I just bought 1 more ETH for USD$1,203.20 in cash. I now have a total of 253.38 ETH, of which 251.365 are staked at the current yield of 3.87% APY in ETH rewards. I will continue to buy more ETH during this SBF/FTX crash. IMO you all should do the same, if you are not in full position yet. GLTA!!!
SBF’s FTX is dumping their crypto assets to prop up its FTT token. Solana first to go… now it’s ETH, BTC. The total ETH held in the FTX main wallet dropped from 322K to 32K. The forced selling maybe near the end? Maybe a good time to add more ETH for those who are not in full position yet IMO. GLTA!
Official statement from one of the most important Central Banks in the world about something which is "dying, speculative, risky and used for illegal activities"... Ok. If that is so, how come the regulators are not going after it like they do with drugs, money laundering, arms, investment frauds, etc.. ? Because they can't and the only effect they fear is the Streisand effect. [https://en.wikipedia.org/wiki/Streisand\_effect](https://en.wikipedia.org/wiki/Streisand_effect) ​ IMO the only thing that could save the Euro, Dollar, Yen.. could be that they peg it to the Bitcoin Standard. Still, wether if they peg it or not, the Central Banks power would dissapear.
Hi op. Interesting read. Do you know if sbf repaid blockfi’s loan by the time the latter is in distress? Why did not blockfi recall the loan to sbf at that time? The bailout money, was it a loan or to purchase stakes in blockfi? Also, I don’t think SBF was wrong to opt to use a fresh loan to bail out blockfi, because if he alternatively sells his HOOD shares to fund the bail out, it would be a bloody red day or month for HOOD, and his shares would be worth much less. He did however commit fraud IMO to use borrowed asset as a collateral. But that does not mean choosing to get a loan rather than selling the shares for cash is in itself wrong or unwise. Now about blockfi, if they claim the robinhood shares belong to them, wouldn’t FTC counter sue and ask the bailout money back?
good distinction is they're clearly staking on your behalf and taking some of the rewards. That's not really all that bad, IMO. Especially when juxtaposed with the scheme OP is trying to draw equivalence to, namely the suspiciously high and unsustainable rewards offered by Celcius, FTX, etc.
The IBC is pretty revolutionary, it’ll provide the best technical cross chain communication of any Crypto. At this point it’s anyone’s guess as to how good ATOM will do, but I love the project so much. It has a chance to actually improve Governance for the first time since 1776 IMO
This is getting quite off the topic of DAOs on my part, but something you said struck a nerve for me. >You don't have to use your power as part of the governing body, but you remove the ability to complain about the outcome if you don't. While I understand why people believe this I simply don't agree with it. To me not voting is basically a sign of no confidence, a type of illegitimacy score. It's most prominent in first-past-the-post systems but IMO applies to all types of voting. If you are given a choice between eating horse shit and cow shit and you refuse to participate, that doesn't mean you can't point out that both of the options are shit, albeit from different animals. The only even somewhat solution I see to this problem is that let's say a governing body has 100 seats, if voter turn out is only 60% then only 60 of those 100 seats gets assigned based the votes cast. In future, at least hopefully, concern is given to why people didn't vote more as it's a valid road to gain more seats. Not that such system will ever be applied. On a different note even if being part of DAO like you described didn't offer direct financial gain, there is most likely ways to gain other valuable "currencies" like prestige, networking, etc. You eluded to that as selfish motivators, but then somehow attributed it to a top-down structure. I don't really understand why so. Even in bottom-up structure if you amass those intangible currencies you're way more likely to get a vote go the way you want then someone who didn't. Even if in an organization you were of the same "rank" as everyone, if you are what could possibly be described as a thought leader what is actually happening is you are turning said organization to a top-down structure, just an informal one. I'd say that there's benefits to both formal and informal structure, but I wouldn't at least at this time go so far as to argue one to be superior to another. As for the "community" part, my question is. Community of what? If it's a loose community around same/similar interest then what is the voting for? If it's a community that tries to achieve something then more than likely some kind of resource management would be involved then voting can make sense, but then we get back to what was discussed previously. Don't get me wrong, I would very much like, for lack of better phrasing, your idea/how you see DAO's potential to work. I just can't make it make sense in my head.
Who asked why ETH is sketch. They just moved to a staking model and the vast majority of voting tokens are held by people that the founders worked with to hide their identity. Not knowing who controls the voting outcomes of any decision on the chain and what their intentions are, is pretty sketch IMO.
