Search found 368 matches

by bitcoininthevp
Sun Oct 24, 2021 9:00 am
Forum: Gold
Topic: Gold outflows, bitcoin inflows
Replies: 55
Views: 3894

Re: Gold outflows, bitcoin inflows

It might be the minimum complexity to achieve what it does, but it's still much more complex than gold. I think its unfair to look at gold at the "physical rock" high level summary and view bitcoin at the "look at the complicated codes and proof of work and ... details" low level details and then c...
by bitcoininthevp
Sun Oct 24, 2021 8:52 am
Forum: Gold
Topic: Gold outflows, bitcoin inflows
Replies: 55
Views: 3894

Re: Gold outflows, bitcoin inflows

Blatant advertising/spamming of a vile ponzi system that clearly advances laundering. Similar to Tor in many ways. Feel no need to get of my ass and learn its intricacies as that just leads down a pathway where the great minds behind it will be confronted with even greater minds looking to compromi...
by bitcoininthevp
Thu Oct 21, 2021 3:04 pm
Forum: Variable Portfolio Discussion
Topic: Houston Firefighters Pension Fund Makes Bitcoin, Ether Purchase
Replies: 9
Views: 347

Houston Firefighters Pension Fund Makes Bitcoin, Ether Purchase

"The fund has invested $25 million in crypto in what appears to be a first for a U.S. public pension plan."

Another domino to fall.

https://www.coindesk.com/business/2021/ ... -purchase/
by bitcoininthevp
Thu Oct 21, 2021 3:01 pm
Forum: Gold
Topic: Gold outflows, bitcoin inflows
Replies: 55
Views: 3894

Re: Gold outflows, bitcoin inflows

I think what this shows is that some people are willing to comment on topics and make definitive conclusions about something without actually having done any research into the subject matter. I believe everyone is entitled to their personal opinions but when it comes to facts, it would help to take...
by bitcoininthevp
Thu Oct 21, 2021 2:59 pm
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

I like this take: You hold a monetary asset to defer an investment or consumption decision into the future. via https://twitter.com/BitcoinIsSaving/status/1155522254593241089 Whole tweet: A savings product is any kind of asset whose end-use is not consumption or investment. Examples include bitcoin,...
by bitcoininthevp
Thu Oct 21, 2021 12:06 pm
Forum: Permanent Portfolio Discussion
Topic: A worthwhile read for all PP'ers
Replies: 29
Views: 1049

Re: A worthwhile read for all PP'ers

If you take out the long bonds, you are speculating that there will not be continued deflation. Likewise with cash/cash equivalents. Harry mentioned Gold is the worlds second favorite money. And it actually ISNT a good inflation hedge in the short term/smaller inflations. I could see a holding of BT...
by bitcoininthevp
Thu Oct 21, 2021 11:53 am
Forum: Gold
Topic: Gold outflows, bitcoin inflows
Replies: 55
Views: 3894

Re: Gold outflows, bitcoin inflows

Im curious if bitcoin really is becoming a competitor to gold. Distinctly different, similar to the difference between traditional art and digital art. This is a bit vague. Sure the digital vs non-digital difference between gold/bitcoin is there, that’s obvious. But are you tryin to say something b...
by bitcoininthevp
Wed Oct 20, 2021 1:40 pm
Forum: Permanent Portfolio Discussion
Topic: A worthwhile read for all PP'ers
Replies: 29
Views: 1049

Re: A worthwhile read for all PP'ers

I think the author's point is that more and more crypto currencies can be created. There is not a monopoly crypto. That has always been my biggest hang up. You can spin up more and more cryptocurrencies, sure! But its not about the code. The code can be copied and pasted a million times, so that co...
by bitcoininthevp
Wed Oct 20, 2021 1:30 pm
Forum: Permanent Portfolio Discussion
Topic: A worthwhile read for all PP'ers
Replies: 29
Views: 1049

Re: A worthwhile read for all PP'ers

Which is a fancy way of saying that Bitcoin and other cryptocurrencies are very much like any other fiat currency except in their case no government behind them or regulating them. In what ways is BTC like USD? it's his observations about - and questions about, going forward - cryptocurrencies of a...
by bitcoininthevp
Wed Oct 20, 2021 1:27 pm
Forum: Permanent Portfolio Discussion
Topic: A worthwhile read for all PP'ers
Replies: 29
Views: 1049

Re: A worthwhile read for all PP'ers

Here's how, sorry for the preachy tone but it's too much work to re-write now. :) (And using the term BTC very generically or broadly.) Suppose eventually that BTC becomes fairly stable and transactional. Suppose there are people who are accumulating savings in BTC. Suppose a BTC bank offers them i...
by bitcoininthevp
Wed Oct 20, 2021 1:20 pm
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

Nope…..escape velocity is too great at this point. (There will be more battles….but Bitcoin has already won). You just don’t realize it yet. (Spoiler alert - this isn’t a recent win this happened nearly 5 years ago……it takes time for the main populace to realize this and feel comfortable conforming...
by bitcoininthevp
Wed Oct 20, 2021 11:26 am
Forum: Gold
Topic: Gold outflows, bitcoin inflows
Replies: 55
Views: 3894

Re: Gold outflows, bitcoin inflows

Im curious if bitcoin really is becoming a competitor to gold. Distinctly different, similar to the difference between traditional art and digital art. This is a bit vague. Sure the digital vs non-digital difference between gold/bitcoin is there, that’s obvious. But are you tryin to say something b...
by bitcoininthevp
Wed Oct 20, 2021 11:24 am
Forum: Gold
Topic: Did Bitcoin Kill Gold’s Monetary Utility?
Replies: 4
Views: 248

Re: Did Bitcoin Kill Gold’s Monetary Utility?

