Crypto convert
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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 and I still question it's long term potential...but some of the altcoin projects...algorand, cardano, ethereum....are offering up some pretty amazing tech.
I'll add however, that besides an alternative store of value, bitcoin is pretty useless and I still question it's long term potential...but some of the altcoin projects...algorand, cardano, ethereum....are offering up some pretty amazing tech.
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Re: Crypto convert
What have you found that the altcoins can do? I haven't looked into them much at all.
They all still feel like pyramid schemes to me.
The most disruptive feature I see is the portability. Wealth can now be moved across borders so much easier.
They all still feel like pyramid schemes to me.
The most disruptive feature I see is the portability. Wealth can now be moved across borders so much easier.
Re: Crypto convert
Here is a 15 minute lecture that explains it better than I could ...the potential is definitely real. That said, most altcoin are shit. Just schemes to make a quick buck with no serious potential
https://youtu.be/Zuc2_7MGZ_g
https://youtu.be/Zuc2_7MGZ_g
Re: Crypto convert
Btw...if you were thinking of dabbling in this space...now wouldn't be the worst time as everything has basically collapsed 50%
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Re: Crypto convert
I got somewhat lucky and sold all gbtc I had when btc was still around 60k.
Now that coinbase has crashed down a bit I might just buy it for a more agnostic but crypto tilted approach.
Now that coinbase has crashed down a bit I might just buy it for a more agnostic but crypto tilted approach.
Re: Crypto convert
Not thrilled with coinbase. They really need to start investing some of their billions in a better platform. Interface wise it is not impressive at all.
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Re: Crypto convert
Interesting how he pretty much just assumes at 10:50 that the military force of superpowers is a thing of the past. Even if the US is losing ground in world reserve status, China (who has their own growing military) has been positioning itself. The world is heading more towards socialism than capitalism. Socialism and crypto are like vinegar and water.doodle wrote: โSun May 23, 2021 1:38 pm Here is a 15 minute lecture that explains it better than I could ...the potential is definitely real. That said, most altcoin are shit. Just schemes to make a quick buck with no serious potential
https://youtu.be/Zuc2_7MGZ_g
MMT is a 2 stage process. Step 1: give the poor free money. Step 2: Tax the wealthy. Crypto prevents step 2. Itโs not like major governments are going to sit back and let that happen. The reporting requirements are already being put in place. That will shake out the speculators and diamond hands will be a thing of the past.
Crypto may be the future... but so is intergalactic space travel. Finding which companies will survive and be a part of it is no easy task (especially since none of those companies might exist yet).
Re: Crypto convert
Cool to see your personal evolution in real-time doodle.
Personally, I'm thrilled to have Bitcoin as another form of competitive alt cash. In particular, Bitcoin solves gold's serious problem of being difficult to move across borders in a true SHTF scenario.
I don't like having to manage another asset though. And figuring out just how much cryptocurrency to have in one's portfolio is not a trivial challenge. I've settled on 1%. That amount, considering Bitcoin's volatility, works for me. I think as a general rule of thumb for people valuing safety and stability it works.
Personally, I'm thrilled to have Bitcoin as another form of competitive alt cash. In particular, Bitcoin solves gold's serious problem of being difficult to move across borders in a true SHTF scenario.
I don't like having to manage another asset though. And figuring out just how much cryptocurrency to have in one's portfolio is not a trivial challenge. I've settled on 1%. That amount, considering Bitcoin's volatility, works for me. I think as a general rule of thumb for people valuing safety and stability it works.
DITM
www.allterraininvesting.com
www.allterraininvesting.com
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Re: Crypto convert
Bought small bit of gbtc today with gut feeling that it will be up by Tuesday when the market opens again for quick profit.
I originally wanted to buy more gold but it kept going higher and gbtc was on sale.
I originally wanted to buy more gold but it kept going higher and gbtc was on sale.
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Re: Crypto convert
Barely got out ahead but got lucky. Small bump up in gbtc this morning combined with a drop in gold worked out.whatchamacallit wrote: โFri May 28, 2021 7:23 pm Bought small bit of gbtc today with gut feeling that it will be up by Tuesday when the market opens again for quick profit.
I originally wanted to buy more gold but it kept going higher and gbtc was on sale.
I am with Warren. Rat poison.
Re: Crypto convert
I'm still in Bitcoin with my 1% target allocation as part of my PP (along with 24% in gold).
I don't think that we PP investors should have any kind of religious attachment to gold. We should only have a religious attachment to diversification. When I began to approach the question of cryptocurrencies that way, their inclusion in my portfolio became natural.
I don't think that we PP investors should have any kind of religious attachment to gold. We should only have a religious attachment to diversification. When I began to approach the question of cryptocurrencies that way, their inclusion in my portfolio became natural.
DITM
www.allterraininvesting.com
www.allterraininvesting.com
Re: Crypto convert
Thanks. I do think that on the forums and for investors in general we tend to get too focused on the asset allocation rules and not the meta rules that actually govern them.vincent_c wrote: โFri Jun 04, 2021 8:16 pm I wish more members thought like this!
The trick to investing in bitcoin long term is to dabble in alt coins. Once you've exposed yourself to even more extreme volatility the volatility in bitcoin can seem tame and that will help you ride out the ups and downs. Those who have read my posts on the subject will know that I have mentioned before the recent crash that you should only hold enough at that time to hedge the price never coming down. Well at the current levels if you're seriously considering long term positions it probably isn't a bad idea to start building up a position.
DITM
www.allterraininvesting.com
www.allterraininvesting.com
- bitcoininthevp
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Re: Crypto convert
I applaud your efforts to research something new.doodle wrote: โSun May 23, 2021 9:19 am 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 and I still question it's long term potential...but some of the altcoin projects...algorand, cardano, ethereum....are offering up some pretty amazing tech.
But of course I have $.02 to add...
My highest level thought on "crypto" is that the main purpose is to achieve censorship resistance via decentralization.
Blockchains are horribly inefficient, so blockchains are not an efficiency play. And if you are going to abide by all laws, then you should just provide a centralized service with some APIs for programmability, its way easier.
That being said, is ethereum (and others you mention) moving toward further decentralization or towards centralization? If its moving toward centralization, its slowly losing its censorship resistance and thus value as a network.
In my understandings ethereum IS becoming more centralized. It is becoming harder to run an eth node over time (harms decentralization). ETH applications/services overwhelmingly use centralized services to access the eth blockchain as a result (harms decentralization). The move to proof of stake from proof of work also seems to encourage centralization (harms decentralization).
What do you think about this?