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  • Originally posted by ShredtheGnar View Post
    New digital currency in Nigeria. Will other countries follow suite? How will this disrupt current decentralized currency? Would guess China is going to be a major country to adopt its own digital currency with eYuan or something. Think Nigeria banned outside digital currency like China did. Here is a report about Nigeria’s currency. https://www.aljazeera.com/economy/20...-digital-money
    lol these central bank digital currencies are even worse than the paper money that their govs already print because they share all the horrible properties of the paper currency namely that the gov can just create more from thin air which is stealing the wealth (time) of their citizens but will also allow a high level of gov surveillance of the citizen transactions which is not possible with paper cash

    sounds like fun

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    • Originally posted by HikingDO View Post

      Yea, so he can come back and tell us how he invested in Bitcoin when it only cost $1.00. Without proof, of course.
      it honestly disappoints me that he was banned. i wasn’t around when it happened and i had plenty of disagreements with him but if he broke a forum rule i’m not aware and the point here isn’t to have a circlejerk

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      • If memory serves, numerous users reported he was sending insulting and threatening PMs. Not cool.

        Cord, sorry for the PTSD with the chart earlier!

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        • Originally posted by CordMcNally View Post

          The previous poster that used this chart wasn't using it for BTC but I believe for the market as a whole, if I remember right. I guess as a long term holder and investor, does it necessarily matter what it does from the beginning of the graph to the end as long as it goes up?
          Never use linear charts unless you're trying to paint a very spurious picture, in general

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          • Originally posted by Zaphod View Post

            Never use linear charts unless you're trying to paint a very spurious picture, in general
            I only trust charts made in Microsoft Paint.

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            • “Mr. Musk, an evangelist for digital currencies, tweeted Sunday that he doesn’t own any Shiba Inu coin.”

              Well, I now own ONE MILLION Shiba Inu coins! (Insert Dr. Evil laughter).

              Edited to add I clearly don’t know how to use Coinbase so now have TWO MILLION Shiba Inu coins (Cue double the Dr. Evil laughter!)

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              • Originally posted by SpacemanSpiff12 View Post

                It has been difficult to find measured, sober-minded educational content. If you have any recommendations, I'm all ears. Even if I don't invest, it's interesting to learn about.

                But I swear, a lot of the time I'm referred to resources it's either a gushing "white paper" describing why BTC is definitely going to hit $1MM in a couple years, or a YouTube video from a teenager named BitcoinBoi97.
                Hi, I was a crypto skeptic up until this Summer. Before I finally took the dip and waded into the crypto world, I did extensive research as well. Some of these links and papers helped ease my fear that my investment in BTC/ETH was worth the risk. One of my colleagues started investing in 2018, and crypto now occupies 65% of his portfolio. He's so bullish about BTC that he's moving his 401k into a crypto IRA. That being said, I'm in a different stage of life and career than you it seems (I'm roughly at the mid-point of my career-- zero debt and realistically more than halfway to my retirement nest egg goal). I plan on working part-time even if my retirement goals are met. I may be in better position to take the "risk" of allocating 3-5% of my investable assets into crypto than others, but ultimately, I feel like most high earning people can afford to invest at least 1% into BTC/crypto.

                ​​​​​​https://papers.ssrn.com/sol3/papers....act_id=3226952

                ​​​​​https://www.fidelitydigitalassets.co...oreofvalue.pdf

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                • Originally posted by CBZ View Post

                  Hi, I was a crypto skeptic up until this Summer. Before I finally took the dip and waded into the crypto world, I did extensive research as well. Some of these links and papers helped ease my fear that my investment in BTC/ETH was worth the risk. One of my colleagues started investing in 2018, and crypto now occupies 65% of his portfolio. He's so bullish about BTC that he's moving his 401k into a crypto IRA. That being said, I'm in a different stage of life and career than you it seems (I'm roughly at the mid-point of my career-- zero debt and realistically more than halfway to my retirement nest egg goal). I plan on working part-time even if my retirement goals are met. I may be in better position to take the "risk" of allocating 3-5% of my investable assets into crypto than others, but ultimately, I feel like most high earning people can afford to invest at least 1% into BTC/crypto.

                  ​​​​​​https://papers.ssrn.com/sol3/papers....act_id=3226952

                  ​​​​​https://www.fidelitydigitalassets.co...oreofvalue.pdf
                  I play the crypto and NFT games too but this is frankly reckless. It is a bubble that will soon likely pop. Obviously I want some exposure but having a majority of your investments in crypto is straight up dangerous.

