If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?

[Anonymous]

No. Not allowed. Finreg.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?

Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?

Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?

How is it a store of value? A house is a store value because somebody can live in it. Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin? OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??

All the answers are online. You just haven't bothered to do some research. What value does gold have? We can't eat it. We can't use little peaces to buy anything every day. What value does fiat currency have if every country can keep printing it. Can't keep printing Bitcoin. More gold can be found and it happens all the time as price goes up.
Bitcoin is new technology, so no wonder people are scared. The idea is not new, the technology had to catch up.

I’m the PP you responded to. Note that I did not mention gold because I agree that gold doesn’t have much value either. I mentioned real estate and stocks as assets that do have value.

Regarding fiat currency (the dollar), it has value because it is backed by the world’s #1 superpower and is the reserve currency used in transactions throughout the world. Of course, it’s not good if it is endlessly printed, but I can’t make a leap from that to accepting that Bitcoin is the solution or that I should part with $100,000 of my hard-earned money to buy one Bitcoin.

Real estate doesn't have much value. Watch Saylor videos. He explains if very well.

How does real estate have little value? People need a place to live. They don't need Bitcoin.

People need to eat. Land is the way to grow food and raise animals for food.

What basic human need does Bitcoin solve?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I honestly don’t understand this stuff. Like, what’s the endgame - Bitcoin gets to $1 million? $10 million? And then what? Can you do anything with it other than trade it like digital Pokémon cards?

Is it ever going to be used for transactions? If so, why isn’t it already being used for this purpose?

Is it going to replace the US dollar? Why would the government ever allow that, and give up its enormous power, instead of making it illegal?

How is it a store of value? A house is a store value because somebody can live in it. Stocks are a store of value because you get a stream of earnings. But what is being stored with Bitcoin? OK, there is a “limited supply,” but so what? If Bitcoin went away tomorrow, what value would be lost except for the money that people have spent buying it??

All the answers are online. You just haven't bothered to do some research. What value does gold have? We can't eat it. We can't use little peaces to buy anything every day. What value does fiat currency have if every country can keep printing it. Can't keep printing Bitcoin. More gold can be found and it happens all the time as price goes up.
Bitcoin is new technology, so no wonder people are scared. The idea is not new, the technology had to catch up.

I’m the PP you responded to. Note that I did not mention gold because I agree that gold doesn’t have much value either. I mentioned real estate and stocks as assets that do have value.

Regarding fiat currency (the dollar), it has value because it is backed by the world’s #1 superpower and is the reserve currency used in transactions throughout the world. Of course, it’s not good if it is endlessly printed, but I can’t make a leap from that to accepting that Bitcoin is the solution or that I should part with $100,000 of my hard-earned money to buy one Bitcoin.

Real estate doesn't have much value. Watch Saylor videos. He explains if very well.

How does real estate have little value? People need a place to live. They don't need Bitcoin.

People need to eat. Land is the way to grow food and raise animals for food.

What basic human need does Bitcoin solve?

Saylor didn’t really say RE had no value. The PP is taking his words out of context. He said Bitcoin is paying the same role as RE and gold, becoming the new world reserve currency.

[Anonymous]

Random youtubers create their own cryptocurrency. Their followers spend millions on the "coins".

What problem is this solving, and why is this a good thing?

https://www.bbc.com/news/articles/c89xvjkzzyvo

There are over 100k different "scam" tokens out there:
https://www.securities.io/5-worst-rug-pulls-in-crypto/

Lots of red flags in my finanicially risk-averse mind.

[Anonymous]

Anonymous wrote:Random youtubers create their own cryptocurrency. Their followers spend millions on the "coins".

What problem is this solving, and why is this a good thing?

https://www.bbc.com/news/articles/c89xvjkzzyvo

There are over 100k different "scam" tokens out there:
https://www.securities.io/5-worst-rug-pulls-in-crypto/

Lots of red flags in my finanicially risk-averse mind.

As a Russian born immigrant with US passport and apartment in Moscow the crypto allows complete avoidance of sanctions. You just sell apt in Moscow for crypto, and cash it for USD anywhere else in the world. It’s tax-free transactions on home exchange a the likes.
It legalized money laundering on a world scale

[Anonymous]

Anonymous wrote:Random youtubers create their own cryptocurrency. Their followers spend millions on the "coins".

What problem is this solving, and why is this a good thing?

https://www.bbc.com/news/articles/c89xvjkzzyvo

There are over 100k different "scam" tokens out there:
https://www.securities.io/5-worst-rug-pulls-in-crypto/

Lots of red flags in my finanicially risk-averse mind.

When super powers promote and support it, and millions of followers buy it, transact in it, the new “coin” becomes an alternate reserve currency. Bretton Woods applied to USD and was ended. But if you think of it in abstract terms, anything can be used as trading tool - it’s only a matter of conventions and regulations. Because bitcoin is deregulated it will gain traction, imho. The only thing that I personally think would happen is one or two tokens will be commonly used and others will bust/disappear

[Anonymous]

Anonymous wrote:

Anonymous wrote:Random youtubers create their own cryptocurrency. Their followers spend millions on the "coins".

