What do you all think about GBTC? Cant make up my mind.

Up 600% since November. Should have bought then.

If I can't articulate to myself why I should buy something, I won't buy it.

White ,thanks I sometimes let greed get in the way.

Same here. It's hardwired, I think, in all humans

This market seems to value goods and services we want a lot higher than goods and services that we need.

It sure looks like digital currency is becoming a lot more widely accepted. If the supply is as limited as it appears, the price will increase exponentially.

If and only IF the government allows it to continue. I see that as the biggest hurdle. I also have to question the apparent disconnect from gold.

To me, I think I would rather invest in the real thing than a company that owns it. Then again according to my math, the bitcoin per share puts the stock price at 10x under the value of coin. 1 share = 495$ worth of Bitcoin. Not sure where to go with that

So does that mean that GBTC is set up to reflect 1/10 value of the coins ? Is it setup that way or just coincidence at this point in time ??

Obviously I don't follow this stuff. But I have to question why it is viewed as a hedge against inflation if it continues to climb as gold continues in a down trend.

I think on the gold thing has more to do with the spendability of it. Though there is now a bank in england I believe where you can buy gold on your account and you can spend it at any retailer.

OK I never considered that aspect of it. Thanks

It is hard to imagine that the government will allow it to proceed without massive regulatory intervention.

Yes. I think the money laundering possibilities are a big liability

The problem with that theory is that Bitcoin and other cryptos that use blockchain technology is that all transactions have paper trails that cannot be covered up or otherwise altered

At this point a US ban on Bitcoin would be about as effective as the "war" on marijuana was. It would cost trillions and needlessly kill or jail millions yet be readily available to anyone who wants to use it. Weed was very decentralized with millions of small growers/sellers/users throughout North America. If one big grower/seller/user got pinched 20 more would take their place. Its hard to win a war against an enemy that is decentralized.

As far a GBTC, it is a product that only makes sense for very few people. Fees are high, lockup period, etc. Soon the SEC will have no choice to allow actual Bitcoin ETF's which will crush demand for products like GBTC. There are far better ways to gain exposure to Bitcoin in traditional equities IMO

What exact aspects of Bitcoin are currently unregulated?

When I was asked about bitcoin when it was $600 I said it had no value and I wouldn't touch it. Then it went to $50,000. So, I am the wrong guy to ask about investing in cryptocurrency. But...I won't let that stop me.

A bit coin is a solution to a math problem. That's all it is. It's a solution to a really complicated math problem that has a limited number of solutions but it's only value is that people think it has value. Unlike all other stocks, crypto isn't a thing. If I buy stock in Pepsi, I'm buying a bit of a company that owns buildings, has an experienced marketing team, and makes something that they have a track record of selling at a profit. There is some justification to Pepsi stock being worth whatever it's worth. Lots of competing investors have put pencil to paper and tried to determine the most likely future value of a real bricks and mortar company and that determines the stock price.

With bit coin, there is absolutely nothing backing the value. It's nothing more than numbers on a computer. The value of bitcoin isn't derived from anything that actually has value.

The argument could be made that the US dollar only has value because people believe it does. But the US dollar (and other currency) has the backing of a big powerful government to give it legitimacy, or at least perceived legitimacy. Bitcoin doesn't have that.

I was so wrong before that My advice should probably be ignored but I think the day will come when the investors of bitcoin will suddenly realize they don't actually own anything and there will be a mass sell off ending with bitcoin values plummeting as fast as the computer algorithms can sell.

Yes generally. As long as each exchange is scrupulous about each transaction.
BUT, there are instances of obscuring the source of funds by buying one crypto with another crypto especially on an initial coin offering.

Cash is still probably a bigger problem overall

To be honest, I don't know. Will it eventually replace money? US currency is guaranteed by the US government. Who or what guarantees digital currencies? Ukrainian currency is backed by the Ukrainian government. It is virtually worthless outside Ukraine.