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  • Originally posted by Lordosis View Post

    No I have not. I am not interested in investing in it so why do so? If it can not be summarized reasonably succinctly it is not worth investing in.
    are you talking about a summary of bitcoin?

    or a summary of an interest bearing bitcoin account?

    Comment


    • I was talking about the interest bearing account but I have not heard a real good reason for bitcoin either.

      "It might be worth more later" is the best I have seen.

      Comment


      • Originally posted by Lordosis View Post
        I was talking about the interest bearing account but I have not heard a real good reason for bitcoin either.

        "It might be worth more later" is the best I have seen.
        Bogleheads has been having many intelligent and well-thought out discussions by the regular indexer naysayers and the occult crypto fanatics lately. I'm learning some good tidbits from the crypto veterans there.

        Anyways here's a good thread discussing your question re: high yield for stablecoins: https://www.bogleheads.org/forum/vie...?f=10&t=339625

        Comment


        • Originally posted by xraygoggles View Post

          Bogleheads has been having many intelligent and well-thought out discussions by the regular indexer naysayers and the occult crypto fanatics lately. I'm learning some good tidbits from the crypto veterans there.

          Anyways here's a good thread discussing your question re: high yield for stablecoins: https://www.bogleheads.org/forum/vie...?f=10&t=339625
          Okay I just made it through that thread. The vast majority have the same concerns as me.
          too good to be true.
          No free lunch If you cannot see the risk it is a scam because there is most certainly a risk.


          Not for me. Carry on.

          Comment


          • Originally posted by xraygoggles View Post

            Bogleheads has been having many intelligent and well-thought out discussions by the regular indexer naysayers and the occult crypto fanatics lately. I'm learning some good tidbits from the crypto veterans there.

            Anyways here's a good thread discussing your question re: high yield for stablecoins: https://www.bogleheads.org/forum/vie...?f=10&t=339625
            interesting that it mentioned Beam, which I know people on this forum (not on this thread, nothing to do with crypto) have mentioned in the past. Glad I never made it past their second round of waitlisting.
            Agree with Lordosis. Will sit this one out. You can all laugh at me from your yachts if its really not too good to be true.

            Comment


            • I’ll come back in a year and update folks on how it’s gone for me.

              I did my deep dive on BlockFI and came away very comfortable with the risk v return, compared to my feelings on present day risk v return in equities

              Comment


              • Gonna re-read this thread from start to end. On page 10. Gotta say I always love the gold bugs. Gold perplexes me. I imagine an apocalyptic image with some dude carrying bars of gold or wearing like 1000 gold necklaces. It just seems hilarious to me that as a society we haven't come up with a better store of value than gold. It's hilarious that in an end of the world, financial collapse situation, the metal we use to make jewelry is what people claim will have value. Obviously it has other uses but the jewelry angle seems to be #1. "Well Honey the world is ending but I can still get you this nice necklace."

                Comment


                • Originally posted by jacoavlu View Post
                  I’ll come back in a year and update folks on how it’s gone for me.

                  I did my deep dive on BlockFI and came away very comfortable with the risk v return, compared to my feelings on present day risk v return in equities
                  Unless I missed it above and you already answered these questions, does this mean you’re putting money into crypto? How much? Which one? What is your plan? You gonna FLP it and buy on RH or PayPal, or an exchange and hold in a cold wallet?

                  Comment


                  • Originally posted by abds View Post

                    Unless I missed it above and you already answered these questions, does this mean you’re putting money into crypto? How much? Which one? What is your plan? You gonna FLP it and buy on RH or PayPal, or an exchange and hold in a cold wallet?
                    If I could do it over (and I still may) I would transfer money to Blockfi and buy BTC on blockfi where you earn interest in btc.

                    Comment


                    • Originally posted by Panscan View Post
                      Gonna re-read this thread from start to end. On page 10. Gotta say I always love the gold bugs. Gold perplexes me. I imagine an apocalyptic image with some dude carrying bars of gold or wearing like 1000 gold necklaces. It just seems hilarious to me that as a society we haven't come up with a better store of value than gold. It's hilarious that in an end of the world, financial collapse situation, the metal we use to make jewelry is what people claim will have value. Obviously it has other uses but the jewelry angle seems to be #1. "Well Honey the world is ending but I can still get you this nice necklace."
                      I think people forget the apocalyptic part and skip right to post apocalyptic. In the build back of society gold would probably have a place if the financial system as we know it collapsed. But while the world is going to heck guns and ammo and food would be the only things of real value.

                      Comment


                      • Originally posted by Panscan View Post
                        Gonna re-read this thread from start to end. On page 10. Gotta say I always love the gold bugs. Gold perplexes me. I imagine an apocalyptic image with some dude carrying bars of gold or wearing like 1000 gold necklaces. It just seems hilarious to me that as a society we haven't come up with a better store of value than gold. It's hilarious that in an end of the world, financial collapse situation, the metal we use to make jewelry is what people claim will have value. Obviously it has other uses but the jewelry angle seems to be #1. "Well Honey the world is ending but I can still get you this nice necklace."
                        I hope you’re not re reading the thread hoping to learn something more about bitcoin. Because it’s not there

                        learning about “why gold” is actually very helpful in understanding bitcoin and understanding “money” in general

                        better off listening to this:


                        or go read anything by Robert Breedlove

                        Comment


                        • Originally posted by abds View Post

                          Unless I missed it above and you already answered these questions, does this mean you’re putting money into crypto? How much? Which one? What is your plan? You gonna FLP it and buy on RH or PayPal, or an exchange and hold in a cold wallet?
                          yes, enough, bitcoin, buy and hold, lol no

                          Comment


                          • Originally posted by fatlittlepig View Post

                            If I could do it over (and I still may) I would transfer money to Blockfi and buy BTC on blockfi where you earn interest in btc.
                            pay your idiot tax (literally) and do it

                            if you’re lump summing in you’ll pay less buying on kraken then transferring to BlockFI

                            Comment


                            • Originally posted by Lordosis View Post

                              Who are they loaning money to at a rate greater then 8-10%?
                              worth 40 minutes of your time. (listen at 1.5x)


                              Comment


                              • Originally posted by Radinomics View Post
                                Bump.

                                Bitcoin now stands at about 33% of its peak value 3 months ago. We're approaching a point where mining a coin costs the same as its value.

                                The currency of the future am I right?
                                Bump

                                It is 2/16/2021 and 1 BTC is worth $50,000

                                Sorry for the username change but

                                Donnie will be happy to know that I sold most of my BTC over the past 2 days. I will pay off the last of my student loans and the house in the coming weeks. The rest will be spread out among various savings/college/retirement/investment accounts and real estate. I have between 3-4 BTC left that I plan on riding up to $100k (per coin) or down to $0 (maybe Goldman will be right this time?). I really don't care at this point. I hit my goal and will be able to retire and become a ski bum the second my youngest kid leaves the house. I know its been a few years Donnie, but THIS is the post where I "pat myself on the back"...

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