GBTC trades as a premium to BTC-USD.
Swollen Thumb said:Interested to hear thoughts on this as well. I'm not very familiar with the crypto world, exchanges, mobile wallets, etc, so not sure how involved and/or secure it all is to buy bitcoin outright and would prefer something I could trade within a normal investment account.aggies4life said:
What's the best way to get into/play Bitcoin?
We are familiar with MARA on this thread, and someone earlier mentioned GBTC...profile:
Grayscale Bitcoin Trust (BTC) is an exchange traded fund launched and managed by Grayscale Investments, LLC. The fund invests in Bitcoins. It invests through derivatives such as futures, swaps, and other CFTC-regulated derivatives that reference digital currencies. The fund seeks to track the performance of the TradeBlock XBX Index. Grayscale Bitcoin Trust (BTC) was formed on September 25, 2013 and is domiciled in United States.
This has my interest as a more direct investment vehicle than say MARA, but curious if there are any downsides to this approach vs buying bitcoin outright? Are there other similar ETFs that anyone is familiar with?
I literally do not know.aggies4life said:
What's the best way to get into/play Bitcoin?
Yup....two things on covered calls this time of year.FJ43 said:Just looked at MARA and running about $3.40 now. You can sell $5 covered calls for Jan at .90 and March at a 1.35. Why wouldn't you do that if you didn't even have Mara now. I wouldn't care if I got called out on them.oldarmy1 said:You know my MARA exposure is pretty big with a lot of covered calls involved too.FJ43 said:
Calling OA - Do you have a Bitcoin play for the clan here?
Really that's it.
10% in my rollover account. This was my best week EVER.$30,000 Millionaire said:
flat week for me, which I will consider a huge win based on Monday open. Could not overcome two max loss trades in ZM and MSFT.
aggies4life said:
What's the best way to get into/play Bitcoin?
Thanks OA. I have been thinking through this capital gains issue given the political climate and who will ultimately be in control. At present I feel safer taking capital gains now than chancing higher tax rates ahead. Decisions, decisions....oldarmy1 said:Yup....two things on covered calls this time of year.FJ43 said:Just looked at MARA and running about $3.40 now. You can sell $5 covered calls for Jan at .90 and March at a 1.35. Why wouldn't you do that if you didn't even have Mara now. I wouldn't care if I got called out on them.oldarmy1 said:You know my MARA exposure is pretty big with a lot of covered calls involved too.FJ43 said:
Calling OA - Do you have a Bitcoin play for the clan here?
Really that's it.
1) In two part: If you get called out using Dec calls you will have a capital gains to report. If you use a Jan forward then you push the tax for an entire year, so your capital can be used fully for a year.
2) Depending on what happens in Georgia runoffs capital gains on trading accounts could stay static or go back to Obama era, or worse. So you need to consider what profits you want to lock into 2020 for avoiding potential increases or roll the dice on the Jan 5th outcome. Also, even if you make the decision to sell some stocks in 2020, to avoid potential gain increases it might not even matter because should Georgia flip the Senate I can guarantee you not only capital gains but 2020 income taxes will be retroactively increased with the easy passage of the Administrations policies.
Not sure I would ever say being heavier in cash is irrational. A number on this thread are in that position right now. In the event Biden takes the helm there are far more unknows and uncertainties. The one known is taxation will go up.Philip J Fry said:
I have a very strong urge sell and be cash heavy for a while. Is this irrational? Biden managing the helm scares me.
FJ43 said:Not sure I would ever say being heavier in cash is irrational. A number on this thread are in that position right now. In the event Biden takes the helm there are far more unknows and uncertainties. The one known is taxation will go up.Philip J Fry said:
I have a very strong urge sell and be cash heavy for a while. Is this irrational? Biden managing the helm scares me.
Hedging in todays climate is always wise.
Both of him.$30,000 Millionaire said:
Congrats, that is fantastic. You are a good guy and bring a lot of value to this place. You deserve it.
I went heavier cash today. Just a gut feeling about the weekend.Philip J Fry said:
I have a very strong urge sell and be cash heavy for a while. Is this irrational? Biden managing the helm scares me.
