So you're on the right track.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 10:35 amI’m 99% in VTSAX. I’m a boglehead at heart. Bitcoin is something fun, nothing more.bertilak wrote: ↑Thu Jan 16, 2020 10:25 am If you are a speculator, Bitcoin might be worth considering.
But speculation is not investing. I can see how it might be fun and exciting to be a speculator but I am an investor and not a speculator so I own NO Bitcoin.
If I were to become a speculator I would speculate in something I found interesting enough to study to the point of becoming an expert (not a dabbler) and therefore, potentially, a success. It seems you (the OP) are quite interested in Bitcoin, but it looks like you haven't put in enough time and effort to become an expert. This is a recipe for disaster. Perhaps you can start very small just to learn the ropes of how it is done. Consider your almost inevitable losses your tuition. How much tuition are you willing to pay?
Who’s Buying Bitcoin?
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Re: Who’s Buying Bitcoin?
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Re: Who’s Buying Bitcoin?
I don't own any crypto but I think bitcoin in particular looks like it is having some problems with scale and privacy issues. I look at crypto as another technology sector where there is continual innovation. I just can't believe that the first iteration of cryptocurrency will continue on in perpetuity when it seems relatively easy start a new one.
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek, The Fatal Conceit
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Re: Who’s Buying Bitcoin?
Yup, just maxed out both Roths with VTSAX for 2019 and 2020! After selling our business, our investing journey has begun finally. Last five years I just reinvested profits into the business.bertilak wrote: ↑Thu Jan 16, 2020 10:51 amSo you're on the right track.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 10:35 amI’m 99% in VTSAX. I’m a boglehead at heart. Bitcoin is something fun, nothing more.bertilak wrote: ↑Thu Jan 16, 2020 10:25 am If you are a speculator, Bitcoin might be worth considering.
But speculation is not investing. I can see how it might be fun and exciting to be a speculator but I am an investor and not a speculator so I own NO Bitcoin.
If I were to become a speculator I would speculate in something I found interesting enough to study to the point of becoming an expert (not a dabbler) and therefore, potentially, a success. It seems you (the OP) are quite interested in Bitcoin, but it looks like you haven't put in enough time and effort to become an expert. This is a recipe for disaster. Perhaps you can start very small just to learn the ropes of how it is done. Consider your almost inevitable losses your tuition. How much tuition are you willing to pay?
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Re: Who’s Buying Bitcoin?
There are over 5,000 such currencies. Picking winners in that market is like choosing a stock in the tech bubble. As there was $4.3B in fraud in 2019 out of a total market cap of $250B-$350B, you probably have a better chance of being cheated than in picking a long term winner, especially if you stray from bitcoin.
https://coinmarketcap.com/
https://coinmarketcap.com/
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Re: Who’s Buying Bitcoin?
Just pumped another 25k into vtsax! North American trade deal was just signed. The market is going to roar.
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Re: Who’s Buying Bitcoin?
To me, the puzzle from the very beginning with bitcoin was why it was not designed to keep a stable value. That seemed totally at odds with any notion of being a currency. It seemed intentionally designed to transfer value from late adopters to early adopters.
Many swindles have some components in common. There is a plausible cover story as to why it could be true, to numb our natural disbelief. There are testimonials showing that it has made some people rich, to lure us into participating.
In the original Ponzi scheme, the plausible cover story was "arbitraging international postal reply coupons." This was legitimate, it really could work--for tiny amounts of money with great amounts of effort. The lure was the many early "investors" who did double their money in ninety days as promised as the lure.
With bitcoin, the covers story is "it's a currency," or the currency of the future, or what have you. And the lure is that, rather than maintaining a stable value, it makes some people rich.
The stated goals for bitcoin are on record in Satoshi Nakamura's paper. Among them is that it be more useful for "small casual transactions" than credit cards, PayPal, etc. Another is the elimination of the need for financial institutions and a "trust based model," because of the claimed high cost of providing reversible transactions (i.e. the high cost of making it possible to dispute a bill).
The words "stable" and "stability" do not appear in the paper.
Many swindles have some components in common. There is a plausible cover story as to why it could be true, to numb our natural disbelief. There are testimonials showing that it has made some people rich, to lure us into participating.
