8700+ entries in 0.158s
mjr_: also...how can people retroactively go back and make their bets smaller because bitcoins are worth more now?
mjr_: so i am up in total by the combination of the two
mjr_: but that position is up...i got the bitcoins on average for 21.22 so that position is up
mjr_: yeah, if only i had gotten in then
mjr_: 0.0057 is what i got S.DICE for
mjr_: but still...these returns are great and that's before i have ever even received dividends
mjr_: i'm not saying there is NO correlation
mjr_: so my total gain when measured in dollars is a combo of the two effects
mjr_: i'm up 6 or 7% on S.DICE
mjr_: well, not for me at least
mjr_: yes, but you get forward contracts or options to guarantee and hedge
mjr_: i'm like OH that is why every single stock on NYSE moves the same direction at the same time
mjr_: "if the price of bitcoins doubles, the price of S.DICE halves"
mjr_: don't understand FX Risk
mjr_: i mean, so dumb though
mjr_: ugh, reddit is bumming me out
mjr__: is there a crossed quote on mpoe?
mjr__: honored to be cited...lol
mjr__: the key is to know the risk and the downside
mjr__: one of the things that i take away from all that i've experienced in bitcoins is that if you expect scams, you are safer than getting blindsided by "mortgage-back securities" or credit default swaps
mjr__: he was like that is the future, they really have their shit together
mjr__: it's funny though, my friend who i work with is so impressed with nomura because they use pgp
mjr__: going to grab a smoke brb
mjr__: let me take your btc and put it into dollars
mjr__: they were on twitter called btchedgefund or something
mjr__: a hedge fund wanted to raise btc so they could convert it out of btc and put it into the stock market
mjr__: but also, i think it is so funny that someone tried to do the idea in reverse
mjr__: gpg is also going to be huge
mjr__: i think something along those lines is coming
mjr__: so, whether it is a hedge fund or a public company or an etf
mjr__: that touches the world of bitcoins
mjr__: so that anyone can actually have a portfolio with publicly traded shares
mjr__: but i think the option should be there
mjr__: well, not if they just buy shares using investment account
mjr__: similar to gold ETF
mjr__: without having to actually get involved
mjr__: but i want to make it easier for them to get exposure to the bitcoin economy
mjr__: or at least have the option to
mjr__: i want to see everyone enjoy this new change
mjr__: but just put ourselves in positions of power
mjr__: i don't want to see us recreate the current system
mjr__: so that everyone, even old people who don't understand, can get exposure
mjr__: but i really want to offer it to the public
mjr__: that is a nice way to do it too
mjr__: but if you have a publicly traded stock
mjr__: just a tiny fraction of the money on wall street could quadruple the "market cap" of bitcoin
mjr__: and currently yielding great returns
mjr__: they have a hedge against the dollar
mjr__: its easy, you let people buy a bitcoin backed ETF with their etrade accounts
mjr__: if i had a few tens of mills it would be done already
mjr__: well...you get no return on that 50k
mjr__: getting it publicly available would cost like 50k, and that is just basically a setup fee
mjr__: if someone could start an ETF that tracks bitcoins, that would change everything, that is what i was trying to do, but it is hard
mjr__: so it is still an experiment, having money not backed by any asset
mjr__: and today i realized that our system is not tried and proven, it is very very new, we only adopted this in the US in 1971
mjr__: fiat currencies are failing hard
mjr__: egypt, argentina, venezuela etc.
mjr__: and at that point, we will see a ton of demand all at once
mjr__: soon, it will be financial companies
mjr__: but they do this on their own
mjr__: i know that a lot of people in this field are in finance
mjr__: at that point, there will be an influx of capital that has never been seen in bitcoin
mjr__: at some point, people on wall st will realize that instead of gold, bitcoins are a much better opportunity against the dollar
mjr__: i already convinced the CEO of my company and he is meeting with some Forex guys and is going to see if they could offer a product using bitcoins
mjr__: so now i am looking at a slower approach to start a hedge fund type deal
mjr__: so might be too hard
mjr__: but i would have to do a reverse merger for that and buy a public company
mjr__: my original plan was to get a public company with bitcoins as assets
mjr__: since they have washington in their pocket
mjr__: and second of all gain legitimacy as they are behind it
mjr__: you can first of all get a rally up to $100 if capital starts pouring in
mjr__: if you can bridge wall st and bitcoins
mjr__: because that will change everything