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Monday, 10 February 2020
Former Mulligan Mint CEO possibly in the middle of a crypto wallet scam.
I don't know if this is the right place for this but I am concerned that this guy might be poised to steal millions in crypto from unsuspecting customers. Rob Gray was involved in Liberty Dollar before they were shut down by the government. He was the president and CEO of Mulligan Mint before they filed for bankruptcy due to a possible Ponzi or exit scam. He has since fled the states and is manufacturing cold storage wallets out of Singapore. These wallets have gotten some buzz in the crypto community. His website is cold storage coins.com. My concern is with the way these coins are manufactured there is no way to know whether or not he has kept a copy of the private keys and given Rob Gray's track record it wouldn't surprise me in the slightest bit. I don't know what exactly anyone could do but I feel the need to at least warn people about this guy and his wallets.
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Not owning BTC vs. owning 5% BTC with "rebalancing" vs. buy and hold BTC, long term.
In each case, start with $10,000. Compare net worth from Feb 1, 2013 to Feb 1, 2020.
Case 1: Owning stocks (DJIA) and no Bitcoin. 2020-02-01 net worth: $20,431. Nice job, you've doubled your net worth.
Case 2: Buy 5% BTC, keep 95% in DJIA, rebalance each Feb 1. 2020-02-01 net worth: $82,646. Much better than owning no Bitcoin.
Case 3: Buy 5% BTC ($500, or 24.15 BTC) and then wait. (No rebalancing.) 2020-02-01 net worth: $245,158
This is why I don't rebalance.
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For a flippening to occur: Remember that anyone can get fooled into investing in a technology they don't understand (BTC). They need to USE IT to understand it. Our goal should be merchant adoption so people can compare BCH to BTC for themselves. Once they see the difference, it's game over for BTC.
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