In the original Ponzi scheme, the plausible cover story was "arbitraging international postal reply coupons." This was legitimate, it really could work--for tiny amounts of money with great amounts of effort. The lure was the many early "investors" who did double their money in ninety days as promised as the lure.
With bitcoin, the covers story is "it's a currency," or the currency of the future, or what have you. And the lure is that, rather than maintaining a stable value, it makes some people rich.
The stated goals for bitcoin are on record in Satoshi Nakamura's paper. Among them is that it be more useful for "small casual transactions" than credit cards, PayPal, etc. Another is the elimination of the need for financial institutions and a "trust based model," because of the claimed high cost of providing reversible transactions (i.e. the high cost of making it possible to dispute a bill).
The words "stable" and "stability" do not appear in the paper.
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Re: Who’s Buying Bitcoin?
True, it's pure speculation not investment.Nate79 wrote: ↑Wed Jan 15, 2020 5:26 pmAgreed. Bitcoin is the anti boglehead investment.retired@50 wrote: ↑Wed Jan 15, 2020 5:15 pmBogleheads use 0.00% for Bitcoin allocation.Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 3:52 pm I’m just wondering what allocation a boglehead would use.
Regards,
Have a plan, stay the course and simplify. Then ignore the noise!
Re: Who’s Buying Bitcoin?
US dollars are going to rise in value relative to cryptocurrencies. I'm sure enough of this that I've used my entire cryptocurrency allocation to buy dollars.Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 3:16 pm I’m about to pull trigger and buy bitcoin, ethereum, and some Litecoin tomorrow. Who else is investing in these? What % allocation are you going with?
Re: Who’s Buying Bitcoin?
I have a small allocation to cryptocurrency. I decided to buy the top 5 cryptocurrencies by market weight, which requires fairly little rebalancing. I originally tried to own the top 20, but cryptocurrencies moved in and out of the index too often and I couldn't keep up. I exclude Tether, as this is attempting to peg the value at $1 USD, and I can just hold USD instead.
The top 5 cryptocurrencies accounts for approximately 84% of the market capitalization as listed on https://coinmarketcap.com/.
I hold the smallest allocations and some amount of Bitcoin/Ethereum on Coinbase for rebalancing. I rebalance if the entire portfolio is off by 5% or greater.
The top 5 cryptocurrencies accounts for approximately 84% of the market capitalization as listed on https://coinmarketcap.com/.
I hold the smallest allocations and some amount of Bitcoin/Ethereum on Coinbase for rebalancing. I rebalance if the entire portfolio is off by 5% or greater.
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Re: Who’s Buying Bitcoin?
I’m just doing bitcoin and ethereum for now. 80/20 allocation.redstar wrote: ↑Thu Jan 16, 2020 12:04 pm I have a small allocation to cryptocurrency. I decided to buy the top 5 cryptocurrencies by market weight, which requires fairly little rebalancing. I originally tried to own the top 20, but cryptocurrencies moved in and out of the index too often and I couldn't keep up. I exclude Tether, as this is attempting to peg the value at $1 USD, and I can just hold USD instead.
The top 5 cryptocurrencies accounts for approximately 84% of the market capitalization as listed on https://coinmarketcap.com/.
I hold the smallest allocations and some amount of Bitcoin/Ethereum on Coinbase for rebalancing. I rebalance if the entire portfolio is off by 5% or greater.
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Re: Who’s Buying Bitcoin?
Bitcoin? Don't walk. Run!
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Re: Who’s Buying Bitcoin?
Seriously?
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Re: Who’s Buying Bitcoin?
I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
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Re: Who’s Buying Bitcoin?
Apparently coinstar already hands out BTC in exchange for your coins, so we're half way there.abuss368 wrote: ↑Thu Jan 16, 2020 12:11 pmSeriously?
Re: Who’s Buying Bitcoin?
You can already post an ad on https://localbitcoins.com/ offering gold for Bitcoins.
Re: Who’s Buying Bitcoin?
Interesting. When did you buy a coffee with bitcoin?Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
Re: Who’s Buying Bitcoin?
John C. Bogle: “Avoid Bitcoin like the plague. Did I make myself clear?”
Re: Who’s Buying Bitcoin?
