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Investment Thread - For all your money needs

so many people here should be invested in a technolibertarian pyramid scheme? what?
 
DeacMan said:
What do you mean what does it mean? Again, how can someone with your views not allocate some of their investment capital to BTC? Seems like a complete no brainer.
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Why would someone who thinks crypto is a scam invest in bitcoin? You make no sense.
 
Seems fair to wonder what “views” attributed to Ph would seem to make it an obvious assumption he’d have money in crypto?

I’m not here to shit on anyone throwing a small/tiny percentage of their investments into risky speculative assets if they want to. But see no reason to assume everyone would be so inclined.
 
DeacMan said:
What do you mean what does it mean? Again, how can someone with your views not allocate some of their investment capital to BTC? Seems like a complete no brainer.
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What do you mean what do you mean what does it mean?
 
I think he is a true believer in the bullshit BTC is selling so if you were to you would embrace the power of decentralization blah blah blah but everyone else here knows it’s a shitty pyramid scheme hence the confusion.
 
Louis Gossett Jr said:
I think he is a true believer in the bullshit BTC is selling so if you were to you would embrace the power of decentralization blah blah blah but everyone else here knows it’s a shitty pyramid scheme hence the confusion.
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In what regard is BTC a pyramid scheme? Elaborate. It doesn't compensate anyone. No one even runs it.

I'm not a true believer in it vs. I am any other asset class. It's just part of a diversified portfolio IMO. Nothing more.

As for folks like Ph, I really do not understand how someone who feels so strongly about how awful the traditional financial system is would look at BTC and say "of course not".
 
I guess it diversifies a portfolio in the same way lottery tickets or beanie babies would, but that doesn’t mean it’s a good idea.

Similarly just because “folks like ph” have criticism of the financial system doesn’t mean any and every alternative must look good to them.
 
Personally I’m still waiting for baseball cards to come back and to a lesser extent Pure Poison POGS but I think the delta in my bourbon collection more than makes up for those slower growth asset classes.
 
I did not suggest any and every alternative must look good to Ph or anyone else. Not sure how you compare BTC to a beanie baby or a lottery ticket. All investments come with risk.

Why would you not allocate some of your capital to an investment that has delivered an asymmetric return since its inception 15 years ago? And I'm not suggesting you'd have no legit reason not to do so.

On the grounds you think it is a scam? OK. How is it a scam? Explain.

On the grounds you think it is too speculative? OK. That is acceptable given you may have zero tolerance for volatility in any portion of your portfolio or have super low risk tolerance.

But Ph is someone who literally says things that suggest he believes the entire monetary system is rigged with rules that are altered and manipulated to favor those in power. So here's an asset with attributes that are both very clearly defined and that cannot be altered. It's one fatal risk is if the entire internet were to collapse (which suggests we'd all have much bigger problems). Anyone on earth is free to buy it and hold it. And that's something he says "of course not" to just allocating some of his portfolio to? It's his money. I'm just surprised that would be his reaction to it.
 
06deacon said:
Personally I’m still waiting for baseball cards to come back and to a lesser extent Pure Poison POGS but I think the delta in my bourbon collection more than makes up for those slower growth asset classes.
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Was at a convention in Chicago recently. A company held a dinner at a basement restaurant in River North. I have never in my life seen so many bourbon's in one place. Almost 500 brands. Were told the total inventory in the bar was three million dollars. It was insane.
 
DeacMan said:
In what regard is BTC a pyramid scheme? Elaborate. It doesn't compensate anyone. No one even runs it.

I'm not a true believer in it vs. I am any other asset class. It's just part of a diversified portfolio IMO. Nothing more.

As for folks like Ph, I really do not understand how someone who feels so strongly about how awful the traditional financial system is would look at BTC and say "of course not".
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Whoever is running tether runs pretty much the entire crypto ecosystem. And all the guys who run Tether are the guys who ran online poker two decades ago when online poker had people who could see everyone's whole cards and were ripping them off. They largely created bitcoin to get around the US banning banks from transacting with online poker sites.

Being diversified into fraud generally doesn't help, although plenty of people do happen to make money in frauds.
 
DeacMan said:
I did not suggest any and every alternative must look good to Ph or anyone else. Not sure how you compare BTC to a beanie baby or a lottery ticket. All investments come with risk.

Why would you not allocate some of your capital to an investment that has delivered an asymmetric return since its inception 15 years ago? And I'm not suggesting you'd have no legit reason not to do so.

On the grounds you think it is a scam? OK. How is it a scam? Explain.

On the grounds you think it is too speculative? OK. That is acceptable given you may have zero tolerance for volatility in any portion of your portfolio or have super low risk tolerance.
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for someone with zero bias for bitcoin as an investment you have presented some very generous characterizations of folks who do not view it as such.
 
dartsndeacs said:
Whoever is running tether runs pretty much the entire crypto ecosystem. And all the guys who run Tether are the guys who ran online poker two decades ago when online poker had people who could see everyone's whole cards and were ripping them off. They largely created bitcoin to get around the US banning banks from transacting with online poker sites.

Being diversified into fraud generally doesn't help, although plenty of people do happen to make money in frauds.
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Tether does not make BTC a scam. But yes, I agree crypto as a whole would very much benefit from stable coin regulation like New York has put in place for USDC and Europe is now putting in place more broadly. No argument there.
 
06deacon said:
for someone with zero bias for bitcoin as an investment you have presented some very generous characterizations of folks who do not view it as such.
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I never sad I have zero bias for bitcoin. I already said I hold some as a small part of my overall portfolio. And I've explained why. What I'm asking is how folks who think the entire financial system is rigged would not find BTC appealing as a part of their own portfolio. And so far the only answer I've received is BTC is scam. Again, how is BTC, itself, a scam? How it works is clearly defined and it isn't changeable. That seems to me like something that would be appealing for an allocation to those who think everything else is rigged.
 
DeacMan said:
Tether does not make BTC a scam. But yes, I agree crypto as a whole would very much benefit from stable coin regulation like New York has put in place for USDC and Europe is now putting in place more broadly. No argument there.
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Tether makes the price of BTC a scam, as BTC goes brrr when tether folks print tethers out of thin air.
 
I didn’t say it was a scam, although the “brokerages” certainly seem to be. I don’t think the financial system is rigged or whatever either, and i doubt ph or “folks” think it’s rigged in such a way that bitcoin would be particularly appealing to them.

I understand the underlying technology, what doesn’t necessarily follow is why a bitcoin is worth $X vs $Y. It looks like a meme stock. Great if you got in on the ground floor, it turned out well for you then. Like GameStop. Doesn’t mean it’s destined to fall off a cliff but what reason is there to believe it’ll grow?

That’s just my opinion as an apparently zero risk tolerant investor (lol). Also I don’t hold any gold so let me stop you right there.
 
dartsndeacs said:
Tether makes the price of BTC a scam, as BTC goes brrr when tether folks print tethers out of thin air.
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Tether is/has been subjected to audits. But my fundamental issue with Tether is that the one for one dollar backing is tied in some significant part to commercial paper, which obviously is more risky than USDC's approach. Still arguably better than the fractional reserve system we have for banking and the entire Eurodollar regime globally. But yes, it is a risk (and a concentrated one).

But that risk does not make BTC, itself, a scam. BTC has set rules that don't change. If anything BTC has endured a shit ton of bad news and bad actors in the space more broadly (Tether FUD, FTX, Luna, Celcius, etc.) to be sitting at 6x where it was in the wake of Covid. Just the impact of network growth in terms of global users IMO.

No argument from me the space needs regulation. And the EU has already moved on it, which is good.
 
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