I’m 10% BTC and 90% S&P 500

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’ll be laughing when the government seizes all Bitcoin and jails everybody that ever possessed one. You’re gonna be first, buddy-o

That's a grotesque way to say Bitcoin as a currency has shaky future. More rational concerns for me is competition with government issued digital currency and Bitcoin never taking off and remaining a speculative asset. People are banking on Bitcoin becoming universal currency. CBDC is more likely, and competition will be killed or tightly controlled.

Why would anyone put their money in a CBDC that can be inflated away just like regular USD? No investor is going to want to hold that.

The people who criticize bitcoin for being backed by nothing ignore that almost every currency now is backed by nothing, except faith. I don't know where it's gonna go but I still hold some to get proper exposure. I'm not a huge fan of alt coins because they're very flavor of the month. Only BTC and a few others endure multiple crypto bear markets while hitting new highs with each bull.

This is where I struggle. I don't think BTC is the right block chain technology to be the long term winner if crypto were to ever become an everyday currency. All the other crypto currencies seem to small to be a reasonable high risk investment.

That’s the problem. It has value because people trade it like it has value. But technology reinvents itself so rapidly (and constantly), who’s to say if it’s still relevant in 5, 10, 20 years. It needs government backing to have a long-term future. As a crypto technology, it’s obviously antiquated.

Hoarding stacks of yellow metal in underground storage vaults and shipping them around the world also seems antiquated, yet it's still done because of an informal acceptance among humanity that the yellow metal has value.

I share some of the concerns about BTC's technology becoming outdated. On the other hand, ultimately, BTC is software and can be modified (and has been over its short lifetime already). At the end of the day, it's just math.

Ultimately, BTC as a store of value comes down to people treating it as a thing of value; the same with every store of value in recorded human history. Whether it takes off or not remains to be seen, but I don't think it's as outlandish as I once thought it was.

For anyone interested in the topic, I recommend the book The Bitcoin Standard by Saifedean Ammous.

[Anonymous]

If your bitcoin has gone up 5x, and you have only about 1mm in assets, you are too overweight crypto at 10% IMO. De-risk by selling some, you can’t diamond hand it until you’re in a stronger financial position.

[Anonymous]

Anonymous wrote:If your bitcoin has gone up 5x, and you have only about 1mm in assets, you are too overweight crypto at 10% IMO. De-risk by selling some, you can’t diamond hand it until you’re in a stronger financial position.

Real diamond hands laugh at someone saying 10% allocation to the apex asset is overweighted.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If your bitcoin has gone up 5x, and you have only about 1mm in assets, you are too overweight crypto at 10% IMO. De-risk by selling some, you can’t diamond hand it until you’re in a stronger financial position.

Real diamond hands laugh at someone saying 10% allocation to the apex asset is overweighted.

And everyone else laughs at “diamond hands” thinking bitcoin is an “apex asset”. Get real.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If your bitcoin has gone up 5x, and you have only about 1mm in assets, you are too overweight crypto at 10% IMO. De-risk by selling some, you can’t diamond hand it until you’re in a stronger financial position.

Real diamond hands laugh at someone saying 10% allocation to the apex asset is overweighted.

And everyone else laughs at “diamond hands” thinking bitcoin is an “apex asset”. Get real.

Soon, my little muppets ... soon.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If your bitcoin has gone up 5x, and you have only about 1mm in assets, you are too overweight crypto at 10% IMO. De-risk by selling some, you can’t diamond hand it until you’re in a stronger financial position.

Real diamond hands laugh at someone saying 10% allocation to the apex asset is overweighted.

And everyone else laughs at “diamond hands” thinking bitcoin is an “apex asset”. Get real.

Soon, my little muppets ... soon.

Soon, what? Soon bitcoin is going to take over and soar to the moon!?!? You are delusional and need to be evaluated by a mental health professional. You need help.

[Anonymous]

Best regards!

