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bitcoins

Visiting with my dad here and he just moved some money from his IRA into GBTC,ARKK, and ARKW.

From what I can read they are trusts that invest in crypto currencies or platforms.

But it also feels a little like sponsoring someone else’s checking account. Am I far off base?
 
Anyone who thinks that it is a good idea to "invest" in cryptocurrency with retirement funds should include in their planning activities the sampling
of dog foods now to find a flavor that agrees with them.
 
jt2 said:
Anyone who thinks that it is a good idea to "invest" in cryptocurrency with retirement funds should include in their planning activities the sampling
of dog foods now to find a flavor that agrees with them.
Click to expand...

Yeah, I agree with that. The guys who invested early are the guys who are going to win this bet. Or at least come out ahead.

Every purchase I have made was for 3-30 minutes duration.
 
jt2 said:
Anyone who thinks that it is a good idea to "invest" in cryptocurrency with retirement funds should include in their planning activities the sampling
of dog foods now to find a flavor that agrees with them.
Click to expand...

Why is that? There are many different stages of retirement savings? I feel that it is a very smart move to be a 20 something and have a portion of retirement riding on crypto.

Can you elaborate on your comment?
 
jt2 said:
Anyone who thinks that it is a good idea to "invest" in cryptocurrency with retirement funds should include in their planning activities the sampling
of dog foods now to find a flavor that agrees with them.
Click to expand...

I would disagree and say that it is smart for any investor to diversify their portfolio. I would base the percentage invested on my intended retirement date, more time more risk, less time less risk.
 
I’ve only started thinking about retirement after getting into this. I’ve been learning a lot too. So for me it’s a good thing. I’m still in the black on all my trades and positions.
 
TripleSeven said:
I’ve only started thinking about retirement after getting into this. I’ve been learning a lot too. So for me it’s a good thing. I’m still in the black on all my trades and positions.
Click to expand...
You're in the black on trades, but where are you in terms of money put in vs money actually out in a bank account?

If I was playing this game, I would take out my original investment once I doubled my money then continue on with my gains. That way I'd have nothing to lose if it all went to shit.
 
Climber said:
You're in the black on trades, but where are you in terms of money put in vs money actually out in a bank account?

If I was playing this game, I would take out my original investment once I doubled my money then continue on with my gains. That way I'd have nothing to lose if it all went to shit.
Click to expand...

you've got a good head on your shoulders, climber
 
Climber said:
You're in the black on trades, but where are you in terms of money put in vs money actually out in a bank account?

If I was playing this game, I would take out my original investment once I doubled my money then continue on with my gains. That way I'd have nothing to lose if it all went to shit.
Click to expand...

I’m up anywhere from 3-4 times my investment. ;) It fluctuates of course.
 
so what does everyone think of the coming B2X fork?

its supposed to happen sometime tomorrow at block 501451 (136 blocks from now). is it real? how does this kind of thing impact the original coin? any tips?

edit - further reading suggests the fork is probably a scam. but that hasn't stopped a bunch of ppl from pulling their coin from Coinbase into other exchanges that will supposedly support the fork.
 
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Entoptic said:
Why is that? There are many different stages of retirement savings? I feel that it is a very smart move to be a 20 something and have a portion of retirement riding on crypto.

Can you elaborate on your comment?
Click to expand...

There are definitely stages, and if you're in your 20s, you can (and probably should) move the slider to the higher risk end. But crypto isn't an investment at this point and it isn't even clear if it will ever be.

What it is is a huge speculative play, and absolutely a bubble. Neither of those is a part of a smart retirement investment plan.

If you want to gamble, have a ball. Just please don't let yourself fall into thinking that it is anything but that.

jiffy said:
I would disagree and say that it is smart for any investor to diversify their portfolio. I would base the percentage invested on my intended retirement date, more time more risk, less time less risk.
Click to expand...

All of those statements are true. They just don't apply to crypto.

Is it an asset? A currency? A collectible? All? Some? None? We don't know what the end state is. Even one or more of them becomes one of those things, it isn't even remotely clear which one of the cryptos will become a standard. And because of the low barrier to entry, IF any of those classes become true it is entirely possible that NONE of those that currently exist will become that standard.

Add that all up and this is a hugely speculative play in the long term, no different really than a casino bet. And because of that it has absolutely no place now (maybe never) in a retirement portfolio, regardless of your current place on the risk tolerance spectrum.
 
Blockchain is a technology/innovation that will be useful in certain markets. I can see it being very useful in the conveyance of land, and rare/expensive assets so as to prove provenance. As a medium of commerce, the drawbacks of crypto currency outweigh the benefits, when compared to a fiat currency like USD. It has no stability in value because there is no central bank regulating it's supply. As a simple asset class, I'm not sure why they are any better than gold. Gold at least has many thousands of years of history behind it. Gold will be around a lot longer than a bunch of digital bits that can easily be stolen by hackers or lost by equipment failure.
 
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mercurial said:
Blockchain is a technology/innovation that will be useful in certain markets. I can see it being very useful in the conveyance of land, and rare/expensive assets so as to prove provenance. As a medium of commerce, the drawbacks of crypto currency outweigh the benefits, when compared to a fiat currency like USD. It has no stability in value because there is no central bank regulating it's supply. As a simple asset class, I'm not sure why they are any better than gold. Gold at least has many thousands of years of history behind it. Gold will be around a lot longer than a bunch of digital bits that can easily be stolen by hackers or lost by equipment failure.
Click to expand...

This. The first thing that came to mind for me was real estate titles and how the industry would change. What a great way to track valuable possessions.

As a currency, it's a bust.
 
afm199 said:
As a currency, it's a bust.
Click to expand...

More than likely, at least in it's current form. Israel is looking at a national cryptocurrency. Others may follow.

You all didn't think that governments would cede control of money that easily, did you? :laughing

It does pain me to think about how many people are going to get fleeced before this is all over.
 
TripleSeven said:
I’ve only started thinking about retirement after getting into this. I’ve been learning a lot too. So for me it’s a good thing. I’m still in the black on all my trades and positions.
Click to expand...

then i would agree that it is a good thing for you.

i personally have made a 13% return on an ETF spelled SPY over time and I am good with that.


from what i calculate, if you have 50,000 XVG coins and you have made 4X your initial investment, you can't have possibly spent more than $2K USD combined, have you?

experience is the best instructor. i hope you do make a down payment on a home in a year.
 
jt2 said:
More than likely, at least in it's current form. Israel is looking at a national cryptocurrency. Others may follow.

You all didn't think that governments would cede control of money that easily, did you? :laughing

It does pain me to think about how many people are going to get fleeced before this is all over.
Click to expand...

Yeah, basically this. At some point regulation is going to come into effect, and when it does............
 
I wouldn't care about where crypto goes except you figure a huge percentage of bay area people are playing on it right now. And a lot of those people are techies. The last thing we need is even more greedy carpet baggers throwing lots of cash around, bidding up every piece of land around here, and generally driving up COL.

The boomtown aspect of the bay is getting very tiring. Every quick buck asshole on the planet seems to be converging here. The entire area is losing it's character and identity.
 
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