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                  • I don't disagree, but he's in a similar situation as Napoleon. I'm sure his initial allocation to BTC was like 10%, but 10x growth in a few years will mess up anyones asset allocation. What he's planning on doing with his 401K does sound reckless to me though

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                    • Last night at work, everyone was talking about their crypto investments and trades. The patient care techs, monitor techs and housekeeping, along with some of the residents were all comparing stories about their successful crypto trades, and were all very emotional and animated. Very strong opinions and predictions by these groups.

                      It’s interesting how quickly these various individuals have become financial experts, many at very young ages. The chatter definitely coincides with Bitcoin peaks on the chart.

                      It seems that everybody with a solid negative net worth is making a killing in crypto these days. Seems like a no-lose situation for a lot of them. I congratulate them, and wish them all of the luck in the world.

                      It will be interesting to see how this plays out in the years ahead. I’m assuming it will be a generational event….. whatever happens.

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                      • Originally posted by Jaqen Haghar MD View Post
                        It will be interesting to see how this plays out in the years ahead. I’m assuming it will be a generational event….. whatever happens.
                        It'll go up and down. People who probably shouldn't be in it will get out when it goes down again. Then it'll go up again. I'm guessing those who were talking about it are probably in a lot of the memecoins.

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                        • Originally posted by Jaqen Haghar MD View Post
                          Last night at work, everyone was talking about their crypto investments and trades. The patient care techs, monitor techs and housekeeping, along with some of the residents were all comparing stories about their successful crypto trades, and were all very emotional and animated. Very strong opinions and predictions by these groups.

                          It’s interesting how quickly these various individuals have become financial experts, many at very young ages. The chatter definitely coincides with Bitcoin peaks on the chart.

                          It seems that everybody with a solid negative net worth is making a killing in crypto these days. Seems like a no-lose situation for a lot of them. I congratulate them, and wish them all of the luck in the world.

                          It will be interesting to see how this plays out in the years ahead. I’m assuming it will be a generational event….. whatever happens.
                          “crypto” is not bitcoin

                          people that don’t understand this will get rekt

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                          • Originally posted by CordMcNally View Post

                            It'll go up and down. People who probably shouldn't be in it will get out when it goes down again. Then it'll go up again.
                            hey CordMcNally you never answered me

                            https://forum.whitecoatinvestor.com/...118#post297118

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                            • Originally posted by jacoavlu View Post
                              Sorry, for whatever reason I don’t get notifications when I get mentioned.

                              I wish I had a really well thought out and well reasoned answer for you but the truth is I wanted some exposure in the smart contract space and ADA is what I ended up going with. I won’t pretend I can predict which ones will have staying power and which ones won’t.

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                              • Originally posted by CBZ View Post
                                I don't disagree, but he's in a similar situation as Napoleon. I'm sure his initial allocation to BTC was like 10%, but 10x growth in a few years will mess up anyones asset allocation. What he's planning on doing with his 401K does sound reckless to me though
                                It's interesting...I always think about the Andrew Carnegie quote in situations like this...
                                ​​​​​​"The way to become rich is to put all your eggs in one basket and then watch that basket"

                                With the vast majority of my investments/asset allocation, I invest in index funds and real estate funds (or at least I have in the past). Pretty boring and I look at them once or twice a year just like any good Boglehead .

                                However, I took a special interest in certain areas in investing and they led me to Bitcoin. I allocated 7.5% initially and yes that portion of my allocation now represents about 50% of my portfolio. I "watch it" VERY CLOSELY. In part because I enjoy it. In part because it now represents such a large percentage of my portfolio that I feel like I should. For example, I was at a meeting last week and met many people that contribute to Bitcoin development and the companies growing in this arena. I even got to speak with and get a hug from Jack Mallers. It was pretty frickin cool if you know who that is. My point being that I am pretty plugged in to the Bitcoin network. I understand it fairly well and watch it like a hawk.

                                Because of this, I have a lot of confidence that it will grow in the future. If I wasn't constantly watching and learning about it, then I would just adjust my asset allocation accordingly. But I would take a significant tax hit to do so. So I am somewhat incentivized against re-allocating and I have so much knowledge in this area that I am confident in its future growth. So my positioning is very multi-factorial.

                                But just last night I had my CFO/CPA neighbor telling me I needed to re-balance and thinking I'm crazy to hold that much of my portfolio in one thing. So I understand the general thought and don't disagree with it for most people.

                                But based on my experience and my opinion, if any high net worth individual allocated 2-5% of their portfolio to Bitcoin, over the next 10 years it will likely grow to represent >90% of their portfolio if they were to not re-balance over that time frame. It has the most asymmetric upside of any investment I have ever made. So I continue to HODL and encourage others to consider doing the same.





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