What do people think about Bitcoin?

Agreed. It's a long term hold. Realizing that blockchain is the way of the future, these funds at least expose you to the inherent growth therein. No it won't pop like cryptos, but these companies are showing that they are forward thinking. And if one or more of them have a blockchain breakthrough, the fund will reflect.

Plus, because there IS so much hype around blockchain, these easily accessible funds should get some decent growth from pure speculation players. See GBTC.

 

Keep in mind these funds are one week old. They haven't had any major price fluctuations yet. So far, everything with "blockchain" attached to it has exploded at some point. And these are legitimate funds with diverse holdings in major companies. If you are reading this now, you have an opportunity to get in from ground level. Personally I am excited.

 

GBTC is different from these funds. GBTC (somewhat unsuccessfully) tries to track Bitcoin's price and was made to give people who couldn't buy BTC a way to gain from BTC's rise without having to buy BTC. Its only goal is to follow BTC's price and its bottom line is based off of BTC, not televisions, databases, gaming consoles, or banking like most of the companies in those ETF's.

 

Yes of course. I was just referring to the fact that GBTC did (still does) trade at quite a premium over BTC due to it being accessible on the stock market. Plenty of regular joes don't want to go about signing up for a crypto exchange, creating a wallet, etc.

 

But DD is right.. ground floor of what? Investing in Intel and Microsoft? I think those are solid tech companies, but I wouldn't consider it investing in "blockchain." Seems like a gimmick to get people into a bunch of safe tech stocks. Doesn't mean you won't make money though.

 

Well if you look at the holdings of BLCN for example, their largest holding (overstock) is less than 3% of the fund. They actually have quite a diverse mix of large cap/small cap, us/international companies. Also with BLCN the holdings are revised semi-anually based on a 'blockchain rating' based on several factors. BLOK has even more small caps/intls.

That said, I don't totally disagree with your sentiment. It is slightly gimmicky. But hey, cryptos as a rule are gimmicky and look what they have done.

 

Yeah, and that's the danger in GBTC. It's a tracking fund that doesn't track what it's supposed to track very well. This is an older article, but it details why owning it could be a scary proposition : https://seekingalpha.com/article/4132678-sell-bitcoin-investment-trust

 

http://justinsun.surge.sh/

 

Had it (my lucky ass got in at $125). Sold it. Aint touching it again.

 

Compare this chart of nasdaq during the .com bubble:
https://www.google.com/search?q=.co..._AUIEygD&biw=360&bih=517#imgrc=La3R6y5XHo_NnM:


To this chart of global crypto market cap:
https://coinmarketcap.com/charts/

Look familiar? The similarities are uncanny. Even the time of year is the same. Nasdaq skyrocketed in late 99 - early 2000. Then it had a rapid steep decline. It made a slight recovery then later in 2000 it plummeted.

I don't know about the rest if yall but I won't be reinvesting in cryptos until the market cap is under 300 billion.

 

A bit misleading because due to the shear spike in cap, you are not seeing the bubble pops and spikes/surges from previous years. It didn't just go horizontal for 4yrs and then spike.

The dotcom chart is way different if you compare the market cap sizes and volatiltiy, so the chart is not comparable in scale.
If you check all crypto years in detail, we had multiple textbook bubble patterns, your chart just isn't showing them due to the 2017 cap increase dwarfing the movement of past years and distorting the chart.

 

^^
That said, I fully agree that every additional day is dangerous and that we'll see a massive crash at some point, just don't know when.

 

After some more in-depth research and some chatting with Yung-T, I agree with him that those two charts really do not make a proper comparison.

 

Gonna pop that bubble with some phat a**, ye.

 

Still got 600 ltc I gotta dump.

SIL

 

News of robinhoods junkass promoting fee free cc trading soon did nada. Robinhood is ****.

SIL

 

I did that at $250. Should have dumped at $400 but still came out comfortably on top.

 

I'm talking from my 188-195 purchases a week or so ago.

Overall, I did most damage at 360 level off of a 50-97-133 buy point.

Ripple, I made more money in that alone. Then I have invested in general. So I'll HODL.

SIL

 

Why would you think that would move the market? It hasn't launched yet, and it's only available to a handful of states initially -- states like friggin' Montana. However, I have read that there is a huge waitlist for it - half a million in less than 24 hours? Can only be a good sign for the future, even if those 500K people buy in for $5 each.

 

I don't think it'd move the market until it's at least open. Just any news, is news. I signed up.

SiL