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  1. #3776
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    Quote Originally Posted by LeeLau View Post
    Institutional buyin. Ie Full faith and Credit
    Full faith and credit of who, exactly?
    focus.

  2. #3777
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    Aug 2020
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    Quote Originally Posted by LeeLau View Post
    Institutional buyin. Ie Full faith and Credit
    I appreciate the response but I donít understand.

  3. #3778
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    Because itís nonsense. LeeLau seems like a sharp dude, but this one has me scratching my head. One of the things BTC doesnít have, to any degree, is full faith and credit. Which was going to be my response to and discussion with Montucky until LeeLau dropped that and now I have no idea wtf....
    focus.

  4. #3779
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    Feb 2005
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    Quote Originally Posted by MontuckyFried View Post
    Well for one, when you can literally hold all your funds in a hardware crypto wallet, then "banning" crypto's gonna be about as effective as banning any other kind of contraband or illegal item.

    Imagine having millions of dollars worth of an asset on what amounts to basically an encrypted thumb drive and only YOU have the keys to it. In your head. Speaking of which, I need to pick up one of those Ledger Nanos or Trezors. Anybody here know anything about them?
    I use a ledger nano x and can't complain. Whatever hardware wallet you choose, make sure you buy it directly from the manufacturer.

  5. #3780
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    Quote Originally Posted by Mustonen View Post
    Because it’s nonsense. LeeLau seems like a sharp dude, but this one has me scratching my head. One of the things BTC doesn’t have, to any degree, is full faith and credit. Which was going to be my response to and discussion with Montucky until LeeLau dropped that and now I have no idea wtf....
    Do you have any idea how much institutional investment is in btc and how much they've been pulling off of exchanges? This isn't just geeks playing with candy money.

  6. #3781
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    Quote Originally Posted by MakersTeleMark View Post
    Do you have any idea how much institutional investment is in btc and how much they've been pulling off of exchanges? This isn't just geeks playing with candy money.
    Oh, I didnít say it was. But thatís a far different thing than what ďfull faith and creditĒ implies, not that the implication even makes sense.
    focus.

  7. #3782
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    Click image for larger version. 

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    I thought you guys were using hyperbole when you kept saying Dodgecoin was a joke. Wow.


    Sent from my iPhone using TGR Forums
    Lots of Cream, Lots of Sugar

  8. #3783
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    Feb 2005
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    Quote Originally Posted by Mustonen View Post
    Oh, I didn’t say it was. But that’s a far different thing than what “full faith and credit” implies, not that the implication even makes sense.
    "Full Faith and Credit" is deliberate irony. People are using condos in Toronto or Vancouver as relative storehouses of value vis-a-vis inflation and erosion of CAD to Canadian government quantitative easing and fiat currency debasement. GLD and TIPS/RRI used to be my anti-inflation hedge. Similarly so is my Canadian RE holdings. I've now come to the way of thinking that BTC is better than my TIPS/RRI holdings since they're not subject to governmental urge to print endless amounts of money (TIPs being US dollar, RRI being Canadian dollar; both inflation-adjusted but only adjusted to nominal rates which I feel are dramatically understated).

    I have very little faith in the willingness or even ability of US or Canadian governments to halt the money printer. Ergo inflation occurs. Ergo my USD and CAD holdings erode if I keep them in cash-equivalents. I have more faith in the implacability of supply-demand constraints of a mathematically-constrained supply of Coins.

    Finally I view holding BTC as equal to being short the entire monetary system. Since I am very long the monetary system through stocks, RE holdings. options this satisfies my desire to hedge

  9. #3784
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    That makes more sense.
    focus.

  10. #3785
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    Sep 2010
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    Quote Originally Posted by MakersTeleMark View Post
    I use a ledger nano x and can't complain. Whatever hardware wallet you choose, make sure you buy it directly from the manufacturer.
    Cool. I believe you so will follow your advice to buy straight from manufacturer, but can you tell me why? Just curious.

  11. #3786
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    Quote Originally Posted by jm2e View Post
    I thought you guys were using hyperbole when you kept saying Dodgecoin was a joke. Wow.
    Nope. Which is why I'm seriously perplexed with what the hell is going on right now. Just checked my balance and I'm approaching damn near 10x my initial investment from just 8 weeks ago. WTF?!