Kudos to panic selling!! :D On the other hand... guy marries girl for green card, girl loans guy $40,000 so he can buy crypto. Crypto explodes, he up to $700,000 in shit coin money (zil). I tell him cash out at least half (he a broke boy otherwise). He makes down payment on house. He tells me he will pay back wife the $40,000 (profit is his). 1 yr later, guy never cashed out any. Crypto down to $25,000 or something. Tells wife she can have 'her share' - $10,000 or something, and the mortgage payments. 'Breaks up with wife' by doing a sex romp in Cancun with a Russian swinger chick. Sends sex video to wife friends... they share it with wife. Wife teams up with baby mom (previous relationship), claims spousal abuse (unlikely). Friends hints I should assist with this $50k+ lawyer fees... I'm like, son, take a seat, grab a hot chocolate and lets talk.. :P So ya - took huge gamble with others money - was only going to pay back others the principle (no gains) - kept 'doubling down' (no cash out) - eventually loses it all.. burns bridges.. and ya, there you go.. back to Bilbo Beggin' status. As a general rule ALWAYS cash out 10%.. you'll never miss the bull run b/c you cashed out 10%... But (obviously in hindsight) guessing peaks and cashing out 30%+ is better.. I cashed out 30% at peak (roughly), but lost it all on reinvestments on the way down, so whatevs... basically I ended up semi-neutral when it's all said and done, which isn't bad for a 70% drop. Biggest f-ups.. cashing out heavily at $40k.. rebuying at $50k 'FOMO BABY'.. and my first investment in Terra was when it was $0.70... sold that for like $0.30. So I make mistakes too.. But even if crypto burned, for the most part... I'd be semi OK. Like sustained $9k BTC would hurt, but not kill. If next BTC bull run, BTC can't break $30k easily, I'll be hurting.. Most of my bets these days are that BTC will hit $30k by Jan, 2025. That pays 5 to 1 (or even 20 to 1) in the odd markets (MSTR call spreads). Example: Buy $310 MSTR call, Sell $330 MSTR call ($20 spread), Jan 2025.. That costs $2.50 paying $20 - 8x investment. Unlike margin, you can't get busted in-between. But there is 'MSTR risk'. Next halving round April, 2024.. so if BTC $30k+ a few months after that, any bets I make at today's prices pay 8 to 1, more or less.. a good deal IMO.
I believe he will end up in prison and guarantee politicians who received political donations from him are trying to shy away from this whole mess as much as they can. Tornado cash developers were not arrested from one day to the next because they were not in American soil, it took them a good amount of time to investigate and bring them to "justice". The guy from silk roads was on american soil, and allowing for the sale of illegal substances in his market place and profiting from them, which is understanbly a nono in the eyes of the law. Dont get me wrong I think this guys deserve to be free more than SBF, but SBF is not in American soil and extradition doesn't have amazon prime day shipping. I think sooner or later will see a picture of him behind bars and with a bullet between his eyes. SBF is fucked if you ask me. Very dangerous people lost a lot of money and these are not the type of people that file a police report. I don't see a world where SBF gets to live a long and happy life. There is a chance it might be long, but I guarantee he wont be happy because if its long, he will end up in jail for a decade or more at least. Look how long it took to put Elizabeth Holmes in jail, she got 12 years for hunderds of millions from a few wealthy VCs. This guy took billions from all kinds of people, VCs, billionaires, common folks around the world, many regular Americans, plus Drug dealers, corrupt politicians around the world, human traffickers and all kinds of very dangerous people. IMO he is fucked and his days of freedom or potentially his days alive are counted. If he goes to jail, it will be a Bernie Maddoff type of scenario, and if he disappears, it wont be because he ran, it will be because he is dead.
Neither are good. A closed-source wallet is as bad as leaving your Bitcoin on an exchange IMO and maybe it is worse. [https://walletscrutiny.com/android/exodusmovement.exodus/](https://walletscrutiny.com/android/exodusmovement.exodus/) \+ [https://walletscrutiny.com/android/com.coinomi.wallet/](https://walletscrutiny.com/android/com.coinomi.wallet/) What do you want/need from a mobile wallet? I like Bluewallet or Phoenix. But ledger live is also quite good on mobile if you got the hardware.
