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RE: War on Cryptocurrencies Has Begun. Time to be Proactive. | Vlog #95

in #cryptocurrency7 years ago

I get what your'e saying, I could buy a small amount of bitcoin of let's say $100. Of course I don't have to buy a full bitcoin. That has pro's and con's. And I have experimented with some small amounts. Just to see how it works. I made some small profits. 30 - 40 USD. What I have noticed is that exchanges have a good thing going on with the fees you have to pay for every transaction. My point was just that I don't trust governments. As soon as things become too good and beautiful for ordinary people some law is made to make it hard for people again. I'm just wondering how long it will take governments in the US, Canada and Europe to come up with som legislative thing to attack the crypto's. I bet they have already been working on it for some time.

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One should never leave crypto on an exchange long term. If you're using Coinbase, you can avoid fees using this trick:

Get a hardware wallet to hold crypto long term.

Andreas Antonopoulos has important advice about holding crypto:

One of these cryptos is going to become the next Google of finance. I'm an IT person and studied Andreas Antonopoulos's book Mastering Bitcoin. The government would have to shut down the internet to eliminate bitcoin. If they do that, then they will have much bigger problems such as the survival of the government itself.