    Starting to regret throwing just a few bucks of play money at it. Guess I shoulda gone harder. Oh well. At least if it craters to oblivion I won't be out much. Still wild to witness.

  12. #3787
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    Quote Originally Posted by LeeLau View Post
    "Full Faith and Credit" is deliberate irony. People are using condos in Toronto or Vancouver as relative storehouses of value vis-a-vis inflation and erosion of CAD to Canadian government quantitative easing and fiat currency debasement. GLD and TIPS/RRI used to be my anti-inflation hedge. Similarly so is my Canadian RE holdings. I've now come to the way of thinking that BTC is better than my TIPS/RRI holdings since they're not subject to governmental urge to print endless amounts of money (TIPs being US dollar, RRI being Canadian dollar; both inflation-adjusted but only adjusted to nominal rates which I feel are dramatically understated).

    I have very little faith in the willingness or even ability of US or Canadian governments to halt the money printer. Ergo inflation occurs. Ergo my USD and CAD holdings erode if I keep them in cash-equivalents. I have more faith in the implacability of supply-demand constraints of a mathematically-constrained supply of Coins.

    Finally I view holding BTC as equal to being short the entire monetary system. Since I am very long the monetary system through stocks, RE holdings. options this satisfies my desire to hedge
    So holding an asset thatís guaranteed deflationary by design is a leveraged return on inflation

  13. #3788
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    Quote Originally Posted by MontuckyFried View Post
    Cool. I believe you so will follow your advice to buy straight from manufacturer, but can you tell me why? Just curious.
    There are fake ones out there that will steal your coins as soon as you download them.
    The pacifists always lose, because the anti-pacifists kill them.

  14. #3789
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    Feb 2005
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    Quote Originally Posted by JimmyCarter View Post
    So holding an asset that’s guaranteed deflationary by design is a leveraged return on inflation
    I suppose that's one way to put it. The asset is guaranteed deflationary but over what timeframe? I feel the 300K BTC bulls are over-confident.

    But I have too much of my NW tied up in RE (approx 18%) due to it having inflated. Another large chunk (60% or so) are in dividend companies benefiting from low rates. Therefore I am somewhat neutral on fed QE.

    I held too much cash equivalents having liquidated pre-COVID and failed to deploy during the 2020 meltdown. Some was deployed but most was sidelined. My alternatives are to resume a Talib black-swan strategy of overall shorting the market or simply hold the cash. I don't have the mindset to withstand the pain of the former. I don't like the odds of inflation-erosion on the latter.

  15. #3790
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    Feb 2005
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    If you need to be in cash, you can always convert to USDC and stake it for 8-16%.

  16. #3791
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    Quote Originally Posted by MontuckyFried View Post
    Nope. Which is why I'm seriously perplexed with what the hell is going on right now. Just checked my balance and I'm approaching damn near 10x my initial investment from just 8 weeks ago. WTF?!

    Starting to regret throwing just a few bucks of play money at it. Guess I shoulda gone harder. Oh well. At least when it craters to oblivion I won't be out much. Still wild to witness.
    FIFY. SO GTFO.

  17. #3792
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    Quote Originally Posted by MakersTeleMark View Post
    If you need to be in cash, you can always convert to USDC and stake it for 8-16%.
    I saw that play. The arb is already closing unfortunately. I see it can also be lodged in an instrument guaranteed by New York regulators which is frankly awesome. IMO I'd be late to the party starting it now.

    I've converted some cash to RIOT being a bitcoin miner with high-volume options. The covered calls on RIOT returns higher than that which satisfies a criteria for having a portion of my holdings exposed to BTC yet generating some income.

    I also hold BTC directly through a Canadian listed ETF (BTCC-U on the TSE) which can be held in a tax-free account.

  18. #3793
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    Quote Originally Posted by AKPogue View Post
    There are fake ones out there that will steal your coins as soon as you download them.
    Woah! Good to know. Will definitely go straight to the source, then.

  19. #3794
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    Don't all these staking interest rates have assumptions built in, that might not come true in the future?

