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

[Anonymous]

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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

My husband manages a hedge fund and we own zero bit coin. But I'm sure you are much more financially sophisticated than him. He has never thought of crowd sourcing financial advice from DCUM, so that's obviously shows how little he knows about the stock market and the economy.

Don't waste your time arguing with crypto clowns. It's like talking to someone who watches Fox News. You quickly see a trend, and the trend is zero substance.

lol some of these posts are so hilarious. Fox News? Bringing politics into this now because you can’t prove a point?? Sheesh. You might as well have thrown a “let’s go Brandon” chant in your post.

Some bro posting on a mommy site proclaiming to be smarter than Warren Buffet and Vanguard is just ridiculous and nobody is going to really put much effort into debating you. Waste of time just like this post lol

There is nothing to debate though. Who’s claiming to be smarter than any of them? Some of us were buying this years ago, has nothing to do with listening to these dinosaurs. And if we were wrong, I would’ve been out a maybe 1-2k that I spent to buy the initial BTC back in 2016.

Some of you get so angry that people got in early and you missed out, so you either dismiss it or make up red herrings to make yourself feel better.

[Anonymous]

I bought a little bit a little while ago for kicks. I’m holding onto it. It’s not enough to make a difference one way or another, even if it goes up 20x. I originally dismissed it a decade ago but I also thought we would never use cameras inside phones.

[Anonymous]

You know who loves BTC?

Energy companies. It’s a way to keep profits high because of the infinite demand it places on energy supplies in order to mine the remaining bits of Bitcoin.

Let’s look at the end game here of who benefits from Bitcoin: sanctions evaders (ie, those shut out of traditional financial markets), money launderers, energy suppliers.

Gee, I wonder who Satoshi might be?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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

My husband manages a hedge fund and we own zero bit coin. But I'm sure you are much more financially sophisticated than him. He has never thought of crowd sourcing financial advice from DCUM, so that's obviously shows how little he knows about the stock market and the economy.

That's nice, hun - why don't you hand him the keyboard so we can have a more informed discussion here?

TIA!

Nice misogyny. I’m not your “hun.” And he thinks DCUM is stupid and a total waste of time.

Ask your husband what he thinks is behind the surge in BlackRock's new IBIT ETF which hit $50 billion invested in a record 228 days this year. If he's good at what he does and isn't paying attention to this, that's a huge blind-spot.

[Anonymous]

Anonymous wrote:38 years old and married. Net worth of $3 million. 1.5 million of it is stock investments and homes (we own one rental house).

The other 1.5 million is in Bitcoin. I bought 15 Bitcoin back in 2015 and held this entire time. I will probably not sell until each coin is worth $500k. I bought the bitcoin when it was about $200 a coin, so I figured why not. Now, it’s being used as my 3 kids college funds and their future.

I just have to laugh at the people who keep saying Bitcoin is for criminals. If so, why are the US government and corporations like Blackrock and Fidelity buying it?

I wouldn't hold 50٪ of my net worth in crypto. Or if i did, i just wouldn't count it bc it's unrealized gains.

[Anonymous]

Anonymous wrote:You know who loves BTC?

Energy companies. It’s a way to keep profits high because of the infinite demand it places on energy supplies in order to mine the remaining bits of Bitcoin.

Let’s look at the end game here of who benefits from Bitcoin: sanctions evaders (ie, those shut out of traditional financial markets), money launderers, energy suppliers.

The energy point is really overstated. Because Bitcoin mining can be performed any time of day it’s perfect for balancing electric grid loads. It can also be done anywhere so it’s perfect for renewable energy. In fact Bitcoin mining companies are funding the development of renewable energy infrastructure. Bhutan is using hydro power. Energy is needed to make the network secure just as a lot of energy goes into the traditional finance system, gold mining etc. These are rookie criticisms.
Gee, I wonder who Satoshi might be?

[Anonymous]

Anonymous wrote:You know who loves BTC?

Energy companies. It’s a way to keep profits high because of the infinite demand it places on energy supplies in order to mine the remaining bits of Bitcoin.

