I think it’s time to move into crypto

A place to talk about speculative investing ideas for the optional Variable Portfolio

Moderator: Global Moderator

vincent_c
Executive Member
Executive Member
Posts: 249
Joined: Wed Dec 02, 2020 10:58 am

Re: I think it’s time to move into crypto

Post by vincent_c » Sat Mar 06, 2021 4:07 pm

bitcoininthevp wrote:
Sat Mar 06, 2021 6:50 am
Came across this. Not sure if it’s useful on your quest.

https://www.visionhill.com/indices
I browsed around a bit but I couldn't make anything out of it. It looks like it requires a subscription or investment to get any information about what the funds invest in.
User avatar
bitcoininthevp
Executive Member
Executive Member
Posts: 295
Joined: Fri Sep 25, 2015 8:30 pm

Re: I think it’s time to move into crypto

Post by bitcoininthevp » Mon Mar 08, 2021 12:49 pm

bitcoininthevp wrote:
Thu Mar 04, 2021 2:36 pm
vincent_c wrote:
Thu Mar 04, 2021 1:46 pm
If BTC has no use as a collateral asset, then it's usefulness as a store of value is limited.
There is no requirement that bitcoin can only be used on blockchains. Bitcoin is acting as collateral to get USD loans for example (Unchained Capital). It is also used as collateral for trading/exchanges.
Interesting document on 'Banking on Bitcoin: BTC as Collateral':
https://static1.squarespace.com/static/ ... ateral.pdf
glennds
Executive Member
Executive Member
Posts: 716
Joined: Mon Jan 28, 2013 11:24 am

Re: I think it’s time to move into crypto

Post by glennds » Tue Apr 13, 2021 2:50 pm

bitcoininthevp wrote:
Fri Mar 05, 2021 11:32 am


All value is subjective as individuals. Bitcoin is trying to be money, so its perceived money-like properties give it monetary value for those looking for such value. Essentially, high price is the point of bitcoin as its trying to become money and the monetizing process is measured in $.
Does it give you any pause that the IRS has designated BTC as "property" thus really complicating the ability to use it as a medium of exchange? Basically every transaction will have built in gain or loss which would need to be accounted and reported. To truly function like money, this could not be the case.

Of course this is not to say all the other strengths as a store of value or a speculative asset are not present. But as a medium of exchange, the IRS is a barrier at the moment.
Thoughts?
User avatar
doodle
Executive Member
Executive Member
Posts: 4596
Joined: Fri Feb 11, 2011 2:17 pm

Re: I think it’s time to move into crypto

Post by doodle » Tue Apr 13, 2021 3:01 pm

glennds wrote:
Tue Apr 13, 2021 2:50 pm
bitcoininthevp wrote:
Fri Mar 05, 2021 11:32 am


All value is subjective as individuals. Bitcoin is trying to be money, so its perceived money-like properties give it monetary value for those looking for such value. Essentially, high price is the point of bitcoin as its trying to become money and the monetizing process is measured in $.
Does it give you any pause that the IRS has designated BTC as "property" thus really complicating the ability to use it as a medium of exchange? Basically every transaction will have built in gain or loss which would need to be accounted and reported. To truly function like money, this could not be the case.

Of course this is not to say all the other strengths as a store of value or a speculative asset are not present. But as a medium of exchange, the IRS is a barrier at the moment.
Thoughts?
What other option do they have? I mean, they can't denominate it as money and undermine their own existence. Sooner or later I think two options are going to present themselves to central bankers and politicians....we can either choose the frying pan or the fire. There isn't any easy way out of this debt hole we've dug ourselves into. We either live within our means and suffer the deflationary consequences...which would have been a lot easier a few bubbles ago prior to the notion that we need bailouts everytime people behave unwisely.... or keep the money printer going and eventually destroy our monetary system, government and make everyone miserable. Personally, the former although painful...sounds like the better option.
User avatar
vnatale
Executive Member
Executive Member
Posts: 5940
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: I think it’s time to move into crypto

Post by vnatale » Tue Apr 13, 2021 8:58 pm

Capture.JPG
Capture.JPG (53.61 KiB) Viewed 259 times
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats."
whatchamacallit
Executive Member
Executive Member
Posts: 397
Joined: Mon Oct 01, 2012 7:32 pm

Re: I think it’s time to move into crypto

Post by whatchamacallit » Sat Apr 17, 2021 7:21 pm

I sold all my gbtc on Friday. I made 30% or so profit.

With everything except btc going up last week something definitely felt broken with it.

It just felt like dogecoin run up could cause all of them to crash.

I don't know when I will get back in. Still hate the stuff but would love the profits.
whatchamacallit
Executive Member
Executive Member
Posts: 397
Joined: Mon Oct 01, 2012 7:32 pm

Re: I think it’s time to move into crypto

Post by whatchamacallit » Mon May 10, 2021 9:28 pm

Bubble getting bigger. I saw someone offer crypto classes on nextdoor which is a neighbor hood social media site.

That must mean all the old housewives will be trading crypto soon.
User avatar
Mark Leavy
Executive Member
Executive Member
Posts: 1541
Joined: Thu Mar 01, 2012 10:20 pm
Location: US Citizen, Permanent Traveler

Re: I think it’s time to move into crypto

Post by Mark Leavy » Mon May 10, 2021 10:18 pm

About once a week now, a bartender will bring up crypto.
User avatar
I Shrugged
Executive Member
Executive Member
Posts: 1351
Joined: Tue Dec 18, 2012 6:35 pm

Re: I think it’s time to move into crypto

Post by I Shrugged » Tue May 11, 2021 8:24 am

Mark Leavy wrote:
Mon May 10, 2021 10:18 pm
About once a week now, a bartender will bring up crypto.
Yeah that's a sign of something.

One good result of crypto mania is that way more people know what fiat currency is and why it matters.
User avatar
I Shrugged
Executive Member
Executive Member
Posts: 1351
Joined: Tue Dec 18, 2012 6:35 pm

Re: I think it’s time to move into crypto

Post by I Shrugged » Tue May 11, 2021 8:26 am

whatchamacallit wrote:
Mon May 10, 2021 9:28 pm
Bubble getting bigger. I saw someone offer crypto classes on nextdoor which is a neighbor hood social media site.

That must mean all the old housewives will be trading crypto soon.
The fact that people have to take classes to try to understand it, argues against its success. If you think about the IQ bell curve in either the USA or the world, there are a lot of people in the left half. Can you see them using Bitcoin in anything like its present format? So is Bitcoin racist, elitist, or both? :)
Post Reply