How many of you actually have BTC as part of your portfolio?
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It exists to buy drugs and child porn. Lol Bitcoin
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This take is several years out of date.
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You are either entirely correct or 95 years old. I have no clue which.
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Gold exists as a store of value because people like shiny, which isn’t much more irrational than deciding on BTC as a store of value.
So if BTC could somehow become that stable, like if it survives a generation or two - it should probably be fine. The mining thing is problematic though.
The problem with BTC comes when govts outlaw it. It will survive, but the price will crater.
Bought some for gags during 2018 run up at about 9k USD (11.3k AUD) but I am only holding it now because I forgot it existed until a few weeks ago. I’m not holding it for any reason.
Got a bit less than 1btc at like 2400 after milking some bovada funbags on soft nfl player props before they nuked me. HODL until 100k is my strat.
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We now have publicly traded companies taking, with the approval of their stakeholders, massive positions in BTC. Love it, hate it, or indifferent to it, it’s here to stay.
I would like to know those companies so I can avoid them.
I made a 5 figure amount over 3-4 months daytrading the late 2017 shitcoin runup so I went to kucoin and binance to try and login today and see how much my scraps were and deposit and they don’t take US customers anymore? Wtf? All the US facing exchanges suck. Where am I going to bid/ask scalp poopcoin? I guess i realized nowhere and then I had a sad.
GET OFF MY LAWN!
(To be clear I agree with most of your takes on this stuff, I just think the presentation is hilariously similar to an old man yelling at the kids playing on the lawn, especially cause a lot of the people running up TSLA and such are likely dumb kids as far as investing is concerned. Not sure I agree with you on Bitcoin though, but it also hasn’t evolved into much of what it was supposed to by now and has too much viability to function as a currency IMO.)
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I wonder if Coinbase can somehow do a token on their exchange that is equivalent to a share of their stock. 300B+ market cap would not surprise me
Absolutely nothing.
Despite all the flowery language from the Winkelvii et al (the most obvious red flag in the crypto world is the character of everyone involved), at the end of the day its just a way to complete illegal transactions,.
And an incredibly complicated and pointless way to complete legal transactions.
Skimmed this and found it somewhat interesting, even if the headline is way overblown
That is a completely insane critique. So it’s not surprising that Taleb is completely on board.
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This is the time of year I do a dump into my accounts and rebalance. I do this once a year and then ignore my portfolio the rest of the year. Honestly don’t even know if I am up or down this year.
This is the first time in 20 years I feel skittish doing it!
Someone tell me to stop being an idiot and ignore the market talk. I don’t need the money for 20 years. I feel like I’m talking myself into changing my strategy and god forbid timing the market!
Help!
Isn’t the biggest test for BTC value going to be once it’s all mined out and miners now get transaction fees instead of new BTC. I feel that could go one of two ways - people stop using BTC for transactions since they don’t want to pay a transaction fee or two nothing changes other than no new BTC so prices increase due to lack of supply.
I would lean towards the former - why use BTC and pay a fee for your normal transactions when you could use other forms of payment that have no transaction fee. Also will be interesting to see if there is enough transactions to make it worthwhile for miners.
Just do what you would normally do and check again in a year. It is EXACTLY these situations (“Obviously the market is out of whack!”) where people make mistakes and why passive approaches work so well.
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