Let’s look at the end game here of who benefits from Bitcoin: sanctions evaders (ie, those shut out of traditional financial markets), money launderers, energy suppliers.

Gee, I wonder who Satoshi might be?

I'm none of those and have benefited from crypto(not just Bitcoin) since 2017.

One theory for Satoshi is Hal Finney - he was the recipient of the first Bitcoin transaction and was involved from the beginning:

https://en.wikipedia.org/wiki/Hal_Finney_(computer_scientist)

[Anonymous]

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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.

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?

It's an interesting debate. Honestly, read The Bitcoin Standard. Tremendous book that is more about the nature and history of money than Bitcoin. Bitcoin advocates argue that Bitcoin will support the dollar as the global reserve currency--it will bring capital into the United States. Technologically, it's like going from snail mail to email. Much more efficient and it's happening globally whether we like it or not. The criminal element is overstated. All transactions are on a public ledger. The US has 200,000 bitcoin now because it was able to confiscate it from criminals. There are a lot of laws and regulations around custody.

The big problem it solves is protection from fiat money debasement.

If “fiat money debasement” is the biggest problem it solves then the US certainly shouldn’t be putting any resources into it— whether that means crashing our electric grid or actually spending tax dollars.

It's the problem it solves for humanity--basically taking money out of the hands of government, which historically abuses its power to print (often leading to wars and other waste). The electric grid won't crash--it's minor vs AI. Using tax dollars to position the US as a leader in the monetary network of the future makes strategic sense.

So the problem crypto solves is taking money control away from government? How big of a problem has that been in the last 50 years in the US?

From what I understand, little actual business is being conducted using crypto, eithe due to lack of popularity or slow transaction processing times. People convert the crypto back to USD when they want to actually buy something.

I just can't recall a time when I thought to myself "Wow, life would be so much easier if the US government didn't control the dollars I hold."

[Anonymous]

Two out three of these women also love bitcoin:

https://www.reddit.com/r/Bitcoin/comments/1do4ts0/the_most_legendary_bitcoin_clip

I think bitcoin is a revolutionary and valuable new store of value and I recommend everyone learn more about it.

But I also think that sketch is funny lol.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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?

It's an interesting debate. Honestly, read The Bitcoin Standard. Tremendous book that is more about the nature and history of money than Bitcoin. Bitcoin advocates argue that Bitcoin will support the dollar as the global reserve currency--it will bring capital into the United States. Technologically, it's like going from snail mail to email. Much more efficient and it's happening globally whether we like it or not. The criminal element is overstated. All transactions are on a public ledger. The US has 200,000 bitcoin now because it was able to confiscate it from criminals. There are a lot of laws and regulations around custody.

The big problem it solves is protection from fiat money debasement.

If “fiat money debasement” is the biggest problem it solves then the US certainly shouldn’t be putting any resources into it— whether that means crashing our electric grid or actually spending tax dollars.

It's the problem it solves for humanity--basically taking money out of the hands of government, which historically abuses its power to print (often leading to wars and other waste). The electric grid won't crash--it's minor vs AI. Using tax dollars to position the US as a leader in the monetary network of the future makes strategic sense.

So the problem crypto solves is taking money control away from government? How big of a problem has that been in the last 50 years in the US?

From what I understand, little actual business is being conducted using crypto, eithe due to lack of popularity or slow transaction processing times. People convert the crypto back to USD when they want to actually buy something.

I just can't recall a time when I thought to myself "Wow, life would be so much easier if the US government didn't control the dollars I hold."

It has actually been a huge problem, as we have lurched from financial crisis to financial crisis. And we just lived through a highly destructive 20% inflation wave. The reality is, bitcoin is being adopted as a savings vehicle that will ultimately grow in importance as a financial asset (but not necessarily for small purchases). This is potentially a bigger deal for the rest of the world (96% of the global population) than the US. But the US has the opportunity to lead here. More importantly, individuals have the opportunity to take advantage of the change. I really encourage you to read The Bitcoin Standard to understand the other side of the argument. Your questions are good.

[Anonymous]

Anonymous wrote:You know who loves BTC?

Energy companies. It’s a way to keep profits high because of the infinite demand it places on energy supplies in order to mine the remaining bits of Bitcoin.

