What’s your Crypto Exit/Investment strategy?

[landlord]

If I spent as much time on AAM / Boards, I would not be able to function in my day job

Seriously lads Winston Churchill phoned me last night and told me....

Never before in the field of askaboutmoney.com were so many Bitcoin threads posted by so few!!!

 

[TheBigShort]

Would you remortgage your home to buy €200k worth of Bitcoin?

No

Why not?

That's effectively what you're doing by investing in Bitcoin while carrying mortgage debt.

investing while carrying debt is leveraged investing.

don't fool yourself into thinking that investing while carrying mortgage debt is somehow different to remortgaging a property to make those investments.

Would you remortgage your home to buy a €25 prize bond?

Nobody in their right mind would ever consider buying €25 prize bond to be a re-mortgage of the home. Until now, that is;

Absolutely correct.

I regularly advise people to max out their tax advantaged pension contributions before paying down mortgage debt ahead of schedule. I think that's appropriate financial planning but I don't fool myself into thinking that I'm not therefore advising people to make leveraged investments.

So you would advise others to make leveraged investments, just not Joe and Mary - how convenient.

Investing while carrying a mortgage on a property is exactly the same thing as remortgaging that property for the purposes of making the same investment.

What is dramatic about the word remortgage?

It just means taking out a new mortgage on a property that is already or was previously mortgaged.

And thats all it means, and nothing else. If I buy a €5 lotto ticket whilst carrying mortgage debt im not re-mortgaging!!
If I buy €5 bitcoin im not re-mortgaging my home unless I borrow the money against a property.

However, I would (and do) argue that it makes sense to contribute to a pension before your mortgage is paid off. Why? Because I take the view that investing money in equities, etc. in a tax-advantaged vehicle has a higher expected return than paying off my "negative bond".

But should you be advising this while people are carrying mortgage debt?

nobody ever suggested that you re-mortgaged your home when you bought Bitcoin.

[/QUOTE]

 

[TheBigShort]

Thats me done with topic.

If Brendan wishes he can delete my last post if it provokes a reaction from Sacreno.

 

[joe sod]

It would be disengenuous of me to take such credit. The 'fast' event was for 24hrs. But due to logistics (family commiitments etc) the event was broken into shifts. I put in ten hours, some of the younger ones were more dedicated.

i think I know what type of person you are (probably good fun ) but likes to be seen as virtuous hence the fast, also the personality that would latch onto something like bitcoin. I on the other hand not really virtuous ,would not have done the fast unless it was some cause that personally affected me, (probably not good fun) and not a bitcoin investor. I think there is definitely a personality trait that goes for something like bitcoin

 

[Sarenco]

If I buy €5 bitcoin im not re-mortgaging my home unless I borrow the money against a property.

Nobody said otherwise BS.

I've already pointed that out to you repeatedly while repeating the very simple point that you don't seem to be able to understand.

It's boing at this stage.

 

[Duke of Marmalade]

There does appear to be an association though.
Investors that are comfortable within the technology sector like James Altucher are bullish on bitcoin.
While investors that appear to be total technophobes stay clear.

It is rumored that Warren Buffett does not even have a cell phone.

I looked up this Altucher guy. The more I research these BTC supporters the more I am convinced that the mainstream economic thinkers are not all wrong - bitcoin is a nonsense. Altucher detects some mega historic process - theism to humanism to dataism. Givus a break

He sees the main virtue of BTC is that it is volatile. Sorry, but if BTC is to become a mainstream currency it had better shed its volatility. And then in that classic pose at being objective it concedes that the vast majority of cryptos are scams, but not BTC.

Then I see the reaction to his post, all adulatory praise. How long will this insanity last?

 

[jman0war]

Alan Greenspan gave his opinion. He liked bitcoin to Continental Currency of 1775:

“I would use the analogy of Continental currency. Continental currency in 1775 was issued with no backing, and it sold at par in the marketplace for quite a while until they started to build up more and more printing of continentals,” explains Greenspan on the news broadcast."

A bizarre comparison since bitcoin's issuance is capped by it's programmatic code.
Who advises this guy?
(does he know how to work a cell phone?)

 

[Brendan Burgess]

A bizarre comparison since bitcoin's issuance is capped by it's programmatic code.

Correct. And as we all know, Bitcoin has a monopoly on cryptocurrencies. No one else is allowed to create a new one in case it increases the supply.

Brendan

 

[Firefly]

Seriously lads Winston Churchill phoned me last night and told me....

Never before in the field of askaboutmoney.com were so many Bitcoin threads posted by so few!!!

We have:

• Respected financial advisors declaring Bitcoin useless
• A socialist investing in the most libertarian financial experiment I can think of
• The likes of me who freely admits to not understanding the workings of block-chain but is sceptical all the same.
• And a bunch of fanbois who can't get enough of the stuff

Sure isn't it great?

 

[Duke of Marmalade]

Correct. And as we all know, Bitcoin has a monopoly on cryptocurrencies. No one else is allowed to create a new one in case it increases the supply.

Brendan

And now we learn that Bitcoin herself is like a mother spider, capable of breeding clones all with their own "limited" supply varying so far from 21M to 84M each.

The Bitcoin family now includes:
Cash
Gold
Diamond
United
X (?? somewhat lacking in imagination)
Super

I wonder does Satoshi's humour extend to launching Bitcoin Tulip

 

[Brendan Burgess]

Bitcoin Tulip

Copyright that one quickly.

I see the .com web address is already gone.

Brendan

 

[BreadKettle]

It's not surprising to see people that haven't a clue about Bitcoin.

What is slightly surprising, is people that haven't a clue about Bitcoin talking about it as if they do, and cheering each other on.

Hey lads, look at what Google has gone and done - www.yahoo.com - sure it's like a mother spider?! Those silly shareholders in google, don't they get that the amount of shares has changed now?

What do you mean yahoo isn't google - you tulip obsessed blind fool!

Various good or bad separate chains should not have any real impact on BTC. It is annoying that anyone can hi-jack a name, but it's not a company with a registered trademark so what are you gonna do. You could understand this of course, or not..

 

[jman0war]

And now we learn that Bitcoin herself is like a mother spider, capable of breeding clones all with their own "limited" supply varying so far from 21M to 84M each.

The Bitcoin family now includes:
Cash
Gold
Diamond
United
X (?? somewhat lacking in imagination)
Super

Bitcoin is an open source project, so yes people can copy and paste the code, make their own tweaks and call it whatever they want.
In this case they are doing that and bootstrapping their project by 1) retaining the name / brand recognition 2) leveraging all the previous developer work so they don't have to start coding from scratch 3) pitching to an existing market of investors.

It doesn't change that bitcoin is bitcoin.
The rules that make bitcoin bitcoin, are determined by the participants, the nodes that validate transactions and miners that create blocks.
It isn't possible to include a Bitcoin Gold transaction inside a Bitcoin (BTC) block.