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RE: Stress analysis & comparison — Bitcoin Vs Gold

in Project HOPE • 4 years ago

Dear @kryptarion

One of those posts, which surely are worth checking out and reading through. Thanks for solid read.

Do you know why big investors are cautious and still about Bitcoin? A

I blame lack of clear regulations. Most investors wouldn't even know how to pay taxes from their crypto income. And that's a huge issue, discouraging greatly.

At the moment, no more than only 4% of hedge funds have bitcoin in their portfolios.

4% ? That's actually more than I expected :P I expected less than 1% hehe. So it's a nice surprisse.

ps. If Buffet said that he would never hold any crypto, then my assumption is that he already does hold a lot.

Upvoted already :)
Yours, Piotr

4 years ago in Project HOPE by
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     4 years ago (edited)

    Thanks for your contribution @crypto.piotr

    4% ? That's actually more than I expected :P I expected less than 1% hehe. So it's a nice surprisse.

    I think you might just be right about 1%. Considering that billionaires like Buffet are not showing any investment interest. I hear people repeatedly attributing lack of regulations to the reason why perhaps bitcoin is so volatile or why it has failed to attract real and genuine investment from hedge funds. I have always believed that implementing regulations and institutional guidelines only bring the bitcoin and cryptos generally under centralised bureaucracy — which seem to me like the fundamentals of the creation of blockchain technology and Cryptocurrency tokenomics.

    However I don't think it will be unfair to say that the existence of bitcoin whales only mirrors the bereucratic powers of centralised institutions.

    If Buffet said that he would never hold any crypto, then my assumption is that he already does hold a lot.

    Hehe maybe he already has. I was anticipating a more crypto-support words than his claim of not owning bitcoin.

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     4 years ago 

    Thank you for being always so responsive @kryptarion

    I hear people repeatedly attributing lack of regulations to the reason why perhaps bitcoin is so volatile or why it has failed to attract real and genuine investment from hedge funds. I have always believed that implementing regulations and institutional guidelines only bring the bitcoin and cryptos generally under centralised bureaucracy
    which seem to me like the fundamentals of the creation of blockchain technology and Cryptocurrency tokenomics.

    I'm one of those people.

    Fundamentals of blockchain tech and crypto tokenomics is one thing. Knowing that what you own is legal and knowing how to pay taxes from that income is crutial for many.

    I personally know someone, who earned quite a decent amount of money in 2017, sold part of his earning and bought himself a car. You won't believe what kind of trouble he got, since he couldn't prove where those money came from.

    Regulations (especially in tax department) need to be clear. Otherwise it will stop many investors from showing any interests with crypto.

    Not to mention, that decentralization is some sort of utopia. Utopia, which doesn't even make much sense to me.

    Yours, Piotr

    [-]
     4 years ago 

    Very nice reply @crypto.piotr

    Fundamentals of blockchain tech and crypto tokenomics is one thing. Knowing that what you own is legal and knowing how to pay taxes from that income is crutial for many

    Impressive Piotr! Unless I do not so much understand the blockchain cruise; the benefits, some of the clear ones which include; transparency (laudable), immutability (the haziest — considering how some tokens could actually be frozen) and innovative application to many use cases like DeFi among others. I feel blockchain and cryptos was a ride to evade centralisation.

    I personally know someone, who earned quite a decent amount of money in 2017, sold part of his earning and bought himself a car. You won't believe what kind of trouble he got, since he couldn't prove where those money came from.

    I doubt if conforming to regulations was included in Satoshi's bitcoin whitepaper — a rather ominous shortsightedness; considering tax is inevitable, and a possible way government could fight crypto-holders.

    Regulations (especially in tax department) need to be clear. Otherwise it will stop many investors from showing any interests with crypto.

    This is actually true.

    Not to mention, that decentralization is some sort of utopia. Utopia, which doesn't even make much sense to me.

    Hehe, I guess we are in same bus here Piotr.

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