Search found 465 matches
- Mon Aug 30, 2021 1:27 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
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...
- Mon Aug 30, 2021 12:35 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
Re: BTC in the PP
I know this post isn’t kbg’s answer and I don’t see a question here after this response so let me just say that I will not further engage with posts that are not serious in nature and without questions or challenges even if I am quoted. I hope this does not disuade those who are serious in engaging...
- Mon Aug 30, 2021 12:22 pm
- Forum: Politics
- Topic: Bitcoin is Galt's Gulch
- Replies: 52
- Views: 9866
Re: Bitcoin is Galt's Gulch
Sigh. https://www.independent.co.uk/life-style/gadgets-and-tech/hackers-crypto-bitcoin-heist-poly-network-b1901986.html This is about Poly Network, not "bit coin". https://nypost.com/2021/06/24/brothers-disappear-with-3-6b-in-bitcoin-in-alleged-heist/ This is people giving their bitcoins t...
- Mon Aug 30, 2021 12:16 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
Re: BTC in the PP
From a superficial sense BTC has no counterparties, but in a philosophical sense miners are the ultimate counterparty. They control the network. I love the "well I can always spin up a node" argument. If you're not proving work, you're irrelevant. Most people making this argument aren't p...
- Mon Aug 30, 2021 11:28 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
Re: BTC in the PP
Honestly, my gut sense is BTC is a modern day tulip and it isn’t going to end well. But these questions are more like, is the tulip in a pot with good soil or is it cut and in a water vase I just got from the florist and it’s dead in 7-14 days (metaphorically). Have you thought about what would nee...
- Mon Aug 30, 2021 11:25 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
Re: BTC in the PP
Here’s one. What does happen if electricity goes out? Realistically unless we are in Mad Max world the lights don’t go out globally. Does storage then become a function of the physical disk space where a token resides and getting it supplied with electricity? So here’s a scenario not totally implau...
- Fri Aug 27, 2021 9:50 am
- Forum: Politics
- Topic: Bitcoin is Galt's Gulch
- Replies: 52
- Views: 9866
Re: Bitcoin is Galt's Gulch
present day $600M type thefts/hacks out of the bit coin algorithm would simply scale This is completely false. Bitcoin (or what you seem to think of as "bit coin") has not been hacked for loss of funds. Individuals holding bitcoins in insecure ways have lost their coins. If I leave my gol...
- Fri Aug 27, 2021 9:44 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
- Fri Aug 27, 2021 9:41 am
- Forum: Variable Portfolio Discussion
- Topic: I think it’s time to move into crypto
- Replies: 160
- Views: 86426
Re: I think it’s time to move into crypto
One cool option here is Unchained Capital. https://unchained-capital.com/
They allow you to purchase bitcoin right into a multisignature wallet, eliminating single points of failure. They have software and support people that will help set it up for you.
They allow you to purchase bitcoin right into a multisignature wallet, eliminating single points of failure. They have software and support people that will help set it up for you.
- Thu Aug 26, 2021 1:48 pm
- Forum: Politics
- Topic: Bitcoin is Galt's Gulch
- Replies: 52
- Views: 9866
Re: Bitcoin is Galt's Gulch
I would add another book reference here: The Sovereign Individual: Mastering the Transition to the Information Age https://www.amazon.com/The-Sovereign-Individual-audiobook/dp/B07TWNP9NB/ref=sr_1_1?dchild=1&keywords=sovereign+individual&qid=1629897656&sr=8-1&x=0&y=0 Thanks I'll ...
- Thu Aug 26, 2021 1:46 pm
- Forum: Variable Portfolio Discussion
- Topic: I think it’s time to move into crypto
- Replies: 160
- Views: 86426
Re: I think it’s time to move into crypto
Coinbase is fine IMHO. Stay with BTC IMHO.
- Wed Aug 25, 2021 10:40 am
- Forum: Variable Portfolio Discussion
- Topic: Why the Fedcoin will be bullish for Bitcoin
- Replies: 10
- Views: 2408
Re: Why the Fedcoin will be bullish for Bitcoin
I've seen some policies that in theory should have been a nightmare for people but it seems many/most people just get used to it and it becomes the new normal. Complete governmental control of your life seems hard to not be a nightmare. And complete control of the money gives them that. Maybe at fi...
- Wed Aug 25, 2021 10:11 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
Re: BTC in the PP
I think bitcoininthevp makes a great point that all stores of value are actually greater fool assets. All stores of value can be overvalued at a given point in time only knowable in hindsight so I think it goes back to time preference. Paying 30% more for gold 100 years ago doesn't seem like such a...