    About Proof-of-Stake (POS) and staking. What does it say about the monies security system when you have to offer people "too good to be true" rates of return in order to have them secure the network? What happens when you can't offer those rates of return? Does the network have the same level of security?

    Re: Ledger. Can't someone just bribe the delivery company(s) that handle manufacturer-direct wallets and swappo the chippo inside it?

    Re: Banning crypto. Did they have to ban tulips?

    Re: Dogecoin. Isn't it actually better than Bitcoin in every way? (Price growth, speed, monetary policy, cute dog, etc.)

    Re: Bitcoin deflation. Can't the 'Bitcoin Collective' of miners and nodes swap chains or institute changes to the issuance at any time? They don't have to consult BTC owners at all even, do they?
    Last edited by puregravity; 04-16-2021 at 01:14 PM. Reason: enhanced staking to new V2.1
    OH, MY GAWD! ―John Hillerman
    What cannot be settled by skiing is not worth debating ―Mike Alder.
    During a nuclear explosion, there is a certain radius where all frozen pizza will be cooked perfectly. ― Unknown

  20. #3795
    Join Date
    Apr 2006
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    2,247
    Quote Originally Posted by LeeLau View Post
    "Full Faith and Credit" is deliberate irony. People are using condos in Toronto or Vancouver as relative storehouses of value vis-a-vis inflation and erosion of CAD to Canadian government quantitative easing and fiat currency debasement. GLD and TIPS/RRI used to be my anti-inflation hedge. Similarly so is my Canadian RE holdings. I've now come to the way of thinking that BTC is better than my TIPS/RRI holdings since they're not subject to governmental urge to print endless amounts of money (TIPs being US dollar, RRI being Canadian dollar; both inflation-adjusted but only adjusted to nominal rates which I feel are dramatically understated).

    I have very little faith in the willingness or even ability of US or Canadian governments to halt the money printer. Ergo inflation occurs. Ergo my USD and CAD holdings erode if I keep them in cash-equivalents. I have more faith in the implacability of supply-demand constraints of a mathematically-constrained supply of Coins.

    Finally I view holding BTC as equal to being short the entire monetary system. Since I am very long the monetary system through stocks, RE holdings. options this satisfies my desire to hedge
    exactly.

  21. #3796
    Join Date
    Apr 2006
    Posts
    2,247
    i'm interested in trading someone about 15,000 usd of btc for the equivalent of physical gold.

    if you did't pay much for your gold might be a cheap way into btc.

    long shot i know.

  22. #3797
    Join Date
    Dec 2002
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    6,107
    Quote Originally Posted by byates1 View Post
    i'm interested in trading someone about 15,000 usd of btc for the equivalent of physical gold.

    if you did't pay much for your gold might be a cheap way into btc.

    long shot i know.
    Virtual gold

  23. #3798
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    Sep 2011
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  24. #3799
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    Quote Originally Posted by LeeLau View Post
    I suppose that's one way to put it. The asset is guaranteed deflationary but over what timeframe? I feel the 300K BTC bulls are over-confident.

    But I have too much of my NW tied up in RE (approx 18%) due to it having inflated. Another large chunk (60% or so) are in dividend companies benefiting from low rates. Therefore I am somewhat neutral on fed QE.

    I held too much cash equivalents having liquidated pre-COVID and failed to deploy during the 2020 meltdown. Some was deployed but most was sidelined. My alternatives are to resume a Talib black-swan strategy of overall shorting the market or simply hold the cash. I don't have the mindset to withstand the pain of the former. I don't like the odds of inflation-erosion on the latter.
    Some good numbers to back this strategy up.

    https://rockstarinnercircle.com/wp-c...-Insurance.pdf



    Essentially audio version of above
    https://open.spotify.com/episode/020...SV-N8rCdJ7SdJg

    Sent from my Pixel 4 XL using Tapatalk

  25. #3800
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    Quote Originally Posted by Flounder View Post
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    The stick of dynamite, the pipe and the UFO! LOL. He's trying to tell us something.
    OH, MY GAWD! ―John Hillerman
    What cannot be settled by skiing is not worth debating ―Mike Alder.
    During a nuclear explosion, there is a certain radius where all frozen pizza will be cooked perfectly. ― Unknown

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