Tell me about crypto currency…. Please

[ford family]

I'm sure you know better than Blackrock and their 8 trillion AUM. Please check back on this thread in a year.

What percentage of their assets under management are in bitcoin?

ford family

 

[Powerline13]

What percentage of their assets under management are in bitcoin?

ford family

They don't disclose exactly how much they own or manage but they are the second largest shareholders in 4 of the top Bitcoin mining companies. Bitcoins market cap is currently around 670 billion so even a small percentage of their AUM can move the needle significantly which having an ETF would facilitate. You also need to consider that once an institution like Blackrock is involved in Bitcoin, other institutions will follow as well as retail investors with an ETF making investing in Bitcoin with a 401k easy without having to actually learn about or how to use Bitcoin.

 

[ChrisFL]

Bitcoin is up over 4k in the past 24 hours. Interesting timing on your ill informed opinion though!

That's....missing the point

 

[Powerline13]

That's....missing the point

What exactly is the point then? I am sorry you don't understand or have the ability to learn this new technology but it is here to stay and major financial institutions recognize this. If you are too obtuse to profit from it, that sounds like a personal problem but all I have done is state facts and that seems to upset some people.

 

[ChrisFL]

What exactly is the point then? I am sorry you don't understand or have the ability to learn this new technology but it is here to stay and major financial institutions recognize this. If you are too obtuse to profit from it, that sounds like a personal problem but all I have done is state facts and that seems to upset some people.

You didn't actually refute any of the statements the previous poster made, all you said is basically that profits are happening so you're wrong.

Also, Bitcoin is only about 50-60% of the value it was a few years ago.

 

[Powerline13]

I'm not going to refute non sense. Usually when I don't know or understand something, I don't comment on it. You also didn't answer what your point was.

Bitcoin is down 50% from its all time high but its all time chart shows its cyclical nature with the way its distribution works. It is the best investment of the past 10 years.

 

[Lord Manhammer]

What exactly is the point then? I am sorry you don't understand or have the ability to learn this new technology but it is here to stay and major financial institutions recognize this. If you are too obtuse to profit from it, that sounds like a personal problem but all I have done is state facts and that seems to upset some people.

Kind of rude, man.

 

[Powerline13]

Kind of rude, man.

I think it is rude for people to put down an entire industry with jaded ignorant comments.

 

[Starport Seven-Five]

What exactly is the point then? I am sorry you don't understand or have the ability to learn this new technology but it is here to stay and major financial institutions recognize this. If you are too obtuse to profit from it, that sounds like a personal problem but all I have done is state facts and that seems to upset some people.

Major financial institutions create products for customers. The Blackrock ETF existing shows there is a market for it, not that they have any confidence in the products held within. They'll happily invest your money in whatever trash stocks, commodities, or currencies you want if you're willing to pay a 1% fee.

The only good I can see coming of the ETF is that people can get exposure to crypto without having to learn about wallets or trust shady third party websites.

 

[Powerline13]

Major financial institutions create products for customers. The Blackrock ETF existing shows there is a market for it, not that they have any confidence in the products held within. They'll happily invest your money in whatever trash stocks, commodities, or currencies you want if you're willing to pay a 1% fee.

The only good I can see coming of the ETF is that people can get exposure to crypto without having to learn about wallets or trust shady third party website

I guess you are just ignoring where I stated that Blackrock are major shareholders in 4 of the top Bitcoin mining companies or their partnership with Coinbase. You don't build the infrastructure for a "trash stock".

People have been able to get exposure to crypto from Coinbase for years....not a shady website but a publicly traded company on the NASDAQ with FDIC insurance on cash deposits.

 

[Kwami]

I guess you are just ignoring where I stated that Blackrock are major shareholders in 4 of the top Bitcoin mining companies or their partnership with Coinbase. You don't build the infrastructure for a "trash stock".

People have been able to get exposure to crypto from Coinbase for years....not a shady website but a publicly traded company on the NASDAQ with FDIC insurance on cash deposits.

Yeah, sure. Just ignore the insider trading, the lawsuits from the SEC, the freezing of currencies, and the unavailability of funds on demand. Other than that, Coinbase is totally legit.

Of course, Coinbase stock has lost 75% of its value in the last two years, they lost billions in revenue, income, and equity last year, and they just went through multiple rounds of layoffs due to reduced demand for crypto services.

But, don't worry. Cryptocurrencies will take off any day now. They're not at all a front for illegal activity and scams...

 

[Powerline13]

Yeah, sure. Just ignore the insider trading, the lawsuits from the SEC, the freezing of currencies, and the unavailability of funds on demand. Other than that, Coinbase is totally legit.

