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

[Anonymous]

Anonymous wrote:

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)

Yes, each wallet has a specific address that can be traced back to someone or some company. Why do you think we know when the US government or other countries like Germany buy or sell? It’s all traceable.

If you want to do something like money laundering in the crypto space, you need a private coin like Monero, which shields and blocks transactions from being shown.

[Anonymous]

47 and years ago we purchased 10 for around 3k each. All other investments are worth about 3M. so i guess it is now 25% of our investments.

at this point we have basically forgotten about the 40k investment and will hold onto it for as long as we can. Hope to one day give one to each of the kids for a wedding gift (or some other milestone).

[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."

I think this literally every time I go to the grocery store or buy anything with my rapidly devaluing dollars.

[Anonymous]

Imagine not buying bitcoin. Crazy.

[Anonymous]

Just read the JP Morgan analytics cited above: majority of the US investors lost money on it.

[Anonymous]

Anonymous wrote:Just read the JP Morgan analytics cited above: majority of the US investors lost money on it.

You do realize asking JPMorgan, the largest bank, to weigh in on Bitcoin and crypto is like asking Barnes and Noble to weigh in on Amazon in 1997.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just read the JP Morgan analytics cited above: majority of the US investors lost money on it.

You do realize asking JPMorgan, the largest bank, to weigh in on Bitcoin and crypto is like asking Barnes and Noble to weigh in on Amazon in 1997.

They just provided stats of 600k clients accounts. Very few people had actually gained from owning Bitcoin.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just read the JP Morgan analytics cited above: majority of the US investors lost money on it.

You do realize asking JPMorgan, the largest bank, to weigh in on Bitcoin and crypto is like asking Barnes and Noble to weigh in on Amazon in 1997.

They just provided stats of 600k clients accounts. Very few people had actually gained from owning Bitcoin.

Maybe those 600k people didn't understand that the key to Bitcoin gains are going online and talking to everyone about Bitcoin. I mean everyone on the internet has 250% gains in Bitcoin.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just read the JP Morgan analytics cited above: majority of the US investors lost money on it.

You do realize asking JPMorgan, the largest bank, to weigh in on Bitcoin and crypto is like asking Barnes and Noble to weigh in on Amazon in 1997.

They just provided stats of 600k clients accounts. Very few people had actually gained from owning Bitcoin.

I made a good amount on btc and eth (a few years ago) - but i lost an equal amount on other coins, so i came out even.

[Anonymous]

BTC and crypto of any kind is off limits for us. We don’t like to fund terrorism, cybercrime, human trafficking, and drug smuggling.

[Anonymous]

Anonymous wrote:BTC and crypto of any kind is off limits for us. We don’t like to fund terrorism, cybercrime, human trafficking, and drug smuggling.

I feel like there is one poster on here who keeps repeating this same tired sht.

[Anonymous]

The crypto bro on here is SO sad because he can’t find any fellow crypto bros on DCUM to help him hype up Bitcoin and tell him how brilliant he is. And he can’t convince anyone on DCUM (“dinosaurs” with millions of dollars in investments) to read his stupid crypto book and realize that he truly IS a genius.

He resorts to cherry picking information from the JP Morgan link that is favorable to crypto while simultaneously trying to discredit JP Morgan. Don’t trust them, trust me! (A juvenile, know-it-all poster on DCUM who reads books and reddits and thinks he is equivalent to a Wall Street analyst or portfolio manager.

No one said a little exposure to blockchain technology is bad. But again, the whole crypto thing is volatile and risky. Anyone remember Silvergate? https://silvergate.com/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just read the JP Morgan analytics cited above: majority of the US investors lost money on it.

You do realize asking JPMorgan, the largest bank, to weigh in on Bitcoin and crypto is like asking Barnes and Noble to weigh in on Amazon in 1997.

They just provided stats of 600k clients accounts. Very few people had actually gained from owning Bitcoin.

Without knowing the details, that just sounds like folks making horrible decisions on when to sell - which, interestingly enough, is a problem with retail stock investing so nothing new/unique here.

Right now, literally everyone who owns Bitcoin and bought more than 30 days or so ago, is up.

Now, if you bought in March @71k and sold in Aug @55k then that's on you for locking in the loss.

My advice to everyone here: buy low, sell high - not the other way around.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just read the JP Morgan analytics cited above: majority of the US investors lost money on it.

You do realize asking JPMorgan, the largest bank, to weigh in on Bitcoin and crypto is like asking Barnes and Noble to weigh in on Amazon in 1997.

They just provided stats of 600k clients accounts. Very few people had actually gained from owning Bitcoin.

Without knowing the details, that just sounds like folks making horrible decisions on when to sell - which, interestingly enough, is a problem with retail stock investing so nothing new/unique here.

Right now, literally everyone who owns Bitcoin and bought more than 30 days or so ago, is up.

Now, if you bought in March @71k and sold in Aug @55k then that's on you for locking in the loss.

My advice to everyone here: buy low, sell high - not the other way around.

The only problem with that is 99% people don’t know when this high/low would be. Particular with such volatile assets. Only DCUM geniuses are always timing it right making 10x profits

[Anonymous]

We have more than $50M in investments. None in crypto. While part of me wishes I had put some money in it, I don’t invest in what I don’t understand. Crypto is the modern day tulip.