I'm all for coinbase doing the IPO and being the "first crypto company to get on nasdaq" BUT the only question I have is.. If you sit on money to invest, why would you buy coinbase stock vs buying btc? Enlighten me someone?
You cannot buy bitcoin in your typical tax-advantageous accounts (in US), such as IRA and Roth IRA.
Theoretically, you can if you open something called self-directed IRA, but it is a hassle and they have yearly fees, typically.
You can buy GBTC and COIN there, though.
A simple explanation. Most US people have a bulk of their investable money in those entities (IRA and Roth IRA).
Gotcha, so it's for tax purposes more or less? How does it work if you buy BTC direct, no tax cuts or otherwise?
yes and plus, as i mentioned, you are not allowed to trade btc in most IRAs, but you can trade stocks (like GBTC and COIN).
BTW, it looks like that WS wants to play COIN the same way they played FB (push it down first).
They probably think that this drop might entice more employees to sell.
Right now those employees are probably on pins and needles since they could have sold it in pre-IPO sales for $470 and now the price is $100 lower.
$580 on FTX looks like a joke (for now).
The self directed IRA is well worth going through the hoops to setup. Thanks to WO I learned of the possibility over a year ago and decided to do it. Best decision I've ever made. Yes there are yearly fees but so what. It's worth it to take control of your retirement account. Don't sleep on this especially if you have a decent chunk sitting in a regular 401k or IRA not doing much.
That was some of the angles that I was superficially considering in late 2014. I had already acquired a decent direct stake in bitcoin by late 2014, but my stake in bitcoin was negative in terms of the amount that I invested in and the BTC price (I think that the BTC price was around $400 during that time and my cost per BTC was likely higher than $600 per BTC), and I was thinking that I could take half of my 401k and largely more than double my BTC holdings (and bring down my average cost per BTC too), but have those funds within a self-directed IRA - so not suffer any tax consequences for the management or the moving around of those funds, once they are in such self-directed IRA.
My ultimate conclusion was that I had already acquired a more than sufficient stake in bitcoin, so why put my 401k funds at potential risk - and if BTC goes up anywhere close previous ATHs of $1,163, my BTC investment would provide sufficiently in terms of returns and hedging and of course, I was thinking that there were decent possibilities that BTC go into the $3k to $5k range with $10k as more bullish scenarios that could take many years to play out.
I don't really regret my decision, even though I do see the power of such self-directed optionality, which does still seem quite tempting and probably even more tempting for someone who might have a longer investment time horizon, as compared to my own.
Weird stuff is going on. Yes BTC is kind of putt putting but my kid is going on about his DOGE mining (I've reactivated a few Titans, and they are fucking PROFITABLE?
ON DOGE?? IT'S THE GOD OF SHITCOINS!!!!!)
So what's up? People just nuts? I'm not seeing relative movement on LTC, it's still pegged at .004 to a BTC instead of the .012-.018 before the 2019 implosions.
ON DOGE?? IT'S THE GOD OF SHITCOINS!!!!!) So what's up? People just nuts? I'm not seeing relative movement on LTC, it's still pegged at .004 to a BTC instead of the .012-.018 before the 2019 implosions.
I have around 20 l3+ miners and they merge mine ltc/doge
I sell the ltc for fiat and btc.
I hodl the doge and level up my sales.
2000 at 4 cents
2000 at 5 cents
2000 at 6 cents.
2000 at 7 cents
2000 at 8 cents
2000 at 9 cents
2000 at 10 cents
2000 at 11 cents
2000 at 12 cents
2000 at 13 cents
2000 at 14 cents
every one above is gone sold.
So i still have
1000 at 15 cents
1000 at 16 cents
1000 at 17 cents
1000 at 18 cents
1000 at 19 cents
500 at 20 cents
500 at 21 cents
500 at 22 cents
500 at 23 cents
500 at 24 cents
while all of the above was listed and sold or is still listed.
I am stacking about 5 ltc and 10000 doge a month mining.
when every thing sells out or when I stack 20000 doge with the current mining I will stack again.
My partner hodl all his doge and is pushing 700,000 doge on hodl
I am a little reluctant to engage on your shitcoinery talk Philip, but seems that you are taking a kind of practical approach to the matter to try to skim profits in a seemingly reasonable way that really structures you to benefit from the volatility of that piece of shit, lock in profits as the doge coin prices goes up and still have some more to sell in the event it goes up even more.. which seems outrageous that it even got over a penny and now it is reaching 14x outrageous..
Anyone who holds onto an asset such as doge (referring to your partner) seems quite deluded and surely a kind of gamble based on ongoing pumpability that could end up drying up at any minute, especially when considering how much lackenings in fundamentals exist with that particular coin.
Regarding your selling ultimately into dollars and BTC, of course, BTC is the better longer term asset, but surely you are likely generating a decent quantity of dollar related bills too that are either somewhat connected to the business (probably the shed could be considered in such direction), and whether your electicity costs are going up, surely that is an ongoing expense in which it is good to have available dollars but surely to spend the dollars rather than the BTC with considerations of Gresham law principles, even if you might have options to pay in BTC.
By the way, any of us who might attempt to increase some of our spending of BTC would likely be considering that we might be spending and replacing or at least taking those BTC from excess BTC that we had acquired - which may well be part of Saylor's recent rationale to considerably increase his likely ongoing BTC expenditures by deciding to pay as certain number of non-employees in BTC (not sure if they have options regarding doing that partially or if it is just something that they have to receive 100% in BTC).. but anyhow, my point is that these kinds of paying in BTC can become way easier to do when there had already been decisions to convert so large of portions of cashflow into BTC.. so when I largely recommend 1% to 10%, and if Saylor/Microstrategy had many examples of way higher allocations into BTC (maybe in the 50% or higher arena), then they become way more justified in terms of their shaving off some of those BTC holdings or putting the BTC holdings to work in terms of satisfying their ongoing operating expenses.
And if I am wrong? Well I am wrong, and I still have all my Bitcoin.