Of course, Coinbase stock has lost 75% of its value in the last two years, they lost billions in revenue, income, and equity last year, and they just went through multiple rounds of layoffs due to reduced demand for crypto services.

But, don't worry. Cryptocurrencies will take off any day now. They're not at all a front for illegal activity and scams...

Cryptocurrency has already taken off and is here to stay. Blackrock is partnered with Coinbase but I am sure you know better! Unavailability of funds on demand??? When you have to make stuff up to support your argument....not a good look. I can assure you funds have always been available for me.

Many stocks are down in the past two years, including Disney. As I have already stated, crypto is cyclical. You sound very bitter for whatever reason.

 

[Kwami]

Cryptocurrency has already taken off and is here to stay. Blackrock is partnered with Coinbase but I am sure you know better! Unavailability of funds on demand??? When you have to make stuff up to support your argument....not a good look. I can assure you funds have always been available for me.

Yeah, I totally made it up.

https://web.archive.org/web/2018030...omer-complaints-more-than-doubled-in-january/

"Grievances are stacking up: The number of complaints about Coinbase, one of the biggest exchanges for trading digital assets, jumped more than 100% in January, to 889, according to Consumer Financial Protection Bureau data compiled by Quartz. More than 400 complaints were categorized as “money was not available when promised,” a fairly fundamental issue for any financial account."

That was from a few years ago, to be fair, but it's still not a good look.

Many stocks are down in the past two years, including Disney. As I have already stated, crypto is cyclical. You sound very bitter for whatever reason.

I'm not bitter. I just know that most cryptocurrency is used for money laundering and illicit purchases, that most coins are scams, and that every large "good, totally not shady" crypto exchange ends up being ridiculously shady. On top of that, the energy consumed in order to "mine" coins is ridiculous and is certainly bad for the environment. And then there was the two-year period where nobody could buy graphics cards because "miners" kept buying them all up to waste more energy and mine more stupid coins.

But the worst part is that people who are into crypto currency never shut up about it. It's the cross fit of tech. Ugh!

(I noticed that you ignored my comments about SEC lawsuits, insider trading, mass layoffs, and huge losses happening at Coinbase. Oh, well.)

 

[Cannot_Wait_4Disney]

Bitcoin is up over 4k in the past 24 hours. Interesting timing on your ill informed opinion though!

Sincerely, Non Fungible Tokens,

I'm sure you know better than Blackrock and their 8 trillion AUM. Please check back on this thread in a year.

Sincerely Lehman Brothers

I guess you are just ignoring where I stated that Blackrock are major shareholders in 4 of the top Bitcoin mining companies or their partnership with Coinbase. You don't build the infrastructure for a "trash stock".

People have been able to get exposure to crypto from Coinbase for years....not a shady website but a publicly traded company on the NASDAQ with FDIC insurance on cash deposits.

Coinbase is down 78% in 5 years and is not FDIC insured. They have been busted for operating as an unregistered securities exchange broker,

Cryptocurrency has already taken off and is here to stay. Blackrock is partnered with Coinbase but I am sure you know better! Unavailability of funds on demand??? When you have to make stuff up to support your argument....not a good look. I can assure you funds have always been available for me.

Many stocks are down in the past two years, including Disney. As I have already stated, crypto is cyclical. You sound very bitter for whatever reason.

Coinbase is down over double the percentage Disney is over the past 5 years. Meanwhile, the Nasdaq is up 71% over the last 5 years.

 

[Powerline13]

Sincerely, Non Fungible Tokens,


Sincerely Lehman Brothers


Coinbase is down 78% in 5 years and is not FDIC insured. They have been busted for operating as an unregistered securities exchange broker,


Coinbase is down over double the percentage Disney is over the past 5 years. Meanwhile, the Nasdaq is up 71% over the last 5 years.

OK now do Bitcoin over the last 5 years or even better how bout 10 year?

Coinbase has only been publically traded for 2 and 1/2 years, launched at a high IPO at a crypto cycle top. Very confused why you keep trying to compare it on the 5 year?? Cash deposits are held in FDIC insured bank accounts by Coinbase.

I don't understand how they could be "busted" when they are still in operation and still publicly traded on the NASDAQ. Once again, I don't think you really understand what you are talking about, XRP (they are actually winning their case against the SEC) was claimed to be an unregistered security and Coinbase removed it. You are very bitter about crypto for whatever unhinged reason.

 

[Powerline13]

Yeah, I totally made it up.

https://web.archive.org/web/2018030...omer-complaints-more-than-doubled-in-january/

"Grievances are stacking up: The number of complaints about Coinbase, one of the biggest exchanges for trading digital assets, jumped more than 100% in January, to 889, according to Consumer Financial Protection Bureau data compiled by Quartz. More than 400 complaints were categorized as “money was not available when promised,” a fairly fundamental issue for any financial account."