Don't know how much you follow politics but I do extensively. There's an undercurrent of Republican boycott for the GA runoff. Trump supporters are feeling abandoned by this whole process and may not come out in the runoff, especially because establishment Republicans are begging for their support. This is a very real issue and will affect the markets. Just something to consider.Mostly Foggy Recollection said:FJ43 said:Not sure I would ever say being heavier in cash is irrational. A number on this thread are in that position right now. In the event Biden takes the helm there are far more unknows and uncertainties. The one known is taxation will go up.Philip J Fry said:
I have a very strong urge sell and be cash heavy for a while. Is this irrational? Biden managing the helm scares me.
Hedging in todays climate is always wise.
It won't with a Republican Senate. Pretty sure the tax cuts sunset in 2025.
Prognightmare said:Don't know how much you follow politics but I do extensively. There's an undercurrent of Republican boycott for the GA runoff. Trump supporters are feeling abandoned by this whole process and may not come out in the runoff, especially because establishment Republicans are begging for their support. This is a very real issue and will affect the markets. Just something to consider.Mostly Foggy Recollection said:FJ43 said:Not sure I would ever say being heavier in cash is irrational. A number on this thread are in that position right now. In the event Biden takes the helm there are far more unknows and uncertainties. The one known is taxation will go up.Philip J Fry said:
I have a very strong urge sell and be cash heavy for a while. Is this irrational? Biden managing the helm scares me.
Hedging in todays climate is always wise.
It won't with a Republican Senate. Pretty sure the tax cuts sunset in 2025.
Now that is funny because it's true.Mostly Foggy Recollection said:
For you Aggie football lovers, this is about the normal money line of an A&M-Bama game.
Prognightmare said:Don't know how much you follow politics but I do extensively. There's an undercurrent of Republican boycott for the GA runoff. Trump supporters are feeling abandoned by this whole process and may not come out in the runoff, especially because establishment Republicans are begging for their support. This is a very real issue and will affect the markets. Just something to consider.Mostly Foggy Recollection said:FJ43 said:Not sure I would ever say being heavier in cash is irrational. A number on this thread are in that position right now. In the event Biden takes the helm there are far more unknows and uncertainties. The one known is taxation will go up.Philip J Fry said:
I have a very strong urge sell and be cash heavy for a while. Is this irrational? Biden managing the helm scares me.
Hedging in todays climate is always wise.
It won't with a Republican Senate. Pretty sure the tax cuts sunset in 2025.
Philip J Fry said:
Why fight for a party that doesn't have a backbone?
Mostly Foggy Recollection said:McInnis 03 said:
Citi AND Cathie think this...........I'm listening now.
I've been following BTC And blockchain since 2014 when I got an inside look at IBM's blockchain initiative.
As the CIO of BlackRock said, "BTC is durable"... the question is does the hedge against paper currency go to metals or crypto.... and the answer is more and more are going to crypto and the larger funds are taking notice.
I've sold little pieces when I needed more cash for a short strike, but I've sold very little, and I plan to keep adding. Currently holding around $112K USD worth of BTC and I'd love to turn that into 7 figures over the next 24 months.
My post from 11/17 didn't receive any stars....Aston04 said:
Fomo penny stock of the day: Alpp (Alpine 4 Technologies). They made an acquisition into the drone business. Looks intriguing. I think we will have volatility here to swing trade.
I don't bet on politics- but I would pound the Democrat side with those odds. They just won the state at the top of the ticket. Now only focused on those two races- they could easily win one or both of those with their funding and media narrative advantage (Soros, Hollywood, Corporate America).Mostly Foggy Recollection said:Prognightmare said:Don't know how much you follow politics but I do extensively. There's an undercurrent of Republican boycott for the GA runoff. Trump supporters are feeling abandoned by this whole process and may not come out in the runoff, especially because establishment Republicans are begging for their support. This is a very real issue and will affect the markets. Just something to consider.Mostly Foggy Recollection said:FJ43 said:Not sure I would ever say being heavier in cash is irrational. A number on this thread are in that position right now. In the event Biden takes the helm there are far more unknows and uncertainties. The one known is taxation will go up.Philip J Fry said:
I have a very strong urge sell and be cash heavy for a while. Is this irrational? Biden managing the helm scares me.
Hedging in todays climate is always wise.
It won't with a Republican Senate. Pretty sure the tax cuts sunset in 2025.
I do follow, and the odds are heavily tilted to the Rs in this race.
Ds would need to make up a 600K vote delta in Georgia. In Texas that *might* be achievable, but not in GA.
If you aren't comfortable with it, you stand to make a good amount of coin placing a bet on the Ds.