"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/

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...

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,...

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...

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...

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...

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...

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...

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...

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...

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 ...

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...

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...

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...

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...

Update on flows from JPM, via https://www.zerohedge.com/markets/jpmor ... tion-hedge

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...

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...

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 ...

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...

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...

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.

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 ...

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...

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...