What problem is this solving, and why is this a good thing?

https://www.bbc.com/news/articles/c89xvjkzzyvo

There are over 100k different "scam" tokens out there:
https://www.securities.io/5-worst-rug-pulls-in-crypto/

Lots of red flags in my finanicially risk-averse mind.

When super powers promote and support it, and millions of followers buy it, transact in it, the new “coin” becomes an alternate reserve currency. Bretton Woods applied to USD and was ended. But if you think of it in abstract terms, anything can be used as trading tool - it’s only a matter of conventions and regulations. Because bitcoin is deregulated it will gain traction, imho. The only thing that I personally think would happen is one or two tokens will be commonly used and others will bust/disappear

Two words: Smart Contracts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Do any of the large generic mutual funds long Vanguard's have Bitcoin / adjacent securities mixed in?

Index funds would automatically own MSTR and such.

Why hasn't Microstrategy been sued by investors for negligence? They're a local company and have been a software comapny for 20+ years. You can even see their website now -- they offer a data analytics product:
https://www.microstrategy.com/

They shouldn't be dabbling in bitcoin by buying more than $2bln of it. Investors who want bitcoin exposuer have other avenues fro it. Investors who want to invest in the data analytics software industry should (in theory) buy MSTR to get exposure to that.

They are doing nothing illegal. btw, they own $40 billion now. has been best performing stock in the market by a huge margin. why would any shareholder sue them?

To me, it's negligence. For example, I may buy Microsoft because I want to invest in the tech industry. I wouldn't expect Microsoft to go into oil exploration and oil wells. I'd buy Shell or Mobil if I wanted to have exposure to that.

Microstrategy is a well-known software company that's been in this area for 20+ years. I think I even interviewed for them to be a software dev back when I was jsut getting out of college. They should set up a "Bitcoin investment company" if that is their goal.

They now literally call themselves a Bitcoin treasury company. The software operations are largely irrelevant now. The company decided to make a strategic change, fully disclosed, and the results have been extraordinary- yet you think they should be sued?

They made $116 million in revenue last quarter selling their data analytics software and related services.

Then, they seem to be taking out $4bln+ in debt to buy crypto to fund their "treasury operations" (crypto purchases).

https://assets.contentstack.io/v3/assets/bltb564490bc5201f31/blte0b82e7c89a4feb3/67238407ec6903679e80cdc5/form-10-q_10-31-2024.pdf

What is this company? A software company bringing in over half a billion in revenue a year, or a crypto investment company?

It’s basically a Bitcoin bank with a market cap near $100 billion. The software business is now basically immaterial to the valuation and overall financials. Businesses are allowed to change their strategies. Amazon went from being a bookseller to a cloud company. The MSTR Bitcoin strategy was controversial four years ago but Saylor has had the last laugh.

Amazon was never really a bookseller. The book selling was just a loss leader to get everyone comfortable with buying on the internet. The end game was always to dominate internet sales — of everything.

[Anonymous]

Anonymous wrote:I’m actually glad to see so many against bitcoin. This forum is probably reflective of the sentiment of a lot of “DC urban moms and dads” who haven’t caught on that Bitcoin is the part of the future of finance. You’re a good sample set of a subsection of America’s public. Your hesitancy shows we have a way to go. Prices have not yet begun to reach their zenith. I’m going to keep buying bitcoin. Even through the impending crash or pullback. Thanks, all.

OP here - yes, the replies here suggest how early we are. Financially sophisticated people still have virtually no understanding of it. Any rational long term investor should have at least some allocation. Risky sure but Upside potential too immense

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Do any of the large generic mutual funds long Vanguard's have Bitcoin / adjacent securities mixed in?

Index funds would automatically own MSTR and such.

Why hasn't Microstrategy been sued by investors for negligence? They're a local company and have been a software comapny for 20+ years. You can even see their website now -- they offer a data analytics product:
https://www.microstrategy.com/

They shouldn't be dabbling in bitcoin by buying more than $2bln of it. Investors who want bitcoin exposuer have other avenues fro it. Investors who want to invest in the data analytics software industry should (in theory) buy MSTR to get exposure to that.

They are doing nothing illegal. btw, they own $40 billion now. has been best performing stock in the market by a huge margin. why would any shareholder sue them?

To me, it's negligence. For example, I may buy Microsoft because I want to invest in the tech industry. I wouldn't expect Microsoft to go into oil exploration and oil wells. I'd buy Shell or Mobil if I wanted to have exposure to that.

Microstrategy is a well-known software company that's been in this area for 20+ years. I think I even interviewed for them to be a software dev back when I was jsut getting out of college. They should set up a "Bitcoin investment company" if that is their goal.

