Search found 465 matches
- Wed Oct 20, 2021 1:20 pm
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
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...
- Wed Oct 20, 2021 11:26 am
- Forum: Gold
- Topic: Gold outflows, bitcoin inflows
- Replies: 68
- Views: 23153
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...
- Wed Oct 20, 2021 11:24 am
- Forum: Gold
- Topic: Did Bitcoin Kill Gold’s Monetary Utility?
- Replies: 86
- Views: 23489
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 ...
- Wed Oct 20, 2021 11:17 am
- Forum: Permanent Portfolio Discussion
- Topic: A worthwhile read for all PP'ers
- Replies: 88
- Views: 32698
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...
- Wed Oct 20, 2021 11:09 am
- Forum: Gold
- Topic: Did Bitcoin Kill Gold’s Monetary Utility?
- Replies: 86
- Views: 23489
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 valua...
- Tue Oct 19, 2021 9:50 am
- Forum: Variable Portfolio Discussion
- Topic: Bitcoin's U.S. ETF begins trading
- Replies: 5
- Views: 2147
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...
- Mon Oct 18, 2021 8:43 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
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...
- Fri Oct 08, 2021 9:52 am
- Forum: Gold
- Topic: Gold outflows, bitcoin inflows
- Replies: 68
- Views: 23153
- Fri Oct 08, 2021 9:25 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
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...
- Thu Oct 07, 2021 2:25 pm
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
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...
- Thu Oct 07, 2021 8:46 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
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 ...
- Thu Oct 07, 2021 8:42 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
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...
- Thu Oct 07, 2021 8:26 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
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...
- Thu Oct 07, 2021 8:17 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
Re: China Bans Cryptocurrency Transactions
I said people buying and holding adds to liquidity.
- Wed Oct 06, 2021 11:45 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
Re: China Bans Cryptocurrency Transactions
Oops, too late for that thank you very much. To be clear however, I’ve consistently stated BTC has been and at least for now is a stellar speculation. One of the best. I just happen to think it is a joke as a currency substitute and is not likely to end well as a longer term investment. I could be ...
- Wed Oct 06, 2021 11:42 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21721
Re: China Bans Cryptocurrency Transactions
Funny thing here is that Bitcoin only has value to the degree that governments mismanage the money. If governments behaved, Bitcoin would have little or no value. Why? (sorry for being repetitive) Because Bitcoin is a censorship-resistant, inflation-resistant, seizure-resistant, pseudonymous digital...
- Fri Sep 03, 2021 9:30 am
- Forum: Permanent Portfolio Discussion
- Topic: Is Physical Gold Really "Necessary" to US Citizens?
- Replies: 18
- Views: 11395
Re: Is Physical Gold Really "Necessary" to US Citizens?
1) Failure of ETFs that hold gold. This has to be weighed against the risk of theft/less of physical gold coins. What are the chances that the ETF will fail, versus you losing your coins? Maybe you were mentally including these risks under the "Failure of ETFs that hold gold" umbrella, bu...
- Fri Sep 03, 2021 9:19 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 126397
Re: BTC in the PP
I'm still not sure I understand what makes a monetary policy credible or not credible. See my other posts for credibility-building examples. A rough response in this example: - who "owns" or can affect the smart contract managing this NFT? (many people scam, even in groups) - is the smart...
- Fri Sep 03, 2021 9:12 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 126397
Re: BTC in the PP
I am also sympathetic. I totally lost interest in the space from 2017-2021 because I felt the block size should have been increased. Without getting too technical here, there was an increase in the block size in 2017 / segwit. See the "size" column here for recent blocks: https://mempool....
- Wed Sep 01, 2021 3:15 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 126397
Re: BTC in the PP
I'll play devil's advocate if you're willing to debate. One of the things that I read recently was about the tokenization of NFTs themselves. So for example if we have a bunch of NFTs that people have used as a store of value (like meme NFTs, cypherpunks, veefriends, etc) then if you were able to b...
- Wed Sep 01, 2021 12:38 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 126397
Re: BTC in the PP
I know neither you nor bitcoininthevp are interested in convincing others, but then what is the point? Any bitcoin investor ought to be interested in persuading others to join the network because that is how you make sure the network remains valuable. I think it's more like this is the forum where ...
- Wed Sep 01, 2021 10:31 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 126397
Re: BTC in the PP
We seem to agree or at least agree to disagree on many of the points so keeping only a couple for discussion. Yes and no. You've again dipped into this idea of "credible monetary policy", but you keep blurring the lines between code and "efficient market participation that seems so ob...
- Tue Aug 31, 2021 8:11 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 126397
Re: BTC in the PP
This isnt quite true in the sense I think you mean or imply it. Miners have some degree of control but only within following Bitcoin's protocol rules. For example, if a miner, or even most miners decide to reward themselves more bitcoins than the rules allow, the other nodes will reject that miners...
- Mon Aug 30, 2021 1:34 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 126397
Re: BTC in the PP
1) Gut feelings about an asset that looks overvalued Im not necessarily trying to convince anyone to buy bitcoin so this isnt really a concern of mine. I think the big money will come from companies buying which has started, and then larger orgs and then governments. 2) Disagreement with the idea t...
- Mon Aug 30, 2021 1:27 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 126397
Re: BTC in the PP
Miners can NOT add to bitcoins supply, steal funds, etc and still be complying with the Bitcoin protocol. I think he may have meant that miners/mining pools can collude can perform a 51% attack and double spend on the network. In the past there were worries that ISPs could spoof mining traffic to d...