I think it’s time to move into crypto

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vincent_c
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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.
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bitcoininthevp
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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
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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?
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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.
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Re: I think it’s time to move into crypto

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

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

Post by SomeDude » Sun May 16, 2021 3:48 pm

I Shrugged wrote:
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.
I only ever have 1-2% of my assets in fiat, but something tells me fiat will always be around somewhere long after these cryptos have gone the way of the dodo. What are we up to now, 10,000 different crypto coins?

I agree though that crypto has woken up lots of people, particularly the young to the problems of fiat. I hope it leads somewhere good. I hope it does NOT lead to a renewal of faith in fiat should all this crypto hit a price that matches its intrinsic value.
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Re: I think it’s time to move into crypto

Post by whatchamacallit » Sun May 16, 2021 5:30 pm

SomeDude wrote:
Sun May 16, 2021 3:48 pm


I only ever have 1-2% of my assets in fiat, but something tells me fiat will always be around somewhere long after these cryptos have gone the way of the dodo. What are we up to now, 10,000 different crypto coins?
Now that sounds interesting. Only 1-2% in fiat?

No cash or bonds? Just gold and stocks? Or also crypto?
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Re: I think it’s time to move into crypto

Post by l82start » Sun May 16, 2021 6:13 pm

i saw this in a circle k store yesterday....

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-Government 2020+ - a BANANA REPUBLIC - if you can keep it

-Belief is the death of intelligence. As soon as one believes a doctrine of any sort, or assumes certitude, one stops thinking about that aspect of existence
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Re: I think it’s time to move into crypto

Post by I Shrugged » Sun May 16, 2021 7:36 pm

SomeDude wrote:
Sun May 16, 2021 3:48 pm

What are we up to now, 10,000 different crypto coins?

They smell like tulips to me.
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Re: I think it’s time to move into crypto

Post by SomeDude » Sun May 16, 2021 7:53 pm

whatchamacallit wrote:
Sun May 16, 2021 5:30 pm
SomeDude wrote:
Sun May 16, 2021 3:48 pm


I only ever have 1-2% of my assets in fiat, but something tells me fiat will always be around somewhere long after these cryptos have gone the way of the dodo. What are we up to now, 10,000 different crypto coins?
Now that sounds interesting. Only 1-2% in fiat?

No cash or bonds? Just gold and stocks? Or also crypto?
Gold, silver, platinum, and stocks. And a lil cash. Most stocks international or oil or mining. I still think gold and international stocks are undervalued so i keep buying. If they were overvalued by my metrics I'd consider some bonds but at these interest rates sheeesh.
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Re: I think it’s time to move into crypto

Post by murphy_p_t » Wed May 19, 2021 8:25 am

doodle wrote:
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.
that's not going to happen when you have scheming politicians whose first priority is themselves. **Democracy**
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Re: I think it’s time to move into crypto

Post by murphy_p_t » Wed May 19, 2021 8:28 am

You can get a lot more crypto for your Fiat today
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Re: I think it’s time to move into crypto

Post by murphy_p_t » Wed May 19, 2021 8:38 am

SomeDude wrote:
Sun May 16, 2021 7:53 pm
whatchamacallit wrote:
Sun May 16, 2021 5:30 pm
SomeDude wrote:
Sun May 16, 2021 3:48 pm


I only ever have 1-2% of my assets in fiat, but something tells me fiat will always be around somewhere long after these cryptos have gone the way of the dodo. What are we up to now, 10,000 different crypto coins?
Now that sounds interesting. Only 1-2% in fiat?

No cash or bonds? Just gold and stocks? Or also crypto?
Gold, silver, platinum, and stocks. And a lil cash. Most stocks international or oil or mining. I still think gold and international stocks are undervalued so i keep buying. If they were overvalued by my metrics I'd consider some bonds but at these interest rates sheeesh.
What forms (coins, bars, pool acct, etf, etc) / storage options do you suggest? Or that you advise against.
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Re: I think it’s time to move into crypto

Post by SomeDude » Wed May 19, 2021 9:41 pm

murphy_p_t wrote:
Wed May 19, 2021 8:38 am
SomeDude wrote:
Sun May 16, 2021 7:53 pm
whatchamacallit wrote:
Sun May 16, 2021 5:30 pm
SomeDude wrote:
Sun May 16, 2021 3:48 pm


I only ever have 1-2% of my assets in fiat, but something tells me fiat will always be around somewhere long after these cryptos have gone the way of the dodo. What are we up to now, 10,000 different crypto coins?
Now that sounds interesting. Only 1-2% in fiat?

