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Discuss Latest WCI Blog Post: Top 7 Uses for Bitcoin

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  • Discuss Latest WCI Blog Post: Top 7 Uses for Bitcoin

    Offering an honest reality check on what bitcoin is and isn't useful for and why people actually own this cryptocurrency.

    The post Top 7 Uses for Bitcoin appeared first on The White Coat Investor - Investing & Personal Finance for Doctors.



    Click here to view the article!
    Helping those who wear the white coat get a fair shake on Wall Street since 2011

  • #2
    I love the comments so far. Let me summarize: you are not telling people to buy bitcoin while smart folks who understand it are buying, so you are clearly a biased idiot.

    Interesting idea about the katana. I have an antique sword that I guess could substitute, but I generally recommend a tomahawk.

    I enjoyed this article. I wanted to buy BTC to speculate but couldn't get coinbase to work at the time...too bad, I would have had a paper gain of 23k (who knows if I would have sold today).

    Comment


    • #3
      Right now I use bitcoin as a hedge. It's a very small % of my portfolio.

      I am very much looking forward to this book, as I hope he addresses bitcoin within it:


      Safe Haven: Investing for Financial Storms Hardcover – October 12, 2021


      by Mark Spitznagel (Author)

      https://www.amazon.com/Safe-Haven-In.../dp/1119401798

      Comment


      • #4
        Many of the points could be said for the US dollar.

        Comment


        • #5
          Originally posted by WCInovice View Post
          Right now I use bitcoin as a hedge. It's a very small % of my portfolio.

          I am very much looking forward to this book, as I hope he addresses bitcoin within it:


          Safe Haven: Investing for Financial Storms Hardcover – October 12, 2021


          by Mark Spitznagel (Author)

          https://www.amazon.com/Safe-Haven-In.../dp/1119401798
          A hedge against what?

          That is what a lot of people say when they put money into alternatives.

          Comment


          • #6
            Originally posted by CordMcNally View Post
            Many of the points could be said for the US dollar.
            Funny. It'd be uncouth to say "My bank account has x dollars", but you can kind of get away with saying I have "X tesla shares or X bitcoins".

            Comment


            • #7
              Originally posted by Lordosis View Post

              A hedge against what?

              That is what a lot of people say when they put money into alternatives.
              Index funds, inflation, money printer going off, black swans, things we can't even think of.

              I'm like 95% WCI/Jack Bogle all in....but I read a few Taleb books and started thinking..."what if......"

              https://twitter.com/nntaleb/status/1...258560?lang=en

              Comment


              • #8
                Originally posted by WCInovice View Post

                Index funds, inflation, money printer going off, black swans, things we can't even think of.

                I'm like 95% WCI/Jack Bogle all in....but I read a few Taleb books and started thinking..."what if......"

                https://twitter.com/nntaleb/status/1...258560?lang=en
                I suffer through his holier-than-though writing for nuggets of usefulness. My professional skillset, avocational hobbies, and a supply of food and water is my cover for a black swan. I have always tried to come up with ways for my investing to be anti-fragile, but I can never figure it out aside from what I just mentioned.

                Fun to consider.

                Comment


                • #9
                  Originally posted by G View Post

                  I suffer through his holier-than-though writing for nuggets of usefulness. My professional skillset, avocational hobbies, and a supply of food and water is my cover for a black swan. I have always tried to come up with ways for my investing to be anti-fragile, but I can never figure it out aside from what I just mentioned.

                  Fun to consider.
                  You sound like me.

                  Outside of getting into Universa, it's hard to know how to integrate some of his thoughts into just a regular joe portfolio. That's why I'm hoping Spitznagel's book might shed some light.

                  Comment


                  • #10
                    Originally posted by WCInovice View Post

                    Index funds, inflation, money printer going off, black swans, things we can't even think of.

                    I'm like 95% WCI/Jack Bogle all in....but I read a few Taleb books and started thinking..."what if......"

                    https://twitter.com/nntaleb/status/1...258560?lang=en
                    So a hedge against everything.

                    Is Bitcoin a good hedge for those things?

                    Are there other investments that would be better? RE, Gold, etc?

                    Comment


                    • #11
                      Originally posted by Lordosis View Post

                      So a hedge against everything.

                      Is Bitcoin a good hedge for those things?

                      Are there other investments that would be better? RE, Gold, etc?
                      I don’t know. I’m still learning. There are way smarter people than me on all this.

                      Im mostly VTSAX, some private equity real estate, and small bitcoin.

                      I think my returns would be best with just VTSAX. I like to tell myself some diversification helps though.



                      I do know a lot of people I find very smart (and were early/correct on COVID), think there is a role for bitcoin moving forward. Naval, Balajis, Taleb, et al. If you separate the fan boys from the thought leaders I think there’s substance there.

                      Comment


                      • #12
                        Originally posted by WCInovice View Post

                        I don’t know. I’m still learning. There are way smarter people than me on all this.

                        Im mostly VTSAX, some private equity real estate, and small bitcoin.

                        I think my returns would be best with just VTSAX. I like to tell myself some diversification helps though.



                        I do know a lot of people I find very smart (and were early/correct on COVID), think there is a role for bitcoin moving forward. Naval, Balajis, Taleb, et al. If you separate the fan boys from the thought leaders I think there’s substance there.
                        Sounds to me like your Bitcoin position is more of a small percentage speculation. But regardless, it is not a hedge in a literal sense that it goes up or holds value when stocks or other traditional investments crash. It is fine to keep a small amount in alternative investments, including Bitcoin. It’s fun. Just don’t kid yourself.

                        Comment

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