Bitcoin ETF's. Thoughts?

Comments

• Edmond

  November 15

  
  I have a healthy profit in FBTC, in the past 3 weeks. I trimmed positions earlier this week.
  
  IMO, bitcoin is not an 'investment'. Its a risk-on trading vehicle. There is no way I would hold this stuff if/when the markets turn risk-off.
  
  Other BTC etfs which generate income are BITO and MAXI. (not a recommendation, simply an FYI)
  
  
  
• hank

  November 15 edited November 15

  Yes. I think I own some Bitcoin through an etf “fund-of-etfs” (TRTY). It holds a couple momentum / trend following etfs - but those are a small part of its 16-17 etf stable. Best guess is bitcoin probably represents something like 0.05% of my portfolio. I’m “comfy” with that degree of exposure. I think a lot of markets have gone hyperbolic - and probably bitcoin among them. But I agree with Alan Greenspan who famously said it’s impossible to identify a bubble until after it has popped.
  
  Nothing against Bitcoin. Some pretty smart people own it. Not a big fan of Goldman. So I don’t put much stock in any calls they might make.
• majick

  November 15 edited November 15

  How's Bito ? Any opinions on it? Thanks.
• PopTart

  November 17

  Thanks for the comments!
• Crash

  November 18

  Well.
  Bitcoin and all cryptocurriencies are by definition subversive, unpatriotic. Undercutting the value of real, actual LEGAL TENDER. ---Charlie Munger. (R.I.P.)
  
  Where's the value? The product? The service provided? ---Warren Buffett.
• Edmond

  November 18

  Fiat currency and constant debasement is subversive and unpatriotic. When the organs of the state --- including the central bank operate with the explicit intent of constant erosion of legal tender, that is the reason BIT exists.
  
  If the state operated in a manner to ensure sound money, there would be no demand for crypto. We don't live in that world.
• Crash

  November 18

  Ostensibly, gov't central banks exist to maintain stability of the currency. Yes, central banks do prefer a bit of inflation, so that national debt can be repaid in "smaller" dollars or pounds sterling or whatever. And decision makers don't always get it right. That doesn't mean that we should forget about standards altogether.
• Observant1

  November 19 edited November 19

  I don't see a real need for bitcoin/cryptocurrency in most developed nations.
  Cryptocurrency is often used to obfuscate criminal activity or for speculation.
  If an "investor" wishes to speculate, they are free to do so but other speculative "investments" are available.
  Conversely, citizens of countries which have a history of hyperinflation (e.g., Argentina, Sudan, Zimbabawe) could really benefit from cryptocurrency usage.
• hank

  November 20 edited November 20

  Crash said:

  Ostensibly, gov't central banks exist to maintain stability of the currency. Yes, central banks do prefer a bit of inflation, so that national debt can be repaid in "smaller" dollars or pounds sterling or whatever. And decision makers don't always get it right. That doesn't mean that we should forget about standards altogether.

  I’ve never heard a home owner complain about when their home appreciates in nominal value. I suppose if it leads to higher property taxes, one might. But generally speaking we like it when the things we own go up in dollar value. And if you carry a mortgage on your home, your situation is a bit like that of the U.S. Treasury. Inflation allows you to repay your loan (ie pay for your home) in cheaper dollars. The issue isn’t all black, white or green which perhaps is what @Crash was inferring.
  
  
• Derf

  November 21

  I was going to start a new thread , but found this one & will add this link.
  
  https://finance.yahoo.com/news/fed-sell-70s-era-gold-212657357.html
  
  Good idea or not !?
  
  All replies appreciated.
• Crash

  November 21

  What might she have to gain? Repugnant Party...
• BenWP

  November 22

  A friend of mine tried to explain to me what bitcoin is, something along the lines of, « it’s just a currency. » He then told me he had made enough on his investment to buy his daughter a house. Then he said he hadn’t owned any bitcoin for some time. I guess he profited handsomely, making me envious, but unconvinced.
  
  I don’t understand all the science behind the tech companies my funds own, nor the medical advances that have led to investing profits for me, but I have faith that the science is sound and understandable to a reasonably intelligent person. I do not have the same faith in bitcoin nor in my intelligence to grasp why it’s a good investment. I side with those old timers and skeptics who have been persistent naysayers.
• Old_Joe

  November 22

  "I do not have [it] in my intelligence to grasp why it’s a good investment."
  
  I think that requires artificial intelligence.
• PRESSmUP

  November 22

  Tulip coins
• Crash

  November 22

  ya, hey?
• BenWP

  November 22

  @Old_Joe: good one! We’ll see if my tilt away from chips (SMHX) toward software (IVG) produces real or artificial gains. In the old days you could blame a real person (a broker) for suggesting a crappy stock; nowadays I can blame AI for my missteps. An artificial alibi seems to sneak more easily by my conscience than an honest appraisal of my follies.
• Old_Joe

  November 23

  @BenWP- Hell, for my whole life those who know me well have told me that my intelligence, if any, is artificial. My father used to say that if I had a brain I'd be dangerous.
• PopTart

  November 23

  Thanks again for the many comments, this board remains an excellent source of knowledge and opinions. I've yet to make up my mind about buying a few shares of IBIT but I'll continue to watch it for awhile.
  
  Happy Thanksgiving!