Everyone should read the original white paper by Satoshi Nakamoto before even considering investing in Bitcoin. After that I would recommend Saifedean Ammous' The Bitcoin Standard.nisiprius wrote: ↑Thu Jan 16, 2020 11:44 am To me, the puzzle from the very beginning with bitcoin was why it was not designed to keep a stable value. That seemed totally at odds with any notion of being a currency. It seemed intentionally designed to transfer value from late adopters to early adopters.
Many swindles have some components in common. There is a plausible cover story as to why it could be true, to numb our natural disbelief. There are testimonials showing that it has made some people rich, to lure us into participating.
In the original Ponzi scheme, the plausible cover story was "arbitraging international postal reply coupons." This was legitimate, it really could work--for tiny amounts of money with great amounts of effort. The lure was the many early "investors" who did double their money in ninety days as promised as the lure.
With bitcoin, the covers story is "it's a currency," or the currency of the future, or what have you. And the lure is that, rather than maintaining a stable value, it makes some people rich.
The stated goals for bitcoin are on record in Satoshi Nakamura's paper. Among them is that it be more useful for "small casual transactions" than credit cards, PayPal, etc. Another is the elimination of the need for financial institutions and a "trust based model," because of the claimed high cost of providing reversible transactions (i.e. the high cost of making it possible to dispute a bill).
The words "stable" and "stability" do not appear in the paper.
I have been a Boglehead for a very long time and also have a significant portion of my net worth invested in Bitcoin. Not cryptocurrency, but only Bitcoin. There are a ton of brilliant people on this forum but bogleheads.org is not the most fertile ground for bringing people into the Bitcoin world!
Re: Who’s Buying Bitcoin?
I'll admit I used Bitcoin to buy a sandwich at a local deli once. But the transaction fees are pretty high for these small transactions. It looks like, at current fees, a Bitcoin transaction would start to beat out 2.9% credit card fees above $15 or so. That's a lot better than it has been in the past.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
Fee history: https://bitcoinfees.info/
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Re: Who’s Buying Bitcoin?
I find your username most ironic based upon this questionJon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 3:16 pm I’m about to pull trigger and buy bitcoin, ethereum, and some Litecoin tomorrow. Who else is investing in these? What % allocation are you going with?
You can change your username by PM'ing an Admin (maybe go with "Jon_SpeculativeInvestor" ).
Re: Who’s Buying Bitcoin?
If as a digital store of value would buy Bitcoin only. Use Cash App.Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 3:16 pm I’m about to pull trigger and buy bitcoin, ethereum, and some Litecoin tomorrow. Who else is investing in these? What % allocation are you going with?
Re: Who’s Buying Bitcoin?
Why physical? One of the purposes of gold in my portfolio is to insure against the risk that all of my electronic holdings go to zero if the bits and bytes stored on a server at who-knows-what location get lost or become inaccessible through malfeasance or accident.
I'm into crypto for $300, which is a very tiny percentage of my portfolio. I wouldn't say that I'm "into crypto" in the colloquial sense of that phrase.
A 10-20% allocation to gold has helped with the sequence of returns problem. Some gold held physically is also good insurance against the all-digital-assets problem.
Re: Who’s Buying Bitcoin?
Once the Lightning Network is ready for prime time Bitcoin will be much better for payments. For now would stick with the legacy system (Venmo, Visa/Mastercard, etc.)redstar wrote: ↑Thu Jan 16, 2020 12:43 pmI'll admit I used Bitcoin to buy a sandwich at a local deli once. But the transaction fees are pretty high for these small transactions. It looks like, at current fees, a Bitcoin transaction would start to beat out 2.9% credit card fees above $15 or so. That's a lot better than it has been in the past.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
Fee history: https://bitcoinfees.info/
The true value proposition of Bitcoin is as a non-inflatable decentralized digital store of value.
Re: Who’s Buying Bitcoin?
Hopefully it wasn't a hot sandwich or they at least let you eat it before all the confirmations came in.redstar wrote: ↑Thu Jan 16, 2020 12:43 pmI'll admit I used Bitcoin to buy a sandwich at a local deli once. But the transaction fees are pretty high for these small transactions. It looks like, at current fees, a Bitcoin transaction would start to beat out 2.9% credit card fees above $15 or so. That's a lot better than it has been in the past.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
Fee history: https://bitcoinfees.info/
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Re: Who’s Buying Bitcoin?
