BTC in the PP

[boglerdude]

> he'd give me a 10% discount for paying in bitcoin

What I'm watching for in terms of adoption, but as social trust erodes I'm inclined to use credit cards where you can dispute.

There's a problem unfolding in CA with the state not paying out "inflation act" rebates and the HVAC guys are going after customers.

[dualstow]

Bread has moved to Coinbase, and Coinbase is now Base.
I can still get in with my 12 magic words, thank zod (Marc’s gift is worth $9,999 this weekend)
but I no longer see a way to log out. This app makes me nervous.

[seajay]

viewtopic.php?p=259177#p259177

8/25/50/17 bitcoin/gold/stablecoin/T-Bills perhaps, where the T-Bills might be periodically withdrawn to buy 'things' with and a few days later returned back into T-Bills.

[dualstow]

Jeff Sica on Fox Biz said, “Owning bitcoin is like having a tiger as a pet. It’s cool to tell people about it until it eats you.”

[ochotona]

Jeff Sica on Fox Biz said, “Owning bitcoin is like having a tiger as a pet. It’s cool to tell people about it until it eats you.”

I was just thinking, this is GYROScopicinvesting.com imagine a tiger holding a tasty gyros sandwich stuffed with man flesh

I need to find a Greek restaurant...

[dualstow]

I miss gyros. I should go back to a street vendor one of these days.

[Smith1776]

man flesh...

...Lord of the Rings?

[Dieter]

I bought a little IBIT

Plan to do quarterly purchases

Guess it's time for it all to come crashing down

Hi

Nice move on starting small and scaling in with quarterly buys — that’s a solid way to build a position over time.

Curious though… why did you decide to go with IBIT instead of self-custody?

From a tax perspective, ETFs are usually less efficient (at least in many jurisdictions), and you don’t actually own the underlying asset directly. With self-custody, you’d typically avoid some of that drag and also control the asset yourself.

Also, why not buy directly through a bank or crypto exchange? Was it mainly for simplicity / convenience, or do you have a specific tax or compliance reason for choosing the ETF route?

It's in a tax advantaged account, so, no worries about taxes

Going with an ETF was so much easier -- I've purchased ETFs before, so, just had to make the decision to buy crypto.
And taxable vs IRA\401(k)
And decide which (Bitcoin vs Etherium vs ...).
And then how (Exchange vs ETC)
Then which ETF

Aka, didn't want to also at this time figure out a crypto exchange

Figuring out a crypto exchange might be a future exercise now that I've dipped my toes into crypto

(although also maybe to get some physical silver \ gold being another todo)



Damn, another down day (so far) for IBIT.

And the overall US stock market.

The times are getting even more interesting
(albeit not surprising)

As of now, my IBIT is down 29%; SIVR up 2.2% (bought both 10/8; plus a couple of small purchases since of IBIT)

Yeah, not my best financial short term timing, but, at least IBIT is still less than 1% of my investible assets

[dualstow]

man flesh...

...Lord of the Rings?

[flyingpylon]

Just scheduled a time to have my lawn aerated, and the guy said he'd give me a 10% discount for paying in bitcoin. He says it's going to $202k soon.

So I told him "Well if that's true then I guess I'll be paying in cash!"

202, that’s very specific

Yes well you see he's built his own prediction model and claims that he's usually pretty accurate. Says $202k is the short-term top. ¯\_(ツ)_/¯

He's a bit of a character, but he does a good job on the lawn for a reasonable price!

"When even shoeshine boys are giving you stock tips, it’s time to sell..."

[mathjak107]

ibit is 2% of the portfolio.

i wouldn’t sit on more than not no matter whether i thought it was headed up or down .

its more like a tech stock then alternative now

[seajay]

ibit is 2% of the portfolio.

i wouldn’t sit on more than not no matter whether i thought it was headed up or down .

its more like a tech stock then alternative now

Bitcoin blockchain is now too controlled/regulated, you have to verify any bitcoin you receive is 'clean' or otherwise risk losing it when it passes through a regulated exchange. More recently, from 2021, bitcoin had been similar to TQQQ a 3x leveraged QQQ ETF that acts more like a 4x S&P500 type holding.

