scotview wrote:GoSeigen wrote:Thanks for the level-headed assessment from your own experience.
The above point was interesting to me: why did you not simply remove your crypto from the exchange and keep it offline (under the mattress so to speak)?
GS
Well,
1 I found it quite complicated to create a crypto currency account in the first instance, let alone download meta data.
2 Unlike, for example, real estate deeds or gold holdings being told to one or two close family, I wasn't too sure how to convey where the USB drive would be located and how a relative would "sell" the crypto assets on my demise.
3 Sometimes selling needs to be done with some urgency. Having to download data from a USB device into a crypto exchange then sell in Sterling didnt fill me with confidence.
Maybe I was being too pessimistic.
So the whole process a bit clunky still; I think my view that most Bitcoin transactions if they happen will be in "money created from thin air" AKA bitcoin derivatives AKA Paypal bitcoin AKA not real bitcoin. This was really obvious from the very first time I looked at bitcoin some 8-9 years ago but many people still talk about the "limited/finite supply" of bitcoin and blockchains and ledgers as if they have no comprehension of these limitations. It's really quite a curious phenomenon...
GS