Let’s look at the end game here of who benefits from Bitcoin: sanctions evaders (ie, those shut out of traditional financial markets), money launderers, energy suppliers.

Gee, I wonder who Satoshi might be?

You realize that EVERY BTC transaction is completely transparent on the blockchain, right? It’d be the worst thing to use for that. Cold hard cash would be easier, in this case.

I always find posts like these to be hilarious. The poster clearly never know what they’re talking about and just say a bunch of nonsense.

[Anonymous]

over $10m in stocks/equities and we just put 5k in a crypto ETF. Also, we have a decent holding of MSTR

[Anonymous]

This whole thread reeks of GameStop stock pumping.

Unsurprisingly, those pumping it always think they are the smartest person in the room - smarter than people that literally make their living investing. That’s why they are so hard to take seriously.

People that understand markets recognize that it always comes down to fundamentals. Bitcoin is four times more volatile than the S&P and backed by….nothing. A couple of days ago, JP Morgan wrote a good short analysis that is easy to read. https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/market-updates/on-the-minds-of-investors/does-crypto-deserve-a-place-in-portfolio-construction/

[Anonymous]

Anonymous wrote:This whole thread reeks of GameStop stock pumping.

Unsurprisingly, those pumping it always think they are the smartest person in the room - smarter than people that literally make their living investing. That’s why they are so hard to take seriously.

People that understand markets recognize that it always comes down to fundamentals. Bitcoin is four times more volatile than the S&P and backed by….nothing. A couple of days ago, JP Morgan wrote a good short analysis that is easy to read. https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/market-updates/on-the-minds-of-investors/does-crypto-deserve-a-place-in-portfolio-construction/

And yet, in the link you provided, they close with:

[...]

That said, one area where cryptocurrency does potentially have value is in the foundational innovation that underpins the asset: blockchain technology. At its core, a blockchain is a database, but one that makes significant improvements to the existing “rows and columns” method of storing information: it does not require intermediaries to function (which, for example, allows individuals to transfer assets digitally without the use of a third-party, like a bank) and it is extremely secure (the “crypto” in “cryptocurrency” refers to the cryptography that is used to secure transactions and verify the identities of users). For more promising blockchains, tokens can therefore be thought of as ownership stakes, since utilizing a blockchain requires transacting in its token.

Given these realities, the role of crypto in portfolio construction is mostly a function of risk tolerance. Cryptocurrencies are inherently unpredictable: there is little visibility into future price movements and blockchain technology, while exciting, also has few barriers to entry, meaning tokens can become obsolete (and therefore worthless) as new ones enter the market with improved functionality. As a result, for most investors, any allocation to crypto in a portfolio should be kept both small enough to ensure that even in the event of a significant sell-off it does not derail overall portfolio objectives and well diversified.


Which doesn't agree/support, at all, your opening supposition.

Additionally, all these firms are prone to talking out of both sides of their mouths:


November Was a 'Monumental' Month for the Crypto Market, JPMorgan Says

https://www.coindesk.com/markets/2024/12/09/november-was-a-monumental-month-for-the-crypto-market-jp-morgan-says


And finally, they themselves own Bitcoin ETFs:

https://cointelegraph.com/news/jpmorgan-chase-shares-spot-bitcoin-etf


So, they clearly see some opportunities in this space as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You know who loves BTC?

Energy companies. It’s a way to keep profits high because of the infinite demand it places on energy supplies in order to mine the remaining bits of Bitcoin.

Let’s look at the end game here of who benefits from Bitcoin: sanctions evaders (ie, those shut out of traditional financial markets), money launderers, energy suppliers.

Gee, I wonder who Satoshi might be?

You realize that EVERY BTC transaction is completely transparent on the blockchain, right? It’d be the worst thing to use for that. Cold hard cash would be easier, in this case.

I always find posts like these to be hilarious. The poster clearly never know what they’re talking about and just say a bunch of nonsense.

Oh we know who controls each and every wallet on the blockchain? That's news to me.

(and precisely why banks can't meet BSA/AML laws when interacting with crypto companies)