Should the Teamsters/UPS 401k plan allocate to Bitcoin ETF when approved?

[Over70irregs]

There can always be a software update (soft fork) that makes Bitcoin even more divisible . In other words , units smaller than Sats existing. Most miners and nodes would go along with this as this does not make any more bitcoin

Winner

 

[Over70irregs]

Man….dude…

 

[El Correcto]

All I see is over hyped “potential”, speculation and people’s desperate desire to be rich.

From my point of view the most useful bitcoin has ever been in reality is buying illicit crap on the internet and scamming people for their money with pump and dumps.

I want my mind changed on it, but everything I read about it seems cultish and pump and dumpish. I think the smart money is in scamming people that want to be rich with transaction fees or leaving them holding an empty bag after hyping up the pump.

 

[El Correcto]

View attachment 463182

This is the type of stuff that makes me turn away from bitcoin, do you actually think gold isn’t finite?
If humanity ever finds a way to profitably create more gold we will already be living in a utopia and I doubt money would matter much in a society with that technology.

 

[Over70irregs]

All I see is over hyped “potential”, speculation and people’s desperate desire to be rich.

From my point of view the most useful bitcoin has ever been in reality is buying illicit crap on the internet and scamming people for their money with pump and dumps.

I want my mind changed on it, but everything I read about it seems cultish and pump and dumpish. I think the smart money is in scamming people that want to be rich with transaction fees or leaving them holding an empty bag after hyping up the pump.

The mind does not need changing. All mutual funds WILL own the Bitcoin etf. Only ? Is how much more you WILL pay in future.

This is the type of stuff that makes me turn away from bitcoin, do you actually think gold isn’t finite?
If humanity ever finds a way to profitably create more gold we will already be living in a utopia and I doubt money would matter much in a society with that technology.

I don’t believe Gold is finite. The only thing stopping people from mining gold is the fact that the price is suppressed. Being turned off from bitcoin is the equivalent of an ostrich, sticking his head in the ground, the drums will keep beating. This will cause your head to come out the ground and see what’s going on. Then you will see that you are short.

Study

 

[Over70irregs]

This is a war gents. Duck cover hold.
Someone tell the pension boys to Get Moving….

 

[Over70irregs]

https://www.cnbc.com/2024/03/13/microstrategy-up-180percent-this-year-after-debt-sale-for-more-bitcoin.html

 

[El Correcto]

The mind does not need changing. All mutual funds WILL own the Bitcoin etf. Only ? Is how much more you WILL pay in future.

I’ll watch your video but just because financial institutions in this country see a get rich quick scheme and go for it doesn’t mean they are correct. I think they actually have a history of being incorrect in this country and that has led to some bad times.

You didn’t really answer any of my problems with bitcoin by saying financial institutions are gonna go all in on it, if anything that just increases my worry because that makes the bitcoin scam every bodies problem.

Scarcity does not equal valuable.

I also don’t like your video, it just seems to be current events type bitcoin news by people all in on crypto trading.

 

[El Correcto]

The mind does not need changing. All mutual funds WILL own the Bitcoin etf. Only ? Is how much more you WILL pay in future.

I don’t believe Gold is finite. The only thing stopping people from mining gold is the fact that the price is suppressed. Being turned off from bitcoin is the equivalent of an ostrich, sticking his head in the ground, the drums will keep beating. This will cause your head to come out the ground and see what’s going on. Then you will see that you are short.

Study

I promise you gold is very finite on this planet, there is a set amount of gold on earth unless a golden meteor strikes us or we discover like nuclear fusion levels of energy that could match a sun’s.

Either way you probably won’t be worried about bitcoin if either one of those happen.

“The U.S. Geological Survey estimatesthat of the world’s known gold, roughly 63,000 tons are still in the ground, compared with roughly 206,000 tons that have already been mined. And the world’s unmined gold is generally only unmined because it’s deeper underground and thus less accessible.”

The Gold Rush Returns to California

Demand for gold has risen in recent years. Not everyone is happy about that, especially some residents of Grass Valley.

undark.org

 

[El Correcto]

I don’t doubt bitcoin has value right now that would be stupid, but I doubt what the value is based on because I find it stupid.

 

[Over70irregs]

You said gold correct? No other asset class is coming for gold and your 401k at the same time. Lets learn together.

