I think it’s time to move into crypto

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bitcoininthevp
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Re: I think it’s time to move into crypto

Post by bitcoininthevp » Sat Aug 21, 2021 10:29 am

Other than quibbling about the definition of money, do you have a disagreement with the fact that bitcoin is taking up an ever increasing amount of the worlds wealth (store of value)?

And do you think Bitcoin has followed the trajectory outlined in this chart so far?

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vincent_c
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Re: I think it’s time to move into crypto

Post by vincent_c » Sat Aug 21, 2021 1:39 pm

I just think it’s property that can be bought and sold in volumes where I can’t move the market and I don’t have to worry about the issuer defaulting or having to custody it anywhere.

I have been arguing for bitcoin taking up more of the world’s wealth. But how much wealth it stores has nothing to do with market cap but based on the depth of liquidity.

The chart is a useful roadmap for bitcoin and it’s not that I disagree with it but more like I don’t think it will get there. I think liquidity will be comparable to gold at some point within the next 10 years.
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bitcoininthevp
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Re: I think it’s time to move into crypto

Post by bitcoininthevp » Wed Aug 25, 2021 8:16 am

vincent_c wrote:
Sat Aug 21, 2021 1:39 pm
But how much wealth it stores has nothing to do with market cap but based on the depth of liquidity.
Of course it does. How can Bitcoin, with a 21 million supply cap, store $1,000,000,000 of wealth if the exchange rate is $1, for example? So the amount of wealth it stores exactly has to do with the exchange rate (and thus market cap).

Liquidity is also very important, Id agree. As you don't want your sale of 1 BTC to drop the BTC price $10,000.

So youd ideally want to see BTC price (market cap) AND liquidity increasing over time. Which largely, both have.
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Kriegsspiel
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Re: I think it’s time to move into crypto

Post by Kriegsspiel » Thu Aug 26, 2021 8:41 am

Opinions on the best company to use to get into buy-and-hold bitcoin?
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Re: I think it’s time to move into crypto

Post by vincent_c » Thu Aug 26, 2021 9:16 am

ETFs are coming soon, but how about miners like marathon and riot?

Microstrategy probably a proxy but I haven't looked at a chart.
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Re: I think it’s time to move into crypto

Post by Kriegsspiel » Thu Aug 26, 2021 9:54 am

I mean to hold bitcoins, not to own companies involved in crypto.
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Re: I think it’s time to move into crypto

Post by vincent_c » Thu Aug 26, 2021 10:17 am

Oh you mean like coinbase?
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Kriegsspiel
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Re: I think it’s time to move into crypto

Post by Kriegsspiel » Thu Aug 26, 2021 10:36 am

If that's a good bitcoin broker, then yes ;)
Civil service life was adapted as far as possible to the habits of the Oxford and Cambridge graduates entering the Administrative Section. Late rising in the mornings was safeguarded by starting work at 11:00am. The day ended at 5:00pm with one hour's break for lunch. There were two month's holiday a year, plus bank holidays and of course Derby Day. Saturday hours were from 11-1.
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Re: I think it’s time to move into crypto

Post by bitcoininthevp » Thu Aug 26, 2021 1:46 pm

Coinbase is fine IMHO. Stay with BTC IMHO.
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Kriegsspiel
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Re: I think it’s time to move into crypto

Post by Kriegsspiel » Thu Aug 26, 2021 2:34 pm

BlockFI was another one, and there were probably more I can't remember. I'm going to look over them all this weekend.
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Re: I think it’s time to move into crypto

Post by escafandro » Thu Aug 26, 2021 6:18 pm

Kriegsspiel wrote:
Thu Aug 26, 2021 8:41 am
Opinions on the best company to use to get into buy-and-hold bitcoin?
Why not hold in a wallet?
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bitcoininthevp
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Re: I think it’s time to move into crypto

Post by bitcoininthevp » Fri Aug 27, 2021 9:41 am

One cool option here is Unchained Capital. https://unchained-capital.com/

They allow you to purchase bitcoin right into a multisignature wallet, eliminating single points of failure. They have software and support people that will help set it up for you.
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