[Anonymous]

Anonymous wrote:If your bitcoin has gone up 5x, and you have only about 1mm in assets, you are too overweight crypto at 10% IMO. De-risk by selling some, you can’t diamond hand it until you’re in a stronger financial position.

this was very bad advice on 7/9. BTC is up 24% since then. cash isn’t up that much. S&P is up 6% since then, which by itself is great, but not 24% great.

I bet OPs allocation is now more like 12% weighted in crypto.

[Anonymous]

Bitcoin is for long term savings. It's not for selling, buying, rebalancing.
Buy proxies if you want to buy and sell. Makes sure to get out by 2026. Buy the dip 2027.

[Anonymous]

Bitcoin has been around since about 2010 -- nearly 15 years. It got really big from 2014 onward (2014 was Mt Gox, and when some large retailers started to accept BTC). Its deficiencies (slow transaction rates) have been known for years, and every year people say they will improve it, and peopel will start using it for real purchases. It's been all this time, and we stil haven't seen it.

I think it will have a place in certain areas, like it does now, mainly for black-market and grey-market transactions. But I don't see it going beyond that. For legal trade, the current system we have (cash, cards, banks) really isn't that bad in terms of ease of use (customer service is another story).

As for 90% S&P 500, the S&P 500 side is going to have downside risk as well, like being at the mercy of the US economy. I personally am 40% US market; 20% foreign (developed) markets, 15% emerging markets, and 15% risk parity/hedge.

[Anonymous]

Anonymous wrote:Bitcoin has been around since about 2010 -- nearly 15 years. It got really big from 2014 onward (2014 was Mt Gox, and when some large retailers started to accept BTC). Its deficiencies (slow transaction rates) have been known for years, and every year people say they will improve it, and peopel will start using it for real purchases. It's been all this time, and we stil haven't seen it.

I think it will have a place in certain areas, like it does now, mainly for black-market and grey-market transactions. But I don't see it going beyond that. For legal trade, the current system we have (cash, cards, banks) really isn't that bad in terms of ease of use (customer service is another story).

As for 90% S&P 500, the S&P 500 side is going to have downside risk as well, like being at the mercy of the US economy. I personally am 40% US market; 20% foreign (developed) markets, 15% emerging markets, and 15% risk parity/hedge.

It's not even good for black market and grey market. It isn't a stable store of value. Tether and other stablecoins are much better for payments and transactions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If your bitcoin has gone up 5x, and you have only about 1mm in assets, you are too overweight crypto at 10% IMO. De-risk by selling some, you can’t diamond hand it until you’re in a stronger financial position.

Real diamond hands laugh at someone saying 10% allocation to the apex asset is overweighted.

And everyone else laughs at “diamond hands” thinking bitcoin is an “apex asset”. Get real.

Hello, my little muppets!

[Anonymous]

I am still waiting to hear why Bitcoin is valuable in an economic sense. It has zero intrinsic value and there are lots of other crypto currencies just like it. Gold at least has some intrinsinc value for jewelry and electronics. Fiat currency can be used to pay taxes and is widely accepted by others in both cash and electronic form. Why would anyone pay real money for Bitcoins or any other crypto assets?

[Anonymous]

This thread aged poorly. Bitcoin all time highs. El Salvador’s currency. Trump is staffing agencies with crypto friendly leaders. Not sure what else there is to say.

[Anonymous]

Anonymous wrote:This thread aged poorly. Bitcoin all time highs. El Salvador’s currency. Trump is staffing agencies with crypto friendly leaders. Not sure what else there is to say.

So BTC may go to $100k on euphoria, this happens all time time, it will go up and down. It’s funny you made a comment about El Salvador. Do you really think comparing El Salvador’s economic decisions to the USA is apples to apples? The US will never remove the dollar and make BTC its currency. BTC is already accepted as currency from many retailers but no one actually uses it as they just hold it as an investment. It’s not a currency in the US, it’s a pipe dream investment that may or may not work out. Digital currencies - aka the dollar are a lot more plausible and likely.

Why the heck do we still use cash? It’s so stupid. Everything should be digital. It would save so much money