StarbucksNate79 wrote: ↑Thu Jan 16, 2020 12:35 pmInteresting. When did you buy a coffee with bitcoin?Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
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Re: Who’s Buying Bitcoin?
I've been buying for the past couple years, willing to take the risk hoping for higher return. So far I'm happy with the performance.
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Re: Who’s Buying Bitcoin?
I feel the same. Big things in the future!JHU ALmuni wrote: ↑Thu Jan 16, 2020 12:51 pm I've been buying for the past couple years, willing to take the risk hoping for higher return. So far I'm happy with the performance.
100% VTSAX in Taxable Account. |
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Re: Who’s Buying Bitcoin?
I'm curious how you did the transaction. Was it in the app or how did you pay with bitcoin at Starbucks?Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:49 pmStarbucksNate79 wrote: ↑Thu Jan 16, 2020 12:35 pmInteresting. When did you buy a coffee with bitcoin?Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
Re: Who’s Buying Bitcoin?
Hah, no they didn't seem to care for confirmations. I guess sandwiches aren't high-stakes enough to worry about double spending.queso wrote: ↑Thu Jan 16, 2020 12:49 pmHopefully it wasn't a hot sandwich or they at least let you eat it before all the confirmations came in.redstar wrote: ↑Thu Jan 16, 2020 12:43 pmI'll admit I used Bitcoin to buy a sandwich at a local deli once. But the transaction fees are pretty high for these small transactions. It looks like, at current fees, a Bitcoin transaction would start to beat out 2.9% credit card fees above $15 or so. That's a lot better than it has been in the past.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
Fee history: https://bitcoinfees.info/
Re: Who’s Buying Bitcoin?
Was it a Jewish deli? If so, there could have been at least 150k Satoshi or so worth of meat on that sandwich.redstar wrote: ↑Thu Jan 16, 2020 12:53 pmHah, no they didn't seem to care for confirmations. I guess sandwiches aren't high-stakes enough to worry about double spending.queso wrote: ↑Thu Jan 16, 2020 12:49 pmHopefully it wasn't a hot sandwich or they at least let you eat it before all the confirmations came in.redstar wrote: ↑Thu Jan 16, 2020 12:43 pmI'll admit I used Bitcoin to buy a sandwich at a local deli once. But the transaction fees are pretty high for these small transactions. It looks like, at current fees, a Bitcoin transaction would start to beat out 2.9% credit card fees above $15 or so. That's a lot better than it has been in the past.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
Fee history: https://bitcoinfees.info/
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Re: Who’s Buying Bitcoin?
Asset allocation for something like cryptocurrencies should be less than 1 or 2% of total portfolio. I have less than 1 percent and hold Bitcoin, LTC and ETH. Definitely is a gamble and you should only use money you don't need and quite possibly lose.
Good luck!
Good luck!
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Re: Who’s Buying Bitcoin?
App called Flexa. Crate Barrel accepts it now too.Nate79 wrote: ↑Thu Jan 16, 2020 12:52 pmI'm curious how you did the transaction. Was it in the app or how did you pay with bitcoin at Starbucks?Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:49 pmStarbucksNate79 wrote: ↑Thu Jan 16, 2020 12:35 pmInteresting. When did you buy a coffee with bitcoin?Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
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Re: Who’s Buying Bitcoin?
I agree completely. I will cap it at 1%SlowlySaving wrote: ↑Thu Jan 16, 2020 12:58 pm Asset allocation for something like cryptocurrencies should be less than 1 or 2% of total portfolio. I have less than 1 percent and hold Bitcoin, LTC and ETH. Definitely is a gamble and you should only use money you don't need and quite possibly lose.
Good luck!
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Re: Who’s Buying Bitcoin?
I have bought btc for a over a couple years now. It has really gone up and sometimes hits 15-20 percent of my portfolio. It’s mad money, I have probably invested like 2-3 percent of my net worth in crypto. I have never sold btc, held through 20k, bought again at 6k, 3k, going down, catches me the falling knife, then a small bit at 5k on way up.Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 3:16 pm I’m about to pull trigger and buy bitcoin, ethereum, and some Litecoin tomorrow. Who else is investing in these? What % allocation are you going with?
Bitcoin yearly return
This table displays Bitcoin Historical Prices on January 1st of each year.
