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PaperclipPerfector  5d ago (text post)   2576 thread views

Small-Scale Question Sunday for August 17, 2025

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With all of the enthusiam of Ben Affleck, I figure that I should put some of my investment portfolio into Bitcoin. I expect that it'll move independently of or in opposition to the dollar. What is the boring approach do that, adjusting a boring set of current allocations across the usual boring large investment companies?

Do you have any desire to have access to/use the BTC, as in gain custody of them on a private key you control?

If not, an ETF is the straightforward choice.

If so, a coinbase account is easy, but there are numerous options.

Coinbase accounts are custodial accounts, which means they hold they keys and you just see the numbers on the website. You don't actually own any crypto, you just trust them to own it for you. Which may be ok for many people, but if that bothers you then you should get a real crypto wallet and hold your own keys. The danger here is that if you mess it up you could either lose the coins completely or get them stolen from you. Coinbase Wallet is one example of non-custodial wallet, though I am not sure how good it is (I personally prefer offline hardware wallets).

Worth noting that in contrast to normie banking, the main bitcoin marketplace regularly blows up/top guy absconds with the money (Mt gox, FTX) . Crypto makes it so much easier to be a thief and a scammer. Better prepare yourself mentally. Worse part is not even losing all your money without recourse, but the merciless sneering from cigar-chomping bankers.

That's exactly why I said "not your keys, not your coins". If you keep the keys, none of the blowups can hurt you, ever (well, if you keep away from shitcoins and NTFs, of course) - whatever happens, if you owned 1 BTC, you'll still own it as long as you have the key (and nobody else does). If you play speculative games (like, trade shitcoins, etc.) then well, it gambling, and you may lose all your money at any moment. So coming at it, decide if you're there to invest or to gamble. Both can be done, but the way they are done are very different.

My theory of crypto value is that most of the coin gets stolen every few years. The thieves, fearing being connected to the crime through the ledger, never dare to touch their ill-gotten gains. One day, as we all must, they die, rich in spirit, and their cursed coins follow them into the grave.

Destroying money is strongly deflationary. There‘s only like 6 bitcoin left in circulation, that‘s why they are getting bid so strongly.

My theory of crypto value is that most of the coin gets stolen every few years

It is lost and misplaced, not stolen, and it is not most, estimated number of lost BTC is about 10-20% of total supply

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