They now literally call themselves a Bitcoin treasury company. The software operations are largely irrelevant now. The company decided to make a strategic change, fully disclosed, and the results have been extraordinary- yet you think they should be sued?

They made $116 million in revenue last quarter selling their data analytics software and related services.

Then, they seem to be taking out $4bln+ in debt to buy crypto to fund their "treasury operations" (crypto purchases).

https://assets.contentstack.io/v3/assets/bltb564490bc5201f31/blte0b82e7c89a4feb3/67238407ec6903679e80cdc5/form-10-q_10-31-2024.pdf

What is this company? A software company bringing in over half a billion in revenue a year, or a crypto investment company?

It’s basically a Bitcoin bank with a market cap near $100 billion. The software business is now basically immaterial to the valuation and overall financials. Businesses are allowed to change their strategies. Amazon went from being a bookseller to a cloud company. The MSTR Bitcoin strategy was controversial four years ago but Saylor has had the last laugh.

Amazon was never really a bookseller. The book selling was just a loss leader to get everyone comfortable with buying on the internet. The end game was always to dominate internet sales — of everything.

The point is still relevant- Amazon modified its mandate from retailer to cloud provider. Companies are allowed to evolve as they see fit

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think many people in dmv with high clearance are not allowed to buy/own crypto directly. Buying mstr & Tesla are the ways to buy crypto “legally”. My bad for not buying any after Trump got elected on nov with my fun money.

Can't they buy one of the many Bitcoin ETFs?

For example:
I am told that I can not buy bitcoin directly on coinbase or PayPal. It is ok to buy mstr, Tesla. I don’t know the logic!

It’s fine to buy registered securities because those transactions are traceable. Crypto is not. The only real value for direct ownership of crypto is money laundering, and it’s pretty obvious why they wouldn’t want people with a security clearance holding them.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:The mining is terrible for the environment!

So are electric batteries and huge windmills.

What a stupid comparison. Batteries and windmills are cheap sources of electricity. They replace harm from fossil fuels so they are a net improvement— more batteries and windmills are good for the economy and environment.

Bitcoin replaces nothing except maybe gold and obscure stocks as vehicles for speculation so having more of them does nothing good for the economy or environment.

There are a lot of counterarguments. Bitcoin miners have been developing interesting projects that allow them to use surplus electricity off peak. The traditional banking system also consumes a lot of energy. The energy invested in bitcoin is the cost of making the network secure.

Just because people make up FUD/fig leaf arguments doesn’t mean we should buy them.

There are already plans to deploy batteries so there won’t be “surplus” energy and it’s just nonsense to compare the energy used by banks to the energy used by bitcoin mining. And again bitcoin is not serving a purpose so there’s no benefit to investing a lot of resources into making it secure (unless you are a speculator or criminal).

It serves a tremendous purpose. Read The Bitcoin Standard. Ultimately it’s a financial network that requires energy to support.

[Anonymous]

Anonymous wrote:Random youtubers create their own cryptocurrency. Their followers spend millions on the "coins".

What problem is this solving, and why is this a good thing?

https://www.bbc.com/news/articles/c89xvjkzzyvo

There are over 100k different "scam" tokens out there:
https://www.securities.io/5-worst-rug-pulls-in-crypto/

Lots of red flags in my finanicially risk-averse mind.

In terms of "problem solved" - read up on the "byzantine generals problem", proof-of-work and Elliptic Curve Digital Signature Algorithm.

WRT scams - there are literally scams everywhere in the financial word and commerce in general, that's not unique or exclusive to crypto currency. Your main issue is your lack of understanding of the underpinning so to you and others like you, the risk seem greater than it actually is.

[Anonymous]

50+
Millions
3% in btc and alt coins.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The mining is terrible for the environment!

So are electric batteries and huge windmills.

What a stupid comparison. Batteries and windmills are cheap sources of electricity. They replace harm from fossil fuels so they are a net improvement— more batteries and windmills are good for the economy and environment.

Bitcoin replaces nothing except maybe gold and obscure stocks as vehicles for speculation so having more of them does nothing good for the economy or environment.

There are a lot of counterarguments. Bitcoin miners have been developing interesting projects that allow them to use surplus electricity off peak. The traditional banking system also consumes a lot of energy. The energy invested in bitcoin is the cost of making the network secure.

Just because people make up FUD/fig leaf arguments doesn’t mean we should buy them.

There are already plans to deploy batteries so there won’t be “surplus” energy and it’s just nonsense to compare the energy used by banks to the energy used by bitcoin mining. And again bitcoin is not serving a purpose so there’s no benefit to investing a lot of resources into making it secure (unless you are a speculator or criminal).

It serves a tremendous purpose. Read The Bitcoin Standard. Ultimately it’s a financial network that requires energy to support.

Why do we need a new financial network? It’s actually not in the US national interest to provide an alternative to the dollar as reserve currency. Aside from speculators and criminals what problem does bitcoin solve and how is it better than what we have?