I'm not sure why so many are hung up on ''retail coming back'' or ''we need millions of people to adopt crypto for the prices to go back up''. Full disclosure, this market is rife with manipulation & is basically volume, order flow & leverage trading at this point. Buy walls at certain prices & increased volume alone could be enough to pump the market cap back to $1-1.5 trillion. 100% gain from that point would not be unreasonable at some point next year if for instance any of the following happen: \- Interest rates get frozen at some point (seems likely) \- Inflation meaningfully reduces \- US somehow avoid ''guaranteed recession'' \- The elusive ''Fed Pivot'' people are obsessed with \- Resolution to the war \- Something like Tesla accepting crypto payments again to kickstart a short-term narrative \- Literally just a quiet few months of news ​ Forget new ATHs, no one knows when that can happen, but this idea that we need utopia economically for this market to pump again is misguided IMO.
Tether will be fine so long as it continues to buy US government debt. They need that subsidy on interest rates. If Tether dumps its treasuries, there could potentially be issues in the US financial system. That's the only explanation IMO.
IMO as far as stable coins safety go USDC ≈ BUSD > USDT. If you want to do the swap on CEX with low fees you could use Nexo. They allow deposits of USDT using most ERC20 or Matic, conversion to USDC with 0.1% fee (same as Binance) and one free withdrawal on ERC20 (more if you hold their token, plus any amount of free withdrawals if you use an L2 chain).
Education and rate of adoption could never change the fact that some will adopt early and some will adopt late. The point is that only a few hold bitcoin while the supply is exhausted. If more and more people want to buy bitcoin the value goes up. Financially this grossly benefits those that already have bitcoin and there has never been any plan to distribute it fairly to everyone. That task is not manageable unless you are a nation states. Bitcoin does not expand or contract the money supply in accordance with adoption, or potentially cause inflation as a vent if the rich got too rich. Bitcoin will as long adoption is increased and keys are lost, always reward early adopters. This is viewed as a feature and not a bug, but IMO it leads to dystopian nightmare situations where the bitcoin rich have all the power. (The solution to this could be to abandon bitcoin) Bitcoin is not a tool for political management and I don't think the world will be a better place (over a long period of time) if it is used as an international payment medium by people, corporations and nation states.
For anyone wondering - no you didn’t fall asleep and miss Web4. What they’ve supposedly done is add Web2 and Web3 together to create Web5. It doesn’t make a lot of sense to me because the whole evolution of the internet isn’t something that needs to be invented IMO. If Web 1.0 was Read, Web 2.0 was Read and Write then Web 3.0 is meant to be Read, Write and Own. If so then Web5 is basically just Web 3.0 that we are still waiting to kick off.
The implicit backing of DCG is why people trusted and lent to Genesis and why they were able to offer lending to all gemini customers. It is not a surprise when 3ac occurred (resulting in massive losses for Genesis) DCG had no choice but to assume the loss to ensure the continued operation of Genesis lending - otherwise they would have entered BK at that point and stopped accepting new loans. The other issue is that according to Genesis their lending division only lost 7m with FTX, while their trading desk had \~180m in exposure. So why BK lending? You already \*legally\* promised to cover the loss from 3ac (although reportedly you gave yourself 10 years to do it). Unless there are other lending losses we are not aware of the only purpose for a BK would be to drag lenders into a negotiation to accept less than their contractually obligated payments due to the duration of the promissory note for a debt DCG already "promised" to cover. It's all too intertwined at this point, IMO. I'm not a lawyer this is all just my opinion not advice.
"ASIC resistant pow algorithms is basically dead" "Only something like cryptonight that literally threatens to make defensive changes to squash ASICs can do that" Meaning its not dead. And certainly working. Asics are such a waste of energy all around IMO. From production through its life. No good except for massively parallel folding of sha and similar. Maybe a bit of heat as a byproduct. But otherwise pretty useless as an appliance The more accessible and common hardware is the more decentralised the network can become. Which means mining running most efficiently on cpu's due to complexity of algorithm. And the threat to change again which effectively bricks all current asics, making development too risky. Decentralisation and censorship resistance of mining is crucial. Else we may as well have an institution run a database. Ah wait.... we got that already...I thought we were uncoupling from that. Monero is currently doing the best job at asic resistance and theoretically decentralisation. Even GPU is hobbled in terms of hash compared to CPU. Yes you want a fat Ryzen with as many cores as you can afford to get some hash but the resulting PC will be great for many other things and certainly not bricked. Consolidation of hash via pools is another matter and more tricky to control. Basically it becomes a plead to the community to switch pools when ratio goes too high for one.