- Wed Aug 25, 2021 10:07 am
- Forum: Variable Portfolio Discussion
- Topic: Why the Fedcoin will be bullish for Bitcoin
- Replies: 10
- Views: 2408
Re: Why the Fedcoin will be bullish for Bitcoin
CBDCs seem inevitable to me. CBDCs also seem to me one of the biggest threats to humanity that I can imagine. Government controlling your tax rate based on political ties. Your money expires. Limits to how much you can spend on meat in a month. Cant send funds to that guy that said something bad abo...
- Wed Aug 25, 2021 9:55 am
- Forum: Variable Portfolio Discussion
- Topic: ways to profit from bitcoin crash
- Replies: 3
- Views: 1996
Re: ways to profit from bitcoin crash
As mentioned, you can use options. Buy put spreads or sell call spreads.
You could also buy bitcoin and then short the futures and capture the premium. Not a short play persay, more market neutral.
I hope you made some profits on the 65k->28k moves.
You could also buy bitcoin and then short the futures and capture the premium. Not a short play persay, more market neutral.
I hope you made some profits on the 65k->28k moves.
- Wed Aug 25, 2021 9:47 am
- Forum: Variable Portfolio Discussion
- Topic: Crypto convert
- Replies: 12
- Views: 4886
Re: Crypto convert
Ok, so after months of listening to crypto lectures and playing around with different platforms I've been converted. I see the groundbreaking and revolutionary promises this technology can bring to our lives. I'll add however, that besides an alternative store of value, bitcoin is pretty useless an...
- Wed Aug 25, 2021 9:36 am
- Forum: Variable Portfolio Discussion
- Topic: Why the Fedcoin will be bullish for Bitcoin
- Replies: 10
- Views: 2408
Re: Why the Fedcoin will be bullish for Bitcoin
What is the problem of stablecoins that you are trying to solve? Fedcoin (CBDC buzzword) is not going to be anything like a cryptocurrency in that the Fed will want complete control (allow certain transactions, block others, etc). Current stablecoins (USDC, USDT) that are backed will probably be reg...
- Wed Aug 25, 2021 8:25 am
- Forum: Politics
- Topic: Bitcoin is Galt's Gulch
- Replies: 52
- Views: 9866
Re: Bitcoin is Galt's Gulch
I just don't see how "anonymity" and "technology that immutably and forever keeps a complete record of all transactions ever" go together at all. Pseudonymous is a more accurate term. There are identifiers on the blockchain (addresses) but they dont "need" to be tied t...
- Wed Aug 25, 2021 8:21 am
- Forum: Politics
- Topic: Bitcoin is Galt's Gulch
- Replies: 52
- Views: 9866
Re: Bitcoin is Galt's Gulch
In Ayn Rand's Atlas Shrugged, the most productive members of society grow tired of carrying the yoke. The value of their productive effort is increasingly drained by cronies in Washington. They awaken to the fact that they are responsible for keeping this anti-life system going. They realize it is ...
- Wed Aug 25, 2021 8:16 am
- Forum: Variable Portfolio Discussion
- Topic: I think it’s time to move into crypto
- Replies: 160
- Views: 86426
Re: I think it’s time to move into crypto
But how much wealth it stores has nothing to do with market cap but based on the depth of liquidity. Of course it does. How can Bitcoin, with a 21 million supply cap, store $1,000,000,000 of wealth if the exchange rate is $1, for example? So the amount of wealth it stores exactly has to do with the...
- Wed Aug 25, 2021 8:11 am
- Forum: Politics
- Topic: Bitcoin is Galt's Gulch
- Replies: 52
- Views: 9866
Re: Bitcoin is Galt's Gulch
Bitcoin is anti-central bank. And thus is the enemy of governments. They largely have not understood (or underestimated?) this so far. But yes, it will continue to be banned and regulated throughout the world. But the banning of Bitcoin in some countries actually makes Bitcoin more appealing in oth...
- Wed Aug 25, 2021 8:02 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
Re: BTC in the PP
Security : Bitcoin involves counter-parties whereas gold does not. No. Seizure resistance : Recent theft by hackers of millions of bitcoin $$$ value. Gold stored in trusted regions can have Plausible Deniability/paper trails established relatively easily. This is like saying gold isnt seizure resis...
- Wed Aug 25, 2021 7:56 am
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621
- Tue Aug 24, 2021 1:56 pm
- Forum: Politics
- Topic: Bitcoin is Galt's Gulch
- Replies: 52
- Views: 9866
Re: Bitcoin is Galt's Gulch
What can you use it for besides selling it to someone else? I've wondered this for a long time. This is basically one definition of money. Something like "The most saleable goods are the likeliest to become used as a medium of exchange and eventually emerge as the money." from Menger / Au...
- Tue Aug 24, 2021 1:50 pm
- Forum: Variable Portfolio Discussion
- Topic: BTC in the PP
- Replies: 239
- Views: 124621