Since 2021 20/80 bitcoin/gold yearly rebalanced versus 20/80 TQQQ/gold
https://www.portfoliovisualizer.com/bac ... PKHlrN4Uh9

Code: Select all

Portfolio,CAGR,Stdev,Best_Year,Worst_Year,Max._Drawdown
20/80_Bitcoin/Gold,24.16%,18.63%,47.86%,-12.50%,-24.65%
20/80_TQQQ/Gold,24.93%,16.93% 56.27%,-15.47%,-22.38%

Now regulations/controls are up to speed the appeal of bitcoin is in decline.

GDE targets 90/90 stock/gold exposure via 90% in stocks, 10% in cash that is used to hold 90% gold exposure via Futures, as its more tax efficient to hold gold exposure that way for Americans. In the UK that flips, gold legal tender coins are exempt from purchase/sales tax and capital gains tax, so its more appropriate to leverage up the stock exposure (reduce the weighting) - held within tax exempt trading accounts, alongside holding physical gold, as above (20% bitcoin or TQQQ, 80% physical gold). Which is a form of 1.6x leveraged 50/50 stock/gold, compared to GDE being 1.8x leveraged 50/50 stock/gold. Deleveraging GDE down to 1.6x (89/11 GDE/cash) and adding that to the above link https://www.portfoliovisualizer.com/bac ... tfRwTu6WWW yielded similar gains/stdev etc.).

For some the benefits of bitcoin may still have appeal, 24/7 trading, ease of transfer etc. For others the loss of privacy and additional/other distinct risks may make it less appealing than before (risk of ending up with some dirty bitcoin that when you try to sell that back into dollars has the transaction blocked/proceeds seized due to some prior chain transaction that had been flagged as having been illicit for whatever reason (taxes not paid, part of the proceeds of blackmail/whatever ... further back down the line of prior transactions)).

[Jack Jones]

I agree. It's dead to me. If you want digital gold, buy GLD. If you want a cryptocurrency, try Monero.

[seajay]

I agree. It's dead to me. If you want digital gold, buy GLD. If you want a cryptocurrency, try Monero.

Bitcoin via coinbase -> offline wallet
binance using just a email to import the bitcoin and swap for monero
then swap back for (different) bitcoin -> to offline wallet
... does break the bitcoin chain traceability/association when a temporary email service is used for binance.

The main barrier is when it comes to bitcoin -> US Dollar bank account, where the transaction/transfer might be declined because the bitcoin is flagged as 'dirty' (no clean audit trail/association). But where you might instead bitcoin to USDt and then sell/transfer that.

A lot of bother/risks however, when instead something like TQQQ might serve/compare to bitcoin.

[mathjak107]

well bitcoin is no digital gold that’s for sure .

it’s been pummeled .

i guess the kiss of death is when you see etfs for a specific asset come out in droves .

i rebought it again and i am down about 20% but its only a bit over 1% of assets so i will just let it sit indefinitely in ibit

the ones learning a hard lesson about betting the ranch on crypto are the youngins .

they thought this was their thing , and it was going to make them rich .

only problem is by the time the masses get wind of something. the biggest gains usually have happened

[Smith1776]

I was definitely in that camp.

Fortunately dualstow talked some sense into me before the big drop and I went back to diversified investing.

[flyingpylon]

I wish I had been smart enough to buy BTC every time it got pummeled in the past.

[Smith1776]

I wish I had been smart enough to buy BTC every time it got pummeled in the past.

Indeed. It's gone down so much that I'm thinking of buying back in.

Not at the same magnitude I did before (like 80%+ of net worth), but enough to have a bit of skin in the game.

[Smith1776]

MicroStrategy (Strategy) stock also looks like a potential bitcoin value play. Down 80% or so from its peak.

[Smith1776]

Look at those declines. Holy crap, my dudes.

[mathjak107]

the drop is pretty amazing in bitcoin

[dualstow]

I was definitely in that camp.

Fortunately dualstow talked some sense into me before the big drop and I went back to diversified investing.

Thank you, but I also talked sense into Greg when he was 4% in Tesla. Probably could’ve been rich

[Smith1776]

One of the reasons why I love this forum is because it's an unbiased record of both my brilliance and dumbassery.

Keeps me accountable.

[mathjak107]

I wish I had been smart enough to buy BTC every time it got pummeled in the past.

Indeed. It's gone down so much that I'm thinking of buying back in.

Not at the same magnitude I did before (like 80%+ of net worth), but enough to have a bit of skin in the game.

i have bitcoin as just 1 to 1.25% of total invested assets . it’s a lot of dollars but relative to assets i keep it small .

gold , bitcoin and commodities are about 12% of assets with gold the lions share by far …..