Recession, inflation, CEX issues, crypto isn’t going to pump anytime soon. Even if the bottom is in, which I personally doubt, it’s crabwalk for a while IMO. but if you believe crypto is going to stick around, then it’s a great time to DCA.
Yes, this was exactly what happened. We were finally able to clear things up with Swan and they re-activated our accounts. I get that they were trying to be careful but their onboarding process was quite extensive, even requiring live photos of your face, left right and center along with an ID and bank statement showing sufficient funds. This should have been able to pass any suspicions that they had that this was fraud. I did this for both mine and our family business account. My mom went through this on hers. I get that they want to be careful but their KYC process is very fool-proof IMO. ​ They should have given me a proper explanation in their initial email as well. It just left a really bad taste in my mouth when they decided to close our accounts without recourse.
Tether is such a scam. If there was a bank run on it ultimately it will crash. They are banking on no bank run. Anyone reading this who is holding tether or anything paired with tether be very very careful. There are so many warning signs that it's not worth the risk. It's not like tether will pump to $20 or something. IMO you are better off with Shiba Inu or babydogecoin because those can run. Tether can't run. Also Shiba and babydoge could easily go to zero.
Yes, this is what they said in the end. But they should have noted this in their initial email, IMO. I would have been able to resolve this with them in an amicable manner, instead of giving me a dead end and leaving me frustrated, looking for a place to vent my anger.
You seemed to be worried… mass adoption is still coming. FTX bad…but good publicity. Crypto still has good actors. Maybe some bullshit regulations will come of this to onboard the lame people. Bull run is still a year or more away. IMO
there's a difference between sovereign money and sovereign citizens - the former is bitcoin, the latter is a bunch of morons who can't accept reality making fools of themselves on the youtube... one definition to consider- "Self-governing; independent." which IMO describes bitcoin really well, in essence, rules without rulers.
The fidelity product is to lure in unsuspecting rubes so they can provide liquidity and lose their money to institutions. It’s not even trading/buying/selling actual crypto anyways, it reads like a CFD (contract for difference) setup, especially since you cannot even withdraw the coins to your own wallet. This is basically a bucket shop for crypto IMO.
Respectfully, I think your response has some bitcoin maximalist toxicity in it. Not a lot, but a little! I love bitcoin. I love its purity, I love its simplicity, I love the ideas that it has spawned. Some of those ideas, including Vitalik’s concept of on-chain decentralised code, allow us to make products and services that weren’t possible before. Like all emerging technology, some things work and some don’t and scammers will try and take advantage, but to write off anything other that Bitcoin as ‘shitcoins’ is not a nuanced position and comes across as bitcoin maximalism. IMO.
I agree in principle. Sentiment wise, the fact that people are still talking and feeling emotions--good or bad--is generally a sign that we aren't at the bottom yet. The bottom theoretically comes when people are dead inside, have lost hope, don't care, have moved on, etc. Where things get weird IMO is how different the specific circumstances are this time. For one thing, the 2018 bear run was largely due to a realization of what crypto DIDN'T do. That is, once the veil of hopium was cleared away, most projects were revealed to be little more than ideas, many of them bad ideas or outright scams. This time around the bear run is being precipitated by what crypto DID do. That is, most of these DeFi-related implosions involved projects that were really doing real stuff in the real world, but in a flawed, unsustainable way that wasn't intrinsic to crypto itself. Even doing something badly is a step beyond where things were in 2018, so it's easier to hold on to the idea that practical utility and real-world integration are possible, not just pipe dreams. Or to put it another way, most of the failures this time have been with implementation, not with the underlying technology, so even during the bear market it's easier to believe in a future for that technology if the "bad eggs" can be cleared out. Second, in addition to the crypto-intrinsic factors driving bearish sentiment, there is a whole suite of crypto-extrinsic factors this time that weren't in play in 2018. The macroecnomic situation is totally different, and frankly unprecdented in crypto's history--stuff like recessions, inflation, large-scale geopolitical instability and unrest, etc. On the one hand, this makes a case for why recovery may well take longer than it did in 2018, but on the other hand it provides something else to blame. Like, it's easier for people to say *it's not all crypto's fault; crypto is fine, we just have to wait for the global economy to sort itself out*. I guess what I'm saying is that even though I agree that this doesn't feel like the bottom, it's probably also true that, just like past performance doesn't predict the future, past bearish sentiment doesn't predict future bearish sentiment. The emotional journey may well be different this time around, because it's easier to point to definite, specific causes for the crash that have definite, specific paths to resolution. I'm not arguing that such views will or won't prove correct over the long term, but I think they may change the flavour of this bear run in ways that make it difficult read the room based on the experience of 2018. (Yes, it's also true that there's now a larger, more mainstream group of people that know about, and are presumably pissed off at, crypto, and this will probably add barriers to recovery. I'm not suggesting otherwise, but to me that's somewhat separate from sentiment within the cryptospace itself.)
