"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/
Search found 465 matches
- Thu Oct 21, 2021 3:04 pm
- Forum: Variable Portfolio Discussion
- Topic: Houston Firefighters Pension Fund Makes Bitcoin, Ether Purchase
- Replies: 10
- Views: 3819
- Thu Oct 21, 2021 3:01 pm
- Forum: Gold
- Topic: Gold outflows, bitcoin inflows
- Replies: 68
- Views: 22876
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...
- Thu Oct 21, 2021 2:59 pm
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21212
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,...
- Thu Oct 21, 2021 12:06 pm
- Forum: Permanent Portfolio Discussion
- Topic: A worthwhile read for all PP'ers
- Replies: 88
- Views: 32256
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...
- Thu Oct 21, 2021 11:53 am
- Forum: Gold
- Topic: Gold outflows, bitcoin inflows
- Replies: 68
- Views: 22876
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 1:40 pm
- Forum: Permanent Portfolio Discussion
- Topic: A worthwhile read for all PP'ers
- Replies: 88
- Views: 32256
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...
- Wed Oct 20, 2021 1:30 pm
- Forum: Permanent Portfolio Discussion
- Topic: A worthwhile read for all PP'ers
- Replies: 88
- Views: 32256
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...
- Wed Oct 20, 2021 1:27 pm
- Forum: Permanent Portfolio Discussion
- Topic: A worthwhile read for all PP'ers
- Replies: 88
- Views: 32256
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...
- Wed Oct 20, 2021 1:20 pm
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21212
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: 22876
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: 23110
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: 32256
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: 23110
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: 2062
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: 21212
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: 22876
- Fri Oct 08, 2021 9:25 am
- Forum: Variable Portfolio Discussion
- Topic: China Bans Cryptocurrency Transactions
- Replies: 58
- Views: 21212
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: 21212
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: 21212
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: 21212
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: 21212
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: 21212
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: 21212
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: 21212
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: 11380
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...