Yet while $6T was pumped into the US economy, nominal interest rates have remained very low, and real interest rates have remained very negative. That's a wildcard to me, when it comes to looking at gold prices. Gold doesn't have to go up to remain competitive with fiat cash. Agreed. Big moneys in ...
by bitcoininthevp
Wed Oct 20, 2021 11:17 am
Forum: Permanent Portfolio Discussion
Topic: A worthwhile read for all PP'ers
Replies: 29
Views: 1049

Re: A worthwhile read for all PP'ers

After all, all crypto is endogenous in the sense that it is literally created from nothing and can be borrowed into existence in exactly the same way that modern banks create synthetic “dollars” from nothing when they make loans. A “fractionally reserved” Bitcoin system with endogenous lending coul...
by bitcoininthevp
Wed Oct 20, 2021 11:09 am
Forum: Gold
Topic: Did Bitcoin Kill Gold’s Monetary Utility?
Replies: 4
Views: 248

Re: Did Bitcoin Kill Gold’s Monetary Utility?

Here is a related thread: https://www.gyroscopicinvesting.com/forum/viewtopic.php?f=5&t=11753 Also, not crypto, Bitcoin. Here are some of my thoughts on Gold v Bitcoin "It performs none of the functions expected of gold." I assume you mean gold's functions as money. Here are some valuable characteri...
by bitcoininthevp
Tue Oct 19, 2021 9:50 am
Forum: Variable Portfolio Discussion
Topic: Bitcoin's U.S. ETF begins trading
Replies: 1
Views: 165

Bitcoin's U.S. ETF begins trading

It is a Bitcoin CME futures backed ETF from ProShares, ticker BITO. https://www.cnbc.com/2021/10/19/bitcoin-rises-back-toward-record-as-first-related-us-etf-begins-trading.html Do new developments like this change anyones mind about Bitcoin? Or do all the Bitcoin bulls get more bullish and Bitcoin b...
by bitcoininthevp
Mon Oct 18, 2021 8:43 am
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

Beyond that level, self interest can lead to bad outcomes. My example would be the years leading up to 2008. Alan Greenspan, being a student of Ayn Rand, was a huge believer in the invisible hand. Then when the mortgage lenders, borrowers, Wall Street banks, appraisers, and every other invested par...
by bitcoininthevp
Fri Oct 08, 2021 9:52 am
Forum: Gold
Topic: Gold outflows, bitcoin inflows
Replies: 55
Views: 3894

Re: Gold outflows, bitcoin inflows

by bitcoininthevp
Fri Oct 08, 2021 9:25 am
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

BTC, If a G20 country starts putting BTC in their official reserves that would be a game changer in terms of my current opinion. If you happen to see that please post. If that happens, Im sure youll hear about it! Curious, but given Bitcoin's trajectory over the last 10 years, doesn’t such an event...
by bitcoininthevp
Thu Oct 07, 2021 2:25 pm
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

You do see the irony here, right? BTC is completely reliant on government acceptance (as is everything). For the majority of people in China, unless the have access to external finance markets, BTC's value is now zero in terms of goods and services. Given it is a financial asset, it has no inherent...
by bitcoininthevp
Thu Oct 07, 2021 8:46 am
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

BC, you're just wrong. Name a single currency where that has happened and the country wasn't totally jacked up politically. (This event is why gold does make some sense if one assumes it will be usable as a medium of exchange.) Im not sure the point here. Most currencies implode and your retort is ...
by bitcoininthevp
Thu Oct 07, 2021 8:42 am
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

Really, truly, hard money people need to read up on what happened during the Great Depression...but I'll try to make it as simple as possible. 1. You lost your job, meaning you have no way to obtain currency 2. Prices are plummeting, meaning a second other person is incentivized to hold gold backed...
by bitcoininthevp
Thu Oct 07, 2021 8:26 am
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

In all of human history there is not a single example of a fixed quantity currency that has been stable under economic duress. As I've mentioned numerous times on the board...that is the tradeoff. Instability is baked into the approach...it's mathematical as to why. Currency stability is created by...
by bitcoininthevp
Thu Oct 07, 2021 8:17 am
Forum: Variable Portfolio Discussion
Topic: China Bans Cryptocurrency Transactions
Replies: 77
Views: 2885

Re: China Bans Cryptocurrency Transactions

vincent_c wrote:
Wed Oct 06, 2021 2:18 pm
I agree with almost everything except that anyone who buys BTC to hodl actually reduces its liquidity. Once it becomes more widely accepted the hope is that there will be greater market depth. More liquidity will make for a more stable price.
I said people buying and holding adds to liquidity.