First at all have this is wholesome, have an Award! But no matter what, I will DCA every month. Even if it is a tiny amount. IMO these prices are too juicy. You all heard it 1000 times but DCA is the right thing to do here if you ask me. Stay safe everyone!
People still think the fed will pivot, stocks will rally to new all time highs and bitcoin will follow stocks. I believe everything is about to crash in a big deleveraging because of rising rates (stocks bonds and real estate) while inflation keeps raging higher. This will cause gold to rally and bitcoin will follow gold higher. So IMO everything keeps falling while gold and bitcoin enter a multi year bull market. Note: crypto keeps falling alongside tech stocks because crypto isnt money its a tech play. Only bitcoin is money.
Seriously, showing cry worthy losses. However no real ones (yet) without sell, at this point of lows why bother? So hodl like it's 2017 punks, whale wait and see, alls whale that ends whale... as a pilot fish I shall still raise a toast to hope (or perhaps eventually, to lessons learned) Maybe with the Lambo hopefuls outa the way, we can get back to the tech and improve on what decentralized blockchain can actually do (dev more security, shake out the crapcoinage and scams, and un-corrupt some stuff) That would IMO, incentivize the re-rise...
>Dividends and distributions come from actual profits from the company. Crypto yield comes from what? Staking? Which is essentially just Inflating the token? Fees? Lending? Crypto yield comes from facilitating financial rails for commerce to take place. If someone wants to use a blockchain they need a blockchain to use first, similiar to how if you want internet you need to pay your ISP bill first. People spend around $2M a day *buying* Ethereum *blockspace* lately. If someone wants to use Ethereum they need to pay for it. That fee makes up *more than half* the income generated from staking. Staking is like mining and means to build blocks, order transactions, secure the network, and provides an income for this service. Combined with the fee burn, which essentially acts as a sale-based divendend, the chain is around 0% net inflationary in the face of stakers earning ~10% APY. Lending is a legitimate income stream. There are very genuine reasons to borrow crypto, the most common likely being basic leverage, to hedge or bet on the market, less common is tax avoidance, but both are legitimate reasons to borrow. By facilitating this service for people, through trustless and permissionless code, you're generating an honest income. >With crypto you're essentially just hoping to time the market and make a profit with capital gains. If you have your dividend paying stocks in a tax advantaged account then you don't even gaf about taxes or timing the market and all that BS If you're staking or mining you DGAF about short term price movements either. If it takes three years for the best preforming asset of all time to come back you'll have 30%+ more than when you started if that's all you're worried about. I can not *buy* as much as I can earn via staking in the same time. With crypto you have to be really dumb or really impatient to mistime the market so badly that you aren't in profit almost immediately (>4 years). Both the stock market and crypto markets rely on easy money to preform well. By investing in crypto I'm investing in *all* of its activity - rather ETH acts as an index for DeFi, NFTs, art, games, and everything fun to do here (like using Disney, Meta, Reddit) - because of the fee burn that gives back to investors. If I invest in one company they will not see as much activity, not make as much profit, or get a fraction of the easy money given to them, as Ethereum will in the same environment. Why take on that bet? You can not convince me an index fund will outperform ETH this decade. When the fun stops and crypto is no longer the best preforming asset of all time I'll strongly reconsider. This market is still emerging and very much in price discovery. I don't see a better place to park my money at all. Volitility is a massive feature IMO as without systematic bailouts the price offered is legitimate, the price you actually deserve, or there'd be no gains left for anyone. The other half of my investments are all extremely low-risk if that helps make some sense out of my strategy. Everything between low risk to high risk feels like bullshit. The numbers are good until the minute they're not and an algorithm takes 2 years of gains away like *that*. 97% of stocks make no sense to bet on aside from number go up, but then I may as well stay here and watch my number go up more. Try again in 5 years if we haven't recovered, by then I'll need to hear it.