Year Bitcoin Price ($) Change ($) Change (%)
2019 3,869.47 -9,542.97 -71.15
2018 13,412.44 12,414.75 1,244.35
2017 997.69 563.23 129.64
2016 434.46 120.54 38.40
2015 313.92 -456.51 -59.25
2014 770.44 757.13 5,690.96
2013 13.30 8.04 152.56
2012 5.27 4.97 1,655.90
2011 0.30 0.21 249.65
2010 0.09 0 0
Sorry for jumbled nature.
If you buy bitcoin, it will be VERY volatile. It can drop 70-90 percent in value expectantly.
I assume you are not a timer, but a buy and holder (HODLER in bitcoin parlance). Compared to say, former holders of small cap value or say REIT, who have chosen to quit doing those asset classes..... Bitcoin is far far more likely to result in capitulation.
So write off that money mentally, DCA in with money you can afford to lose, and HODL for at least 5-10 years no matter what happens....
Of course, if you can time, then you can time lol, but I do not believe in timing return expectantly.
Good luck.
I would keep your invested percentage small, like 1-3 percent, at most 10 percent. Btc is definitely “mad money”. Now for the end percentage, with big gains, I view that as a different question. I view my mad money account as outside of my asset allocation, but in the fact end, if it hits like 30-50 percent net worth, I will likely start selling some, even though I think ten years from now a significant gain is reasonable likey.
All the above is boglehead Heresy, it’s a MAD MONEY move you are contemplating. Be prepared to lose all you invest in btc.
Also if an chance you will back out when it falls hard, don’t invest, it WILL fall hard.
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Re: Who’s Buying Bitcoin?
What is your asset allocation % between the three?SlowlySaving wrote: ↑Thu Jan 16, 2020 12:58 pm Asset allocation for something like cryptocurrencies should be less than 1 or 2% of total portfolio. I have less than 1 percent and hold Bitcoin, LTC and ETH. Definitely is a gamble and you should only use money you don't need and quite possibly lose.
Good luck!
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Re: Who’s Buying Bitcoin?
Yes I’m very aware. Capping out this investment at 1% of portfolio.SemiRetire wrote: ↑Thu Jan 16, 2020 1:09 pmI have bought btc for a over a couple years now. It has really gone up and sometimes hits 15-20 percent of my portfolio. It’s mad money, I have probably invested like 2-3 percent of my net worth in crypto. I have never sold btc, held through 20k, bought again at 6k, 3k, going down, catches me the falling knife, then a small bit at 5k on way up.Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 3:16 pm I’m about to pull trigger and buy bitcoin, ethereum, and some Litecoin tomorrow. Who else is investing in these? What % allocation are you going with?
Bitcoin yearly return
This table displays Bitcoin Historical Prices on January 1st of each year.
Year Bitcoin Price ($) Change ($) Change (%)
2019 3,869.47 -9,542.97 -71.15
2018 13,412.44 12,414.75 1,244.35
2017 997.69 563.23 129.64
2016 434.46 120.54 38.40
2015 313.92 -456.51 -59.25
2014 770.44 757.13 5,690.96
2013 13.30 8.04 152.56
2012 5.27 4.97 1,655.90
2011 0.30 0.21 249.65
2010 0.09 0 0
Sorry for jumbled nature.
If you buy bitcoin, it will be VERY volatile. It can drop 70-90 percent in value expectantly.
I assume you are not a timer, but a buy and holder (HODLER in bitcoin parlance). Compared to say, former holders of small cap value or say REIT, who have chosen to quit doing those asset classes..... Bitcoin is far far more likely to result in capitulation.
So write off that money mentally, DCA in with money you can afford to lose, and HODL for at least 5-10 years no matter what happens....
Of course, if you can time, then you can time lol, but I do not believe in timing return expectantly.
Good luck.
I would keep your invested percentage small, like 1-3 percent, at most 10 percent. Btc is definitely “mad money”. Now for the end percentage, with big gains, I view that as a different question. I view my mad money account as outside of my asset allocation, but in the fact end, if it hits like 30-50 percent net worth, I will likely start selling some, even though I think ten years from now a significant gain is reasonable likey.
All the above is boglehead Heresy, it’s a MAD MONEY move you are contemplating. Be prepared to lose all you invest in btc.
