Bitcoin is still early

[xraygoggles]

Basically, these bonds can have 2 malicious intents:

1) Tit-for-tat for companies to set up shop in El Salvador by bribes - essentially by buying these volcano bonds.
2) Easy opportunity for Chinese companies to launder money through Tether. (capital flight, circumventing the CCP)

Given how this crypto space is entirely unregulated, it's probably better to assume whatever illegal things can happen, will likely occur. Companies are not altruistic or moral - they seek profit, no matter what it takes.

[jacoavlu]

i think you’re reaching. but i don’t really care. you can come back when it blows up and say i told you so

[xraygoggles]

i think you’re reaching. but i don’t really care. you can come back when it blows up and say i told you so

Well not really, I don't have any skin in the game, but I think its interesting to read about.

I have no interest in it blowing up - in fact, I hope El Salvador succeeds, that would be great. Time will tell though.

[ShredtheGnar]

OK, if this works as I think this totally changes the game. Anyone looked into this super TLH? No wash sale rules! Whaaat!?! https://www.blockfi.com/tax-wins-fro...ugh-volatility

[jacoavlu]

OK, if this works as I think this totally changes the game. Anyone looked into this super TLH? No wash sale rules! Whaaat!?! https://www.blockfi.com/tax-wins-fro...ugh-volatility

discussed in this thread several months back. IRS deemed “virtual currency” as property in notice 2014-21 and wash sale rules don’t apply to property. but, fair to say it’s a gray area and you just never know the position an agent may take i. an audit, or if TLH of cryptocurrency might increase risk of an audit. best if one was going to TLH cryptocurrency to be very careful using a “spec id” type approach.

[ShredtheGnar]

Now you can have your BD Roth all in Crypto. Crazy. Things are getting very interesting. $3 trillion in crypto and growing. And with new ways to put money such as this it is going to grow at an exponential rate. https://bitcoinira.com/ Hopefully they will only allow crypto that has actual usage and value.

[jacoavlu]

Now you can have your BD Roth all in Crypto. Crazy. Things are getting very interesting. $3 trillion in crypto and growing. And with new ways to put money such as this it is going to grow at an exponential rate. https://bitcoinira.com/ Hopefully they will only allow crypto that has actual usage and value.

also discussed previously. nothing specific needed. “checkbook ira” works. semi custom solo 401k too. buy whatever you want (for better or worse) as long as it’s sold on an exchange that will let you open a trust account. many will

[xraygoggles]

Now you can have your BD Roth all in Crypto. Crazy. Things are getting very interesting. $3 trillion in crypto and growing. And with new ways to put money such as this it is going to grow at an exponential rate. https://bitcoinira.com/ Hopefully they will only allow crypto that has actual usage and value.

Yep, but for the masses, including myself, IF you want crypto exposure in non-taxable accounts, then I still feel like Grayscale ETFs are the best way to do it. Yes there are currently 2% fees, but if the coin's CAGR is 100%+, does it really matter?

The only downside is the discount/premium NAV to underlying coin price, but it's possible it could close if/when spot ETF arrives. I'm referring to GBTC and ETHE btw.

[ShredtheGnar]

Yep, but for the masses, including myself, IF you want crypto exposure in non-taxable accounts, then I still feel like Grayscale ETFs are the best way to do it. Yes there are currently 2% fees, but if the coin's CAGR is 100%+, does it really matter?

The only downside is the discount/premium NAV to underlying coin price, but it's possible it could close if/when spot ETF arrives. I'm referring to GBTC and ETHE btw.

I actually do hold GBTC in an IRA. Was trading at around a 10% discount to NAV. Plan on sitting on it for at least a year or 2. Seemed like the way to go for tax deferred holding.

[Lordosis]

Yep, but for the masses, including myself, IF you want crypto exposure in non-taxable accounts, then I still feel like Grayscale ETFs are the best way to do it. Yes there are currently 2% fees, but if the coin's CAGR is 100%+, does it really matter?

The only downside is the discount/premium NAV to underlying coin price, but it's possible it could close if/when spot ETF arrives. I'm referring to GBTC and ETHE btw.

So 2% fees are alright if there is a promise that it will go up? Boy do I have some funds to sell you!!!

[xraygoggles]

So 2% fees are alright if there is a promise that it will go up? Boy do I have some funds to sell you!!!

Fair point.

Should've added the caveat: Past performance is not indicative of future results, etc.

[chucki]

I have a feeling Jack resigning from Twitter has something to do with his vision vs the Board’s about BTC vs crypto. I am sure the story will come out.

He’s a hardcore BTC maximalist — looking forward to his next move(s). I think it’s going to be something positive for Bitcoin.

[ShredtheGnar]

So 2% fees are alright if there is a promise that it will go up? Boy do I have some funds to sell you!!!

Yep. 2% ER, but there are a lot of costs involved in having a trust. More so than an equities fund with the cold wallet security and such. Also worth it to me as it takes a lot of the hassle out of owning it directly. I did go and open an interest account that does hold crypto after the fact though. Just feel like the fund is a safer way to hold in a tax deferred account.

[jacoavlu]

on 2/19/21 gbtc closed at $56.70 and btc "closed" (it doesn't ever close) at $55,886

when btc closed over $67,500 on 11/8 gbtc closed at $52.30

today gbtc closed at $47.18 and btc is around $57,500

[ShredtheGnar]

on 2/19/21 gbtc closed at $56.70 and btc "closed" (it doesn't ever close) at $55,886

when btc closed over $67,500 on 11/8 gbtc closed at $52.30

today gbtc closed at $47.18 and btc is around $57,500

NAV per share price at market close was $53.62. Closing share price around a 12% discount to NAV. It fluctuates between premium and discount. Anything wrong with buying at a discount?