Bitcoin is still early

[NapoleanDynamite]

Bitcoin is also a security IMO. You are buying it with the hope of its value appreciating due to the network expanding and it actually having use cases. I fail to see how it doesn’t meet those 4 points.

That's ok that it is a security in your opinion. But both the IRS and the SEC see it as a commodity in the USA. Since they are the regulators, I fall back to what they decide even if I don't agree.

It is a currency IMO. But again, I'm not the regulator. So it is currently a commodity in the USA.

[HM7]

VC firms raised $21.6B for crypto investments in 2022.
So far in 2023, $0.5B. If annualized, it's about a 94% drop.

[Cool Breeze]

That's ok that it is a security in your opinion. But both the IRS and the SEC see it as a commodity in the USA. Since they are the regulators, I fall back to what they decide even if I don't agree.

It is a currency IMO. But again, I'm not the regulator. So it is currently a commodity in the USA.

I can easily argue it doesn't meet all 4. What is that guy smoking?

It doesn't have an original issuer. End of story = commodity. It's just a better form of gold. You get bizarre logic from people on this topic all the time, because they are the emotional ones, and it's strange why, but I think it has to do with change and ego. A page ago someone said gold was different "because you can hoard it"? lol, where do people come up with this stuff and actually think they make sense?

[Tim]

Probably needed a separate thread. However, custody and markets have been trashed and have had credibility damaged badly. Tons of bad actors.
Citadel Securities, Fidelity, Schwab might be considered bad actors, but I do not.

https://www.marketwatch.com/story/new-crypto-exchange-edx-backed-by-citadel-securities-fidelity-schwab-starts-operation-47ce868f

EDX opened for business as an exchange for institutional investors. I am pretty sure that these institutions are not the bad actors of the swamp the developed and is being brought down by the governments. BTC will have a place for institutional investors. Does not quite fit the mold as the utility for the unregulated little guy.
The technology may have a place after all. Pretty big hitters here will expect a return for their services. Not to be construed as an investment in BTC, simply a market demand is thought to exist.

[Tangler]

What happened to all you guys?
How is your crypto venture going?

[Tangler]

I’m confused if this is a joke.

I hope so.

[Tangler]

and also to be clear, bitcoin mining doesn't emit any carbon

https://twitter.com/RiotPlatforms/st...004892162?s=20

Yeah, and electric car production & charging is an energy free process also, that happens when unicorns use their magic fairy dust crystals to produce electricity and batteries with a net beneficial environmental impact that is organic, natural, dolphin safe, gluten free, locally sourced, non-GMO, and renewable.

[jacoavlu]

What happened to all you guys?
How is your crypto venture going?

hey

going well thanks

[G]

What happened to all you guys?
How is your crypto venture going?

In 2022, I bought a little, 0.6% of my NW. I just checked, with price drop and other assets going up (along with a little work income), it is now 0.2% of my NW.

Still waiting for that 10X!

[jacoavlu]

In 2022, I bought a little, 0.6% of my NW. I just checked, with price drop and other assets going up (along with a little work income), it is now 0.2% of my NW.

Still waiting for that 10X!

you bought a shitcoin tho

[G]

you bought a shitcoin tho

the price of laziness! and underestimated the time for the ETF to be approved.

[NapoleanDynamite]

What happened to all you guys?
How is your crypto venture going?

Still here. Since my original post I have increased my investment in Bitcoin by about 40%....and by this I mean that I own about 40% more Bitcoin than I did in 2020. Still doing my boring DCA stuff just like I do with my stonks, real estate, and other investments.

Bitcoin has been my best returning asset class since 2020 for what it is worth.

[NapoleanDynamite]

the price of laziness! and underestimated the time for the ETF to be approved.

G - You bought in 2022? Then you happened to buy at a shitty time. Like any investment, trying to "time the market" is tough. Time in the market is much more important. Over the next 5-10 years I think you will do well....even though it sounds like you only bought GBTC?

I don't know on this one....but my opinion on GBTC: I think it will eventually either get converted to an ETF, the bitcoin value will be returned to investors in dollars and the bitcoins will be sold on the open market and the Trust will be dissolved, or most likely (in my opinion), Blackrock or another large firm will buy out the 500K bitcoin in the fund and convert it to become their ETF. Either way, patience is a virtue

[xraygoggles]

Bitcoin has been my best returning asset class since 2020 for what it is worth.

This is a very bad reason to invest in bitcoin NOW - but a good reason to invest in bitcoin in 2020.

Similarly, Dogecoin was my best return by far - but it's not a good investment rn.

[G]

G - You bought in 2022? Then you happened to buy at a shitty time. Like any investment, trying to "time the market" is tough. Time in the market is much more important. Over the next 5-10 years I think you will do well....even though it sounds like you only bought GBTC?

I don't know on this one....but my opinion on GBTC: I think it will eventually either get converted to an ETF, the bitcoin value will be returned to investors in dollars and the bitcoins will be sold on the open market and the Trust will be dissolved, or most likely (in my opinion), Blackrock or another large firm will buy out the 500K bitcoin in the fund and convert it to become their ETF. Either way, patience is a virtue

Yeah, GBTC. Yeah, not really market timing, I forget the specifics, but I had extra cash sitting around that had not already been allocated. (It could've been worse: at least it wasn't 2021.) Yeah, we'll see what happens with the thing!