Bitcoin is still early

[Outdoors]

Otolith
I'd say that you only lose money if you sell. The best advice I've heard for Bitcoin is:

1) Invest for the long-term. Bitcoin's value proposition as an asset is that it's a long-term store of value, a digital form of gold. So it should be bought and HODL'd for the long-term, like 5+ years.

2) Only invest what you can afford to completely lose. I think it's unlikely, but there's a black swan risk with any investment, including Bitcoin. Just like any other high-risk investment, it could completely go to zero (although again, I think that's unlikely in the next few years).

[Brains428]

Um- AFAIK, I'm the only one in my group (of 17) who is into it. But I'm the youngest in the group and we are in smallish town midwest. Don't know if that changes the expectation.

[NapoleanDynamite]

Here is and exact quote from Anthony Pompliano today from his Twitter account. For those of you who don't know, he is one of the biggest Bitcoiners/bitcoin advocates there is.
This was the tweet:

The Secret to building weath:
1. Spend less than you make
2. Get out of debt
3. Save 3-6 months of cash
4. Invest, Invest, Invest
5. Sit back and wait

Does it look familiar? I am still completely amazed that so many indexers/bogleheads don't understand bitcoin and still think it is "speculative gamble". The principles of hard core Bitcoiners and hard core Bogleheads overlap in so many ways it is amazing. The device to achieve said wealth is the biggest difference.

[Panscan]

I don’t understand that’s what pretty much everyone says . Why is that bullish for btc

[NapoleanDynamite]

I don’t understand that’s what pretty much everyone says . Why is that bullish for btc

It's not bullish for BTC. It was not meant to be.

I am simply pointing out that Bogleheads as a whole tend to think that Bitcoiners are all "speculative gambling bros" and that Bitcoiners tend to think that Bogleheads are just "Boomers" living in the past. In fact the principles between the two are almost identical. Work hard, Spend less, Invest, HODL.

Despite this Bogleheads can't seem to figure out why Bitcoin will succeed and how similar their methods of investing are...meanwhile Bitcoiners can't seem to see why index fund investing is still a great method to reach one's goals.

Why not both?

[jacoavlu]

There has been chatter on twitter about BlockFi having liquidity issues during the recent tech sell off and subsequent GBTC negative premium. Apparently BlockFI's business model was to swap bitcoins for GBTC shares at NAV (with 6 month lockup) and then sell GBTC shares at premium on the secondary market. The loss of the premium could be dangerous for them. They've shut down new account signups but they're denying that it has anything to do with GBTC at this point.

I'm not sure if the above is true but I smell smoke.

as expected it seems the “chatter” was a bunch of FUD

https://www.forbes.com/sites/ninabambysheva/2021/03/09/crypto-rising-star-blockfi-combats-vulgar-and-racist-spam-attack/

[docnews]

I've read the recent few pages and most focus on BTC and ETH. If you are a BTC maximalist that makes sense to me because first mover advantage has created a tested network that will always be more mature and therefore arguably more secure than the other crypto networks. But if you include ETH for arguably more adaptability/usability, I think you should include ADA and DOT in your discussion. These 2 alts were built from ETH co-founders who thought ETH wasn't moving to proof of stake fast enough. ETH in a way has admitted they are right as it begins a complicated shift from proof of work to proof of stake. Thoughts?

[jacoavlu]

Thoughts?

I think ETH and associated discussion deserves it's own thread for those interested

[docnews]

I think ETH and associated discussion deserves it's own thread for those interested

I thought the reason this was so long is wci just held crypto to 1 topic since its deemed purely speculative. WCI has some valid points. I'm normally risk averse but always remember the first index was considered Bogle's folly.

[Panscan]

they said its ok to have a separate eth/altcoins thread. there is one but its tiny

[xraygoggles]

No, I created one and it was merged with this one. No separate thread for ether...

[jacoavlu]

No, I created one and it was merged with this one. No separate thread for ether...

start a new one again

[Peds]

No, I created one and it was merged with this one. No separate thread for ether...

https://forum.whitecoatinvestor.com/general-investing/259835-altcoins-defi-thread

did you want to continue this thought or new one?

[docnews]

I believe crypto has value but dang $60k BTC seems bubbly! I'm only a half decade into my career and I'm primarily a stock indexer so my few percent to crypto has become substantial! Anyone rebalancing? My handful of BTC is currently about 20% my net worth.

[Brains428]

Assuming it follows the 4 year cycle, BTC isn't that frothy. All that said, if it's back down to 45k by Monday, I wouldn't be surprised