nah, I’ll just transfer to my paypal or bank account for a nominal fee.

 

[Faceplanted]

Sure it can be done, by meeting some weirdo in a police parking lot, or by going to a brick and mortar place that’s in business to make money where you will pay massive fees. Nah, I’ll just transfer to my paypal or bank account for a nominal fee.

So just to clarify....we went from “needing a bank account to cash out” to, “I don’t want to cash out that way”

I recently “met some weirdo” with 17k cash to buy a car. People do this all the time....go with a friend , have guns and be aware of whats happening.

people that don’t want to pay taxes have been using a silver and gold method for years. The % loss in the coin shops is much less than the capital gains taxes you would be paying.

 

[ManInBrown]

So just to clarify....we went from “needing a bank account to cash out” to, “I don’t want to cash out that way”

people that don’t want to pay taxes have been using a silver and gold method for years. The % loss in the coin shops is much less than the capital gains taxes you would be paying.

Yeah I mean if you want to play the role of the sucker that uses check cashing places because he/she has no other options, sure you don’t need a bank. I prefer to live life as I have an 805 credit score which I do, and just use the old fashioned right to my bank account for a nominal fee.

 

[Faceplanted]

Yeah I mean if you want to play the role of the sucker that uses check cashing places because he/she has no other options, sure you don’t need a bank. I prefer to live life as I have an 805 credit score which I do, and just use the old fashioned right to my bank account for a nominal fee.

I was just showing you that you were wrong. Do whatever you want to do. It’s none of my business... also....

805

 

[ManInBrown]

. also...

805

sorry 802, I was off a couple points

 

[Faceplanted]

sorry 802, I was off a couple points

I too am a good goy. Last I checked mine was 842

 

[ManInBrown]

I too am a good goy. Last I checked mine was 842

842

 

[Faceplanted]

I

842

i agree. It’s provably closer to 1020 currently.

 

[ManInBrown]

I too am a good goy. Last I checked mine was 842

I hate to ruin story time but 842 is basically an impossible score to attain. That puts you in the top 1% of the top 1% of the top 1%. Carry on though, don’t let me ruin story time.

 

[ManInBrown]

Face planted you still around lil buddy? I just made some S’mores. Carry on with storytime