Bitcoin is still early

[xraygoggles]

Ok....but I disagree... metaphorically ETH could be Amazon, or it could be Myspace. Metaphorically Bitcoin is the Internet. Much more long term upside potential to BTC. Short term, anything could happen.

Ethereum is more akin to the Internet. This post is probably the greatest and most comprehensive description of the potential of the Ethereum blockchain: https://www.notboring.co/p/own-the-internet

Smart Money(TM) seems to think the long-term potential of ETH could be up to 25-35k, versus 175k (up to 400k) for BTC. So looking at their current prices, Eth would be the better bet.... this analysis is fairly recent too (9/2021). Make your own decisions of course, according to risk tolerance, asset allocation, et al.

ETH: https://www.tbstat.com/wp/uploads/20...stor-guide.pdf
BTC: https://www.tbstat.com/wp/uploads/20...stor-guide.pdf

[chrisCD]

What is the phrase, if you already won, stop playing the game. I am comfortable with my plan. I have used two funds to trade in and out of Crypto. I also trade in and out of several stocks. This is with a very small portion of my portfolio. It is something I do for fun, that so far has had decent results. But, I don't feel the need to buy and hold crypto. I don't buy and hold lots of things. It is a personal decision. It isn't stupid, dumb, or lazy. It is my personal choice. You do you.
cd :O)

[NapoleanDynamite]

What is the phrase, if you already won, stop playing the game. I am comfortable with my plan. I have used two funds to trade in and out of Crypto. I also trade in and out of several stocks. This is with a very small portion of my portfolio. It is something I do for fun, that so far has had decent results. But, I don't feel the need to buy and hold crypto. I don't buy and hold lots of things. It is a personal decision. It isn't stupid, dumb, or lazy. It is my personal choice. You do you.
cd :O)

Based on the quote at the bottom of your post, I thought you might like this book. I have read it and it is decent. Not my favorite Bitcoin reading, but a very good book and perspective. Could have been better written IMO.

https://www.amazon.com/Thank-God-Bitcoin-Corruption-Redemption/dp/1641991216

As for "if you have already won then stop playing the game"....Very true.

I'm not as confident as you seem to be in the "won" part. Guess I'm not as confident in the almighty dollar...or maybe I'm just not nearly as wealthy as you. Congrats if that's the case! Either way, there is a non-zero chance you are wrong about the thought that you have already won, just like there is a non-zero chance that I am wrong and Bitcoin goes to zero. I like to hedge my risk.

[Zzyzx]

Anyone using Kraken, ftx.us, Blockfolio, ...? Or just coinbase?
Which exchanges are easy to move in and out of, particularly if you plan to move your coins into a cold wallet?

[jacoavlu]

to gain any understanding of bitcoin one should try to understand what money fundamentally really is. not “dollars” not “currency”. money

[NapoleanDynamite]

Anyone using Kraken, ftx.us, Blockfolio, ...? Or just coinbase?
Which exchanges are easy to move in and out of, particularly if you plan to move your coins into a cold wallet?

I wasn't a fan of Kraken's Interface.

I have also used CashApp, Gemini, Coinbase, Coinbase Pro, Ledger, Swan Bitcoin, and Strike for purchases. At this point the only two I use are Swan and Strike. Strike is the lowest absolute price (essentially zero) but it has low limits. I use Swan for my Weekly DCA buy. If you want crypto's other than Bitcoin you will have to use one of the others exchanges.

[jacoavlu]

bogleheads banned bitcoin discussion by the way

[Zzyzx]

I wasn't a fan of Kraken's Interface.

I have also used CashApp, Gemini, Coinbase, Coinbase Pro, Ledger, Swan Bitcoin, and Strike for purchases. At this point the only two I use are Swan and Strike. Strike is the lowest absolute price (essentially zero) but it has low limits. I use Swan for my Weekly DCA buy. If you want crypto's other than Bitcoin you will have to use one of the others exchanges.

right, I'm looking at other coins beyond BTC. And one that will easily let me transfer to a cold wallet.