Also if an chance you will back out when it falls hard, don’t invest, it WILL fall hard.
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- ruralavalon
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Re: Who’s Buying Bitcoin?
"Flexa then converts a consumer’s cryptocurrency to U.S. dollars in real time for payment to the merchant." Venturebeat (5/13/2019),Flexa launches mobile app for spending cryptocurrency.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 1:02 pmNate79 wrote: ↑Thu Jan 16, 2020 12:52 pmI'm curious how you did the transaction. Was it in the app or how did you pay with bitcoin at Starbucks?Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:49 pmStarbucksNate79 wrote: ↑Thu Jan 16, 2020 12:35 pmInteresting. When did you buy a coffee with bitcoin?Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 12:19 pm I can pay for my coffee in bitcoin and then pay for a shopping trip at Nordstrom. Pretty crazy to think the top dogs are accepting bitcoin as currency!
App called Flexa. Crate Barrel accepts it now too.
So cryptocurrency has to be converted to a real currency before you can actually spend it.
Last edited by ruralavalon on Thu Jan 16, 2020 1:18 pm, edited 1 time in total.
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Re: Who’s Buying Bitcoin?
Welcome to bogleheads. Wait. You’ve been here since 2011! Have you seen a doctor about your inability to absorb and assimilate the three fund portfolio?Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 10:55 pmI’m realizing this haha.abuss368 wrote: ↑Wed Jan 15, 2020 9:57 pmYou may be on the wrong forum for this! Not an investment but rather speculation.Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 3:16 pm I’m about to pull trigger and buy bitcoin, ethereum, and some Litecoin tomorrow. Who else is investing in these? What % allocation are you going with?
Potential - distraction = performance.
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Re: Who’s Buying Bitcoin?
I joined them built a business so wasn’t very active! I’m back now . I’m a single fund guy right now though, I’m 31. VTSAX train alllll aboard!Presintense wrote: ↑Thu Jan 16, 2020 1:18 pmWelcome to bogleheads. Wait. You’ve been here since 2011! Have you seen a doctor about your inability to absorb and assimilate the three fund portfolio?Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 10:55 pmI’m realizing this haha.abuss368 wrote: ↑Wed Jan 15, 2020 9:57 pmYou may be on the wrong forum for this! Not an investment but rather speculation.Jon_PassiveInvestor wrote: ↑Wed Jan 15, 2020 3:16 pm I’m about to pull trigger and buy bitcoin, ethereum, and some Litecoin tomorrow. Who else is investing in these? What % allocation are you going with?
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Re: Who’s Buying Bitcoin?
From what I know that’s correct. It’s a digital currency.ruralavalon wrote: ↑Thu Jan 16, 2020 1:15 pm"Flexa then converts a consumer’s cryptocurrency to U.S. dollars in real time for payment to the merchant." Venturebeat (5/13/2019),Flexa launches mobile app for spending cryptocurrency.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 1:02 pmNate79 wrote: ↑Thu Jan 16, 2020 12:52 pmI'm curious how you did the transaction. Was it in the app or how did you pay with bitcoin at Starbucks?
App called Flexa. Crate Barrel accepts it now too.
So cryptocurrency has to be converted to a real currency before you can actually spend it.
100% VTSAX in Taxable Account. |
100% VTSAX in Retirement Accounts
Re: Who’s Buying Bitcoin?
Sounds like a Go Fund Me project.
Global stocks, IG/HY bonds, gold & digital assets at market weights 75% / 19% / 6% || LMP: TIPS ladder
- ruralavalon
- Posts: 26351
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- Location: Illinois
Re: Who’s Buying Bitcoin?
My point being that cryptocurrency is not a currency.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 1:26 pmFrom what I know that’s correct. It’s a digital currency.ruralavalon wrote: ↑Thu Jan 16, 2020 1:15 pm"Flexa then converts a consumer’s cryptocurrency to U.S. dollars in real time for payment to the merchant." Venturebeat (5/13/2019),Flexa launches mobile app for spending cryptocurrency.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 1:02 pm
App called Flexa. Crate Barrel accepts it now too.
So cryptocurrency has to be converted to a real currency before you can actually spend it.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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Re: Who’s Buying Bitcoin?
I’m thinking 60/20/20 for allocation across bit, eth, and Ltc. I’ll be buying and holding for years to come.