That was from a few years ago, to be fair, but it's still not a good look.



I'm not bitter. I just know that most cryptocurrency is used for money laundering and illicit purchases, that most coins are scams, and that every large "good, totally not shady" crypto exchange ends up being ridiculously shady. On top of that, the energy consumed in order to "mine" coins is ridiculous and is certainly bad for the environment. And then there was the two-year period where nobody could buy graphics cards because "miners" kept buying them all up to waste more energy and mine more stupid coins.

But the worst part is that people who are into crypto currency never shut up about it. It's the cross fit of tech. Ugh!

(I noticed that you ignored my comments about SEC lawsuits, insider trading, mass layoffs, and huge losses happening at Coinbase. Oh, well.)

Ouch this reads like a reddit thread from 2018 especially with the web archive for a source with 400 complaints for a 17 billion dollar company, its laughable. All these strawmen have been debunked and are tiring at this point. SEC lawsuits that coinbase won. Yes, companies lay people off when things turn down. "Huge losses" ?? OK lol

The worst part is when people comment on things they simply don't understand and disparage an entire industry where people innovate and work on a new technology.

 

[_19disnA]

Hype can drive up the price of just about anything in the short-term. Beanie Babies or tulip bulbs are good examples of that. No reputable investment professional can predict the future of any investment by graphing the past, hence the phrase .........."past performance is no guarantee of future returns........."

 

[Powerline13]

Hype can drive up the price of just about anything in the short-term. Beanie Babies or tulip bulbs are good examples of that. No reputable investment professional can predict the future of any investment by graphing the past, hence the phrase .........."past performance is no guarantee of future returns.........

You can look at events on the horizon that will benefit the industry and make an educated guess. Key word - educated.
Mining reward will be halved in Spring of 24 reducing newly mined Bitcoins by half per block. Blackrock even filing for an ETF and partnering with Coinbase adds legitimacy to the industry and if the ETF is approved by the SEC that will be another huge catalyst.

 

[Cannot_Wait_4Disney]

OK now do Bitcoin over the last 5 years or even better how bout 10 year?

Coinbase has only been publically traded for 2 and 1/2 years, launched at a high IPO at a crypto cycle top. Very confused why you keep trying to compare it on the 5 year?? Cash deposits are held in FDIC insured bank accounts by Coinbase.

I don't understand how they could be "busted" when they are still in operation and still publicly traded on the NASDAQ. Once again, I don't think you really understand what you are talking about, XRP (they are actually winning their case against the SEC) was claimed to be an unregistered security and Coinbase removed it. You are very bitter about crypto for whatever unhinged reason.

I'm not the one that lost his shirt investing in this garbage. Therefore I'm neither unhinged or bitter. But I sure would be if I were one of the fools that was soon parted from his money. And you're the one that started talking about how great coinbase was. You flat out were wrong. It's been a lemon. You are the one that compared it to Disney. And that comparison clearly went against you. You claim others don't understand what they're talking about, yet you are refuted so easily. You're just slinging mud at the wall and hoping it sticks. Then when you're corrected instead of admitting you were wrong, you throw out more mud. I take it that you, having been owned on talking up the lemon that has been coinbase, you wish to move the goal posts back to bitcoin? Do you get a commission for pushing this garbage or did you lose your shirt and need to talk it up to recoup your losses?

 

[Powerline13]

I'm not the one that lost his shirt investing in this garbage. Therefore I'm neither unhinged or bitter. But I sure would be if I were one of the fools that was soon parted from his money. And you're the one that started talking about how great coinbase was. You flat out were wrong. It's been a lemon. You are the one that compared it to Disney. And that comparison clearly went against you. You claim others don't understand what they're talking about, yet you are refuted so easily. You're just slinging mud at the wall and hoping it sticks. Then when you're corrected instead of admitting you were wrong, you throw out more mud. I take it that you, having been owned on talking up the lemon that has been coinbase, you wish to move the goal posts back to bitcoin? Do you get a commission for pushing this garbage or did you lose your shirt and need to talk it up to recoup your losses?

Clearly bitter with your paragraph of rage and just a touch of projection. I never said anything about investing in Coinbase stock but it is a reputable company that does what it promises for its customers, which is why it was even brought up to begin with.

Historically the only people who lost on Bitcoin are those who tried to day trade it instead of holding and the people who bought in 2021-2022 after it had already ran but even they will be rewarded if they held.

Bitcoin is the best investment of the past decade and that is a fact.