Discuss Latest WCI Blog Post: Top 7 Uses for Bitcoin

[The White Coat Investor]

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!

[G]

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).

[WCInovice]

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

[CordMcNally]

Many of the points could be said for the US dollar.

[Lordosis]

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.

[burritos]

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".

[WCInovice]

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

[G]

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.

[WCInovice]

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.

[Lordosis]

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?

[WCInovice]

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.

[Larry Ragman]

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.