Thoughts?
Thoughts?
100% VTSAX in Taxable Account. |
100% VTSAX in Retirement Accounts
Re: Who’s Buying Bitcoin?
Ask on Reddit.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 2:57 pm I’m thinking 60/20/20 for allocation across bit, eth, and Ltc. I’ll be buying and holding for years to come.
Thoughts?
Not here.
Global stocks, IG/HY bonds, gold & digital assets at market weights 75% / 19% / 6% || LMP: TIPS ladder
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Re: Who’s Buying Bitcoin?
Good advice ha! Did you see this study from Yale? https://www.investopedia.com/news/every ... ale-study/watchnerd wrote: ↑Thu Jan 16, 2020 2:58 pmAsk on Reddit.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 2:57 pm I’m thinking 60/20/20 for allocation across bit, eth, and Ltc. I’ll be buying and holding for years to come.
Thoughts?
Not here.
100% VTSAX in Taxable Account. |
100% VTSAX in Retirement Accounts
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Re: Who’s Buying Bitcoin?
Thanks, but I'd rather take the advice of John Bogle, Warren Buffet and Nobel Prize winner Shiller than some random Yale economist.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 3:04 pmGood advice ha! Did you see this study from Yale? https://www.investopedia.com/news/every ... ale-study/watchnerd wrote: ↑Thu Jan 16, 2020 2:58 pmAsk on Reddit.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 2:57 pm I’m thinking 60/20/20 for allocation across bit, eth, and Ltc. I’ll be buying and holding for years to come.
Thoughts?
Not here.
Re: Who’s Buying Bitcoin?
No, but the headline sounds like click bait and, on the surface, idiotic.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 3:04 pmGood advice ha! Did you see this study from Yale? https://www.investopedia.com/news/every ... ale-study/watchnerd wrote: ↑Thu Jan 16, 2020 2:58 pmAsk on Reddit.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 2:57 pm I’m thinking 60/20/20 for allocation across bit, eth, and Ltc. I’ll be buying and holding for years to come.
Thoughts?
Not here.
I'd never put 6% of my portfolio in Bitcoin.
If a seven figure port, that's hundreds of thousands of dollars in Bitcoin.
Global stocks, IG/HY bonds, gold & digital assets at market weights 75% / 19% / 6% || LMP: TIPS ladder
- ruralavalon
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Re: Who’s Buying Bitcoin?
"On the other hand, Tsyvinski's study stands in contrast with that of Nobel laureate Robert Shiller, who suggested in May that bitcoin is a failed experiment and 'another example of faddish human behavior.' "beehivehave wrote: ↑Thu Jan 16, 2020 3:10 pmThanks, but I'd rather take the advice of John Bogle, Warren Buffet and Nobel Prize winner Shiller than some random Yale economist.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 3:04 pmGood advice ha! Did you see this study from Yale? https://www.investopedia.com/news/every ... ale-study/watchnerd wrote: ↑Thu Jan 16, 2020 2:58 pmAsk on Reddit.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 2:57 pm I’m thinking 60/20/20 for allocation across bit, eth, and Ltc. I’ll be buying and holding for years to come.
Thoughts?
Not here.
"Everything should be as simple as it is, but not simpler." - Albert Einstein |
Wiki article link: Bogleheads® investment philosophy
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- Joined: Sat Mar 12, 2011 9:23 pm
Re: Who’s Buying Bitcoin?
Yup the 6% was scary!watchnerd wrote: ↑Thu Jan 16, 2020 3:12 pmNo, but the headline sounds like click bait and, on the surface, idiotic.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 3:04 pmGood advice ha! Did you see this study from Yale? https://www.investopedia.com/news/every ... ale-study/watchnerd wrote: ↑Thu Jan 16, 2020 2:58 pmAsk on Reddit.Jon_PassiveInvestor wrote: ↑Thu Jan 16, 2020 2:57 pm I’m thinking 60/20/20 for allocation across bit, eth, and Ltc. I’ll be buying and holding for years to come.
Thoughts?
Not here.
I'd never put 6% of my portfolio in Bitcoin.
If a seven figure port, that's hundreds of thousands of dollars in Bitcoin.
100% VTSAX in Taxable Account. |
100% VTSAX in Retirement Accounts