That's pretty humble for BTC. From recent trough at $3200 to recent high at $58000 or so it was about 1800%
And $58k most likely not the limit. After reaching the max it will crash again loosing 70-80%.
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That's pretty humble for BTC. From recent trough at $3200 to recent high at $58000 or so it was about 1800%
90% bitcoin and 10% cash is better :-)bitcoininthevp wrote: ↑Sat Feb 27, 2021 6:04 amI’ve read some studies showing a 1% allocation to Bitcoin and 99% to cash has had crazy good returns with great sharpe ratios.
The only reason something like Bitcoin SV is something you can ignore is because the market cap is still irrelevant, if it were relevant then the same things would apply to any asset that acts as a true store of value and that you should have a market cap weighted allocation.
Hah. Well i think you’re very much in the minority. It is fully up for debate, and not because there is anything wrong with bitcoin. I think Satoshi is brilliant, the concept is brilliant, and I’m enjoying learning about it. But, gold has a few thousand years on it. Is it a fad? No one knows. It would be wrong to discount it. But it’s still young. I hope some digital coin succeeds, but ...
So maybe we should be debating whether it is still debatable whether btc is a 'true' store of value or if a lot of you still consider it a fad.
could be / I hope so.
Im not as impressed by it. While it is a creative use of blockchain technology, It is an unbelievably inefficient form of money. The energy usage per transaction is staggering and the network is unable to handle even a small transaction load. Ethereum and other coins are at least addressing these issues and as such are creating more viable options...Bitcoin strikes me as a dinosaur.dualstow wrote: ↑Mon Mar 01, 2021 10:22 amHah. Well i think you’re very much in the minority. It is fully up for debate, and not because there is anything wrong with bitcoin. I think Satoshi is brilliant, the concept is brilliant, and I’m enjoying learning about it. But, gold has a few thousand years on it. Is it a fad? No one knows. It would be wrong to discount it. But it’s still young. I hope some digital coin succeeds, but ...
Put it this way. Your line above looks kind of like “Hinduism is the one true faith and I don’t understand why that’s still debatable.”
Ok, that makes a lot more sense to me. Yes, it's a speculation that could very well be an accepted asset someday.vincent_c wrote: ↑Mon Mar 01, 2021 10:49 am
In 2017, I started off asking all the questions you probably have now.
I should rephrase what I've been saying. I think that Bitcoin is a speculation that it will one day become a true store of value which means that you can either allocate to it when it gets there and at one point it will track the price of gold when they are equals in terms of liquidity. Or you can allocate to it now if you believe that it is inevitable.
Perhaps this does mean that it belongs in the VP until its price trades the same way as gold and then we can decide whether to swap over to BTC. But I'm arguing a market cap weighting allows you to be properly exposed on the way there.
Edit: I am not adding to my allocations at these levels although I am rebalancing and my cost basis is well below 18k. I do not recommend buying at current prices but I do recommend hedging against the risk that current prices are actually below the price that the market will fall to during the next bear market.
doodle wrote: Im not as impressed by it. While it is a creative use of blockchain technology, It is an unbelievably inefficient form of money.
...
I don't know about anyone else, but the number one thing I'm watching is to see how governments handle it.
What's the evidence?
All major US government departments have reported on how Bitcoin should be treated (IRS, SEC, etc).
Well, Bitcoin is an inflation-resistant, censorship-resistant, seizure-resistant, pseudonymous digital asset.
i’m not quite that old.
All important milestones, I agree.bitcoininthevp wrote: ↑Mon Mar 01, 2021 12:37 pmAll major US government departments have reported on how Bitcoin should be treated (IRS, SEC, etc).
US Banks allowed to custody it.
Avanti got a bank license and will be part of the fed network of banks and they are a Bitcoin bank.
Coinbase is allowed to go public as a Bitcoin company.
Federal government has auctioned seized Bitcoin several times. (they dont auction off seized cocaine, for example)
That doesn’t mean US will alway look kindly on it. In fact, my thesis involves quite a showdown with Bitcoin and governments. After all, the whole point of Bitcoin is that it is anti-central bank. But I will take this calm before the storm in the meantime. Hopefully enough big businesses, HNWIs, politicians, etc get into bitcoin so the showdown isnt as bad as I think.
Emphasis mine.bitcoininthevp wrote: ↑Mon Mar 01, 2021 1:05 pmWell, Bitcoin is an inflation-resistant, censorship-resistant, seizure-resistant, pseudonymous digital asset.
And governments like inflating, censorship, taxation, and privacy intrusion.
Neither am I. But HBPP book mentions that in the chapter about gold :-)