No cash or bonds? Just gold and stocks? Or also crypto?
Gold, silver, platinum, and stocks. And a lil cash. Most stocks international or oil or mining. I still think gold and international stocks are undervalued so i keep buying. If they were overvalued by my metrics I'd consider some bonds but at these interest rates sheeesh.
What forms (coins, bars, pool acct, etf, etc) / storage options do you suggest? Or that you advise against.
100% physical and all shapes and sizes for silver up to 100 oz bars. If we get lucky and the price gets smashed again I'll buy a 1,000 oz bar.

Platinum is sovereign coins and swiss 1oz bars.

Gold is a few 1oz bars and tons of sovereign coins from all over. Mostly eagles and 1 oz but plenty of other stuff.

I have a thread on the storage topic i think. I'm definitely a fan of storing it yourself at home.
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Re: I think it’s time to move into crypto

Post by Mountaineer » Thu May 20, 2021 6:47 am

SomeDude wrote:
Wed May 19, 2021 9:41 pm
murphy_p_t wrote:
Wed May 19, 2021 8:38 am
SomeDude wrote:
Sun May 16, 2021 7:53 pm
whatchamacallit wrote:
Sun May 16, 2021 5:30 pm
SomeDude wrote:
Sun May 16, 2021 3:48 pm


I only ever have 1-2% of my assets in fiat, but something tells me fiat will always be around somewhere long after these cryptos have gone the way of the dodo. What are we up to now, 10,000 different crypto coins?
Now that sounds interesting. Only 1-2% in fiat?

No cash or bonds? Just gold and stocks? Or also crypto?
Gold, silver, platinum, and stocks. And a lil cash. Most stocks international or oil or mining. I still think gold and international stocks are undervalued so i keep buying. If they were overvalued by my metrics I'd consider some bonds but at these interest rates sheeesh.
What forms (coins, bars, pool acct, etf, etc) / storage options do you suggest? Or that you advise against.
100% physical and all shapes and sizes for silver up to 100 oz bars. If we get lucky and the price gets smashed again I'll buy a 1,000 oz bar.

Platinum is sovereign coins and swiss 1oz bars.

Gold is a few 1oz bars and tons of sovereign coins from all over. Mostly eagles and 1 oz but plenty of other stuff.

I have a thread on the storage topic i think. I'm definitely a fan of storing it yourself at home.
I sure hope no one knows or will determine where you live!
What you revere you resemble, either for ruin or for restoration. G. K. Beale
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Re: I think it’s time to move into crypto

Post by I Shrugged » Thu May 20, 2021 7:30 am

I'm a fan of having some within reach, but some overseas too. Part of my disaster plan is to be able to flee across borders. Try doing that with a bunch of PMs.

Then there is the risk of crime. If by chance someone finds out you have 5-6-7 figures of PMs that are accessible, you might wake up in the middle of the night to 3 guys in ski masks pointing Glocks at you. Or at your spouse or child.

And if you tell any loved ones about your PMs, you've created risk. And if you don't, and you die, what happens to the PMs and your heirs?
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Re: I think it’s time to move into crypto

Post by Hal » Thu May 20, 2021 5:39 pm

Crypto diversification video

https://www.youtube.com/watch?v=abhPP_DeRSc
Aussie GoldSmithPP - 25% PMGOLD, 75% VDCO
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Re: I think it’s time to move into crypto

Post by doodle » Sun May 23, 2021 2:17 pm

Hal wrote:
Thu May 20, 2021 5:39 pm
Crypto diversification video

https://www.youtube.com/watch?v=abhPP_DeRSc
Crypto doesn't protect you either...as someone pointing a gun at your head could very easily convince you to send funds to another address.
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Re: I think it’s time to move into crypto

Post by Calvindeen » Sun May 30, 2021 12:43 pm

It’s never to late if you believe in what’s happening. Crypto is changing the world whether you’re buying the tokens or not, so definitely not too late to be in for the adventure.I have 1k in the market. I thought about having a bot which buy and sell for me I have tried 3 commas and Tradesanta crypto bot but it is not like that which I want. Currently testing this (crypto trading bot https://tradingbot-solutions.com/ link is only for info ) and the results are pretty good so far. Have you used any of these bots?
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Re: I think it’s time to move into crypto

Post by doodle » Mon May 31, 2021 8:48 am

So as I have been playing around in the crypto space I am starting to be less and less impressed. Speeds are just not competitive with banking system...and it's wonkiness is terryfying at times. Sending substantial sums of money that doesn't arrive for a half hour with no one to call or recourse at all.

This older article in the guardian argues that the hype around block chain is misplaced.

https://www.theguardian.com/business/2 ... ipe-dream
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