Because the exchange doesn’t have the Bitcoin. It’s like a poker game. Once you call in your Bitcoin, they have to show their cards and scramble to buy Bitcoin to satisfy your withdrawal. They either honor your request or go bankrupt and screw you. If they honor their commitment, that should drive demand, IMO. Unfortunately they are crooks with no ethics and end up stealing your money.
Yes you are correct Nexo are writing “audit” on their website, but IMO they should really change this wording as it is misleading. If you open the link I provided (or same link directly from Nexo’s website) and download the PDF report, you will notice that nowhere in the document is the firm who produced it referring to it as an audit. This is no coincidence.
Why are all these CEO’s pointing towards each other. IMO makes them look a bit stupid and doing ‘foreign politics’. Just look at yourself, prove you have your s*^t together, instead of bashing each other and make crypto as a whole look as a scam.
You said "real utility" but didn't provide an example. A digital USD would likely have real utility as it would be widely accepted and have a relatively stable value, which IMO are needed to be used as a currency. Existing stable coins aren't widely accepted and have long tail risks of collapse.
IMO: Bitcoin is hope for humanity against the tyranny from fiat cartels. It’s the Neo to the matrix. It’s FU money to anyone threatening your liberty and freedom of life . Once you get orange pilled there is no going back. You can’t unsee what you saw.
The technology changing the way we transact on the day to day still being relatively young. And the 4 year cycle that seems to correspond with the bitcoin halving. IMO if I spend the next year or so accumulating as much BTC as I can, I will be looking alright 2024-2025 and I will be looking great by 2028-2029. Also the Fed can't help itself but to print more money, it's only a matter of time.
I think eltoo is the most interesting, but I do have some concerns about it. Namely that from my understanding there's no "justice transaction" in eltoo. If someone tries to cheat you out of your funds, you just publish the latest channel state, without any sort of punishment. Which means that an attacker could try to close a channel and risk losing just the transaction fees (and maybe some reputation), but not much else. IMO the watchtower/justice transaction model is really good. It means that the other side can never be sure if they'll be caught, since even if you're known to be offline, a watchtower could be protecting you, and the attacker risks losing all of their funds in the channel. Which means even if you're not responsible with setting up a watchtower, an attacker still wouldn't try risking it.
>whats the point of bitcoin gold As mention, it is because you need to use special hardware to mine BTC while BTG is limited to GPU mining. That's pretty much it. Personally, I rarely mine BTG unless if I need quick cash. Like IMO this isn't a long term hold. The mining part of it is already covered by a number of other coins.
No problem! Also, maybe test the waters selling smallish amounts on a few reputable exchanges, then if there are no issues receiving the money, keep increasing the amount until you sell everything. Coinbase, kraken, and gemini would be my go-to since they are US based and accountable IMO
This is an overlooked opinion IMO. I agree that this will likely have a big impact on next bull run for BTC and ETH. I'll be curious to see what impact places like Fidelity offering ETH and BTC trading will have on 2024-2025 as well. Many people will never self custody and the zero fee trading will rope people in and likely draw more money into the space on the retail side as well for BTC and ETH. A lot of people who wouldn't trust the Kraken and Coinbases of the world will likely trust Fidelity just because of the name.
For a data leak there's not much you can do if it happens again but it has nothing to do with the safety of your Bitcoin, it's just that someone else can see you bought a Ledger. For the safety of the device you can consider an open source Bitcoin only but that's up to you to research. I've used Ledger's for 5 years no issues but I was just lucky I bought from one of their resellers. If you move over to an open source just create a new seed, don't recover the seed the closed source Ledger created IMO.
Everyone in this thread: *forgets Coldcard exists* Coinkite’s policy on being a Bitcoin-only company reduces the surface area for attack vectors by a magnitude of 10 IMO. Shitcoin support is bound to impact those risks. On top of that, clear case with schematics to compare. No evil maid attacks. 2 stage PIN. “25th word” passcode. Air-gapped (uses SD cards to sign skeleton transactions offline)
OP, IMO you should take from this thread that, if you believe in Bitcoin’s value and you have the money to spend on it, it would be a very good idea to buy some. You don’t have to lie to your dad but you don’t have to tell him. Even though it’s your dad, you don’t want financial decisions to turn into a pissing match. Also IMO, if you have a solid/cool relationship with your dad, don’t let the internet convince you his going to scam you. Although as you get older, you will see family can be funny about money, random internet strangers don’t know your dad like you know you dad.