[Zzyzx]

bogleheads banned bitcoin discussion by the way

and.... ?
what's your point?

[jacoavlu]

and.... ?
what's your point?

there is not point it’s just a statement of fact

[xraygoggles]

bogleheads banned bitcoin discussion by the way

Yea, that was a total bummer - they banned it like a week or two before the spectacular correction in May - so the Boglehead brigade didn't even get to gloat and rub it in our faces...

But seriously, there were some wicked smart people there who were posting highly technical, detailed, and analytical (aka Bogle-ish) type of posts, but about cryptocurrency, including some DeFi projects along with BTC/ETH, which I really appreciated and sometimes even gained insight from. Too bad they dropped the ban hammer...

[CordMcNally]

bogleheads banned bitcoin discussion by the way

Bogleheads kind of reminds me of the PGA Tour. They have the opportunity to do things to at least make themselves more popular with the younger generation but they can't get out of their own way.

[Brains428]

Kraken is ok. It wasn't as easy to use the USD over there earlier in the year because you had to use their bank transfer which required a fee. I think it changed in the last few months. I originally used it to swap tokens that weren't available on Coinbase.

Bogleheads does have a lot of very intelligent people. It would be nice if they were more open minded, but I'm guessing the mods running a tight ship really helps people stay on task. There are a million other places to find other discussions for things you want to discuss.

[jacoavlu]

BUT... you should also DCA Ether as well, since, going forward, there's more upside potential (in the long run).

My other concern, is that one day there will be a leader in the crypto world. I'm not sure it will be bitcoin... So say its etherum or another coin. When do you know its time to abandon bitcoin and sell and start buying more etherum?

understand most if not all of these other “cryptocurrencies” are just securities masquearading as “digital tokens” instead of traditional stocks that one would invest in a company.

they are “tokens” that are created by known persons, premined and sold to a closed pool of initial investors including lots of VC types, hyped and then offered to retail at a higher price which pumps the market cap and the bags of the initial investors.

they are entities centralized to some variable degree between moderately and entirely. most if not all of them could be “turned off” in the right circumstances. by some gov action. by arrest of death of the head honcho. because AWS went down. whatever

for instance you can go watch youtube videos of vitalik shilling eth to early investors the same way an owner would present to VC selling equity in a company pre IPO. eth had something like a 70% pre mine

you can go listen to sec head gensler making the point

some of them are just straight up scams

people are free of course to invest in what they wish but understand these alt coins are basically just analogous to investing in individual stocks.


that is not bitcoin. bitcoin is much more analogous to gold. it is hard money with a fixed supply and a tie to the physical world because of the proof of work protocol. it has reached escape velocity to where it can’t be “turned off”. there is no figurehead to put in jail. china bans mining and so the miners move to more friendly jurisdictions.

[NapoleanDynamite]

Yea, that was a total bummer - they banned it like a week or two before the spectacular correction in May - so the Boglehead brigade didn't even get to gloat and rub it in our faces...

But seriously, there were some wicked smart people there who were posting highly technical, detailed, and analytical (aka Bogle-ish) type of posts, but about cryptocurrency, including some DeFi projects along with BTC/ETH, which I really appreciated and sometimes even gained insight from. Too bad they dropped the ban hammer...

It is truly crazy to me that Bogleheads and Bitcoiners don't get along better. They are literally 99% the same. Low Tim Preference. Save Don't Spend. Only invest what you can afford (although there are some rare Bitcoiners that would recommend using leverage due to interest rates), Don't waste your money on things you don't need, DCA into your position, Just keep buying and let the CAGR/Compound interest effect work for you. All of these main principles are exactly the same between Bitcoiners and Bogleheads. Somehow though, the Bogleheads think that Bitcoin is the most evil thing on the planet, and the Bitcoiners think that the Bogleheads are the most ancient artifacts to exist. In fact they are far more similar than dissimilar in their beliefs.

Unfortunately the "crypto boys" get mixed in with Bitcoiners. Ironically most Bitcoiners, just like most Bogleheads have strong feelings towards the "crypto boys"