Bitcoin overtakes gold in investor portfolio allocation — JPMorgan

Bitcoin has now overtaken gold in investor portfolio allocation when adjusted for volatility, according to a JP Morgan analyst JPMorgan managing director Nikolaos Panigirtzoglou reportedly said that, when adjusting for volatility, Bitcoin BINANCE:BTCUSD allocation in investor portfolios is 3.7 time…

www.tradingview.com

 

[El Correcto]

You said gold correct? No other asset class is coming for gold and your 401k at the same time. Lets learn together.

Bitcoin overtakes gold in investor portfolio allocation — JPMorgan

Bitcoin has now overtaken gold in investor portfolio allocation when adjusted for volatility, according to a JP Morgan analyst JPMorgan managing director Nikolaos Panigirtzoglou reportedly said that, when adjusting for volatility, Bitcoin BINANCE:BTCUSD allocation in investor portfolios is 3.7 time…

www.tradingview.com

I’m not claiming that. I’m claiming gold is finite.
I’m not a gold investor, I’m not completely sure about everything I’m invested in through traditional financial routes like my 401k, but I’ve never bought gold as an investment.

 

[El Correcto]

My main concern about bitcoin isn’t gonna be a current events news about it.

I promise you I am happy for everyone that bitcoin has worked out for. I’m glad there are individual that saw this was going to rocket up and bought it, I just question what they saw and why they bought it.

I do not believe investing in bitcoin is based on a logical foundation. It appears to me to be much more emotionally investment of desperation and misinformation. People living in delusion that their bitcoin is actually useful for any real world application other than pulling in more investors on the idea of getting rich.

 

[Over70irregs]

I promise you gold is very finite on this planet, there is a set amount of gold on earth unless a golden meteor strikes us or we discover like nuclear fusion levels of energy that could match a sun’s.

Either way you probably won’t be worried about bitcoin if either one of those happen.

“The U.S. Geological Survey estimatesthat of the world’s known gold, roughly 63,000 tons are still in the ground, compared with roughly 206,000 tons that have already been mined. And the world’s unmined gold is generally only unmined because it’s deeper underground and thus less accessible.”

The Gold Rush Returns to California

Demand for gold has risen in recent years. Not everyone is happy about that, especially some residents of Grass Valley.

undark.org

Has anyone seen the effects of gold mining on the planet? They never show the results.

 

[El Correcto]

Has anyone seen the effects of gold mining on the planet? They never show the results.
View attachment 475313

I’m also not defending the ethics of mining for bitcoin or gold. I’m not even defending the value of gold as an investment vehicle over bitcoin, I think gold faces similar problems to bitcoin by inflated prices from perceived value.

I’m not a big believer in the value of gold at it’s current prices, I’m just saying it isn’t finite and it is wrong to try to separate bitcoin by gold by this perceived scarcity.

 

[El Correcto]

What I would like to discuss with a bitcoin investor is what its actual value is based on.
What do you see in bitcoin that I don’t other than the “pump” of others wanting to invest?

 

[El Correcto]

I’m sorry if it comes off as me attacking you as investing in something dumb.
I do believe bitcoin is dumb, but people that have made money off of it as of right now certainly are not dumb for doing so.

 

[Over70irregs]

I’m also not defending the ethics of mining for bitcoin or gold. I’m not even defending the value of gold as an investment vehicle over bitcoin, I think gold faces similar problems to bitcoin by inflated prices from perceived value.

I’m not a big believer in the value of gold at it’s current prices, I’m just saying it isn’t finite and it is wrong to try to separate bitcoin by gold by this perceived scarcity.

I believe gold. I know gold is suppressed. It should be higher. JP morgan paid nearly 1 Billion for market manipulation.

 

[El Correcto]

I’ve seen your thread from years ago when I believe you wanted to dump your 401k for bitcoin. Might be misremembering.

I’m just wondering what you saw in it that made you want to do that?

On just a pure returns value, it certainly was a great investment.

 

[Over70irregs]

I’m sorry if it comes off as me attacking you as investing in something dumb.
I do believe bitcoin is dumb, but people that have made money off of it as of right now certainly are not dumb for doing so.

Oh no I don’t care about that stuff. To deny with all the evidence is futile. We spend so much time whipping our bodies that I listen to podcasts learning while they pay me.