This is beyond obtuse....why does it matter who the bag holders are? Because it’s crucial to the inequality narrative. Wealthy people getting more wealthy isn’t....egalitarian
Name another trillion dollar asset class that was open sourced, published months before it started operating, and was open to every person on the planet to purchase for years before institutional investors arrived. Who are the bag holders? What do you know about the tens/hundreds of millions of holders of btc? What countries are they in? Are they all wealthy? How much btc do they hold? Are the people in Nigeria using btc wealthy? Argentina? What do you know about the distribution of btc among holders? If you’re thinking that those are tough questions, turns out there’s actual data on stuff like that. Glassnode article on distribution: https://insights.glassnode.com/bitcoin-supply-distribution/ Your drive-by posting like you’ve studied this for years when you literally arrived months ago is uhhh questionable. “btc will make wealth inequality worse” is quite the blanket statement. But hey I’m sure you’ve spent lots of time reaching that conclusion.
You literally add nothing to this thread besides “lol” and “sighs” after my posts. You’ve been wrong about this topic for years. Might be worth trying to find out why.
If by “studying for years,” you mean listening to podcasts by guys with laser eyes, then hard pass. I have spent time studying economics, all markets are governed by power laws. Capital accrues more and more capital and if the redistribution entity (govt) is undermined, then yeah it’s not remotely a stretch to think BTC could accelerate inequality. Keep hiding behind Twitter posts
So September 18, 2020 you had 95% btc in your crypto portfolio. Sounds an awful lot like my own risk management/portfolio strategy. The price then was ~$10-11k. And you reduced your positions by 70%. Guess quite a bit has changed about your approach in the last few months.
You're right. No need to learn by reading books, articles, or listening to podcasts. It's hiding behind a twitter post because it has data on the point you raised?? Cool. Would you prefer that I do my own on-chain data research?
I like southside and think we generally agree on 90+% of this stuff. But maybe don't act like I have no risk management strategy because I DCA into 100% btc when just a few months ago his own crypto portfolio was 95% btc and he sold 70% of it at $11k due to some Keith McCullough indicator. If Cuban disliked btc or loved eth as much as he says he does, then his portfolio should look quite a bit different.
Hope you enjoyed spending your saturday digging for that. Yeah, and I bought back my full position between 12-14k. it's managing risk during inflection points. And yeah, quite a bit has changed like I have mentioned multiple times I run a dynamic portfolio. I'm up 5x vs. btc.
Sounds awesome and exhausting. Did you ever reply to PaulKemp when he was looking for indicators and what not? Seems like you do what he is interested in doing.
The search function is not exactly rocket science. Glad you bought back in. How has your portfolio performed taking into account taxes/fees/etc. versus simply buying and holding btc? And what's the current breakdown of the portfolio? Travis Kling's firm is about the only one I've seen (in limited research) that has outperformed btc by trading. Per a March email I got on it: We have outperformed BTC by 400% Gross (164% Net) since shifting to Programmatic Discretionary in September 2019. We are up +769% Gross (533% Net) with BTC up +369%.
As of today something like 20% btc 20% eth the rest in yield farming and alt positions. top 3 are knc, zrx, crv. i don't give a shit about taxes and fees, that 5x engulfs the tax burden even if biden raises it to 40%.
look at Jarvis labs bot performance. there's plenty of bots you can just buy into that massively outperform btc. you need six figs though to get into them. Eta: forgot about stackedinvest.com they have much lower minimum requirements
I haven’t looked into that much but have listened to some interviews by chance of guys who have built successful ones (like altcoinpsycho bot) Their main advice is just that eventually they lose some edge and you have to make adjustments. Also pick one with a style that fits you so you don’t get discouraged. Some just try for home runs and will miss on 70% but the 30% have massive outsized returns so you gotta stick with them I’m looking to hire some devs to build one for me but I don’t have the confidence just yet to sink the capital into it, need more time to prove out the process
Go for it because we’ve had that discussion about 10 times. Spend some time digging up posts about something I haven’t owned for years. Make sure to include the litecoin, xrp, vet, eth, and other random shit I owned!!
I’m sorry, 40% lumping in anyone with under 100 BTC. That’s 6 million in bitcoin or less... wtf does that prove about your point...
This one might be hard to comprehend, but btc didn’t always cost $60k/coin. So uhhhh you could have 100 btc that didn’t cost $6m to acquire. The glassnode article also has much more detail on distribution. Fact remains that btc is an open source asset class available to rich and poor alike that has gone up 200% per year for like a decade. Retail has been able to front run institutions for a decade in a trillion dollar asset. That’s literally never happened. Its an alternative option for any person to store wealth. Joe the plumber in Ohio could save a portion of his money in btc just as well as the hedge fund manager in New York. If that’s more unequal than the current system, then I’m not sure what point you’re trying to make.
so when it was $2000 poor Nigerians were buying 50 coins? Jesus man. And if it was egalitarian back when you had to be an idiot to buy it when it was worth like a dollar it no longer is that... I know this is an exaggeration but point remains
It’s no longer egalitarian to buy? What? Did you lose your internet connection and the ability to buy? I don’t know what point you think remains. The people in Nigeria buying are doing it while Tesla and microstrategy buy billions. Sounds kinda egalitarian to me.
An article analyzing the wealth inequality issue. And in audio format: https://podcasts.apple.com/us/podca...sodeGuid=8cc35061-c358-4626-bf7d-b8492acac8fb
Unfortunately you are a bit off here. Poco makes a phone in emerging markets that’s about $150 and is roughly equivalent to flagships from a few years ago. More than enough for crypto banking.
https://www.nasdaq.com/articles/how-halvings-will-bring-the-bitcoin-price-to-$400000-2021-04-11 Interesting paragraph from article: Let’s continue to look at MicroStrategy as an example. They hold over 90,000 bitcoin, currently worth north of $5 billion, with the company’s market cap being just over $6.75 billion. Should bitcoin reach a high of $400,000, it would value their bitcoin holdings over $36 billion and with BlackRock, Morgan Stanley and Vanguard owning over 30 percent of the company’s shares, they are likely to push them to sell as soon as possible and return value to shareholders. That’s over 90,000 bitcoin that could flood the market, the same could happen at many other public companies and threatens not just bitcoin’s price, but trust in it as a storage of value.
They wouldn’t push the company to liquidate all at once, would like sell on the way up to take profits and issue dividends to shareholders or productively deploy the capital.
I agree. It also drilled home something I was mentioning in the past that big banks may not have been buying BTC, but they were using MicroStrategy as a proxy to buy for them.
My $400 in SushiSwap on Friday is up to $432. Hoping it can get up to $460 so I can sell and get free dinner from profits.