Anonymous
11/09/2023 20:05
Subject: Allocating to crypto
The majority of people pumping cryptos are the one who got in early and need to bring in new buyers to keep the prices inflated...sorta like fattening up the pigs for slaughter.
Anonymous
11/09/2023 19:37
Subject: Allocating to crypto
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:What?? Is anyone still buying that?? Nuts.
Blackrock is apparently. Guess those guys are clueless.
What are some use cases for crypto that are legal and perform better than status quo system?
The illicit demand for something doesn’t in and of itself make holding it a bad investment, it’s still demand and still has impact on the price. Physical cash and occasionally gold bullion are used in illicit transactions but that doesn’t mean you become a criminal for owning these assets.
One use case that doesn’t apply as much to the US but has applied recently to other countries is capital flight. Bitcoin allows someone to leave a country with very large sums of money and they only need to memorize a 12 word seed phrase. There was a surge in BTC purchases in Russia in the initial days of the Ukraine war by people wanting to leave. This can be useful in other countries with authoritarian governments and we’ll probably see more of this activity in the future.
Additionally, in countries that suffer from hyperinflation there have been folks using bitcoin and other non fiat currencies to protect their wealth. There have been dozens of cases of hyperinflation in the past century so it’s not an unimaginable scenario (maybe it is for Americans, but who knows). You could argue they should just buy a more stable currency like USD but in some cases it might be easier to use crypto since it circumvents the banking system.
Your first use case is an illicit use to circumvent a home country's laws. Your second use is silly, as bitcoin is incredibly bad at maintaining value. Keep shilling.
Anonymous
11/09/2023 14:02
Subject: Allocating to crypto
Anonymous wrote:Anonymous wrote:Anonymous wrote:What?? Is anyone still buying that?? Nuts.
Blackrock is apparently. Guess those guys are clueless.
What are some use cases for crypto that are legal and perform better than status quo system?
The illicit demand for something doesn’t in and of itself make holding it a bad investment, it’s still demand and still has impact on the price. Physical cash and occasionally gold bullion are used in illicit transactions but that doesn’t mean you become a criminal for owning these assets.
One use case that doesn’t apply as much to the US but has applied recently to other countries is capital flight. Bitcoin allows someone to leave a country with very large sums of money and they only need to memorize a 12 word seed phrase. There was a surge in BTC purchases in Russia in the initial days of the Ukraine war by people wanting to leave. This can be useful in other countries with authoritarian governments and we’ll probably see more of this activity in the future.
Additionally, in countries that suffer from hyperinflation there have been folks using bitcoin and other non fiat currencies to protect their wealth. There have been dozens of cases of hyperinflation in the past century so it’s not an unimaginable scenario (maybe it is for Americans, but who knows). You could argue they should just buy a more stable currency like USD but in some cases it might be easier to use crypto since it circumvents the banking system.
Anonymous
11/09/2023 06:31
Subject: Allocating to crypto
I don’t. My view is that it is gambling, not investment. There is no underlying asset. It is just a medium of exchange, and a pretty dubious one at that.
Anonymous
11/09/2023 06:27
Subject: Allocating to crypto
Yes, you should. Mine is about 10 percent Bitcoin. Nothing wrong with Etherum, but one crypto and couple of individual stocks are plenty for me.
Anonymous
11/08/2023 23:52
Subject: Allocating to crypto
Anonymous wrote:Anonymous wrote:What?? Is anyone still buying that?? Nuts.
Blackrock is apparently. Guess those guys are clueless.
No, Blackrock will be offering an ETF to provide an easier option for people like OP to get crypto exposure. It doesn't mean its a good idea. Blackrock makes money regardless of whether the ETF customer ends up broke.
Anonymous
11/08/2023 21:59
Subject: Allocating to crypto
Anonymous wrote:Anonymous wrote:What?? Is anyone still buying that?? Nuts.
Blackrock is apparently. Guess those guys are clueless.
What are some use cases for crypto that are legal and perform better than status quo system?
Anonymous
11/08/2023 21:31
Subject: Allocating to crypto
Anonymous wrote:What?? Is anyone still buying that?? Nuts.
Blackrock is apparently. Guess those guys are clueless.
Anonymous
11/08/2023 21:30
Subject: Allocating to crypto
Anonymous wrote:Only if you’re a bad person
It’s not about morality it’s about making money. The S&P 500 is full of immoral companies.
Anonymous
11/08/2023 20:50
Subject: Allocating to crypto
What?? Is anyone still buying that?? Nuts.
Anonymous
11/08/2023 19:54
Subject: Allocating to crypto
Only if you’re a bad person
Anonymous
11/08/2023 19:53
Subject: Allocating to crypto
Bitcoin has no use case. At all.
Anonymous
11/08/2023 19:51
Subject: Allocating to crypto
Anonymous wrote:Should you allocate 1-2% of your portfolio to bitcoin and ethereum? Even though people like to hate on crypto the fact is BTC has outperformed the overall market by a huge amount and anyone who didn’t buy and hold a while back missed out on huge gains. I want to gain a small exposure to it because it’s rapidly becoming a legitimate asset class (as long as you stay away from alt coins). I’m thinking of DCAing more of my money into a 50/50 split between BTC/ETH that won’t exceed 1-2% of my overall net worth. Thoughts?
Given that crypto hasn't outperformed the overall market in the past 5 years, your underlying premise is wrong. And anyone who did buy and hold, which you suggest would have been the right move, in actuality got screwed over.
So, are you poorly informed or are you trying to pump crypto?
Anonymous
11/08/2023 18:47
Subject: Allocating to crypto
Only if you're okay with losing it
Anonymous
11/08/2023 18:27
Subject: Allocating to crypto
Should you allocate 1-2% of your portfolio to bitcoin and ethereum? Even though people like to hate on crypto the fact is BTC has outperformed the overall market by a huge amount and anyone who didn’t buy and hold a while back missed out on huge gains. I want to gain a small exposure to it because it’s rapidly becoming a legitimate asset class (as long as you stay away from alt coins). I’m thinking of DCAing more of my money into a 50/50 split between BTC/ETH that won’t exceed 1-2% of my overall net worth. Thoughts?