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Same ways that exist with other securities: buy and hold, I would presume?
by dvtrn 6y ago
Same ways that exist with other securities: buy and hold, I would presume?
- blueline 6y agoin order to actually make money, you'd still need a third step of "sell" (or you could spend the BTC directly, i guess)
- scottmsul 6y agoAs a bitcoiner myself, I like to think of dollars and BTC as just two currencies. Buying BTC is equivalent to selling dollars. If you think that BTC is the better money, it makes sense to move into it and stay there perpetually.
- Proven 6y agoIt's not. You must declare and pay tax on BTC "gains" even if you haven't gained anything counted in BTC.
- xur17 6y agoIsn't that the same as buy low, sell high?
- chrisseaton 6y agoBitcoin doesn't pay a dividend. How do you plan to make money while holding?
- trident1000 6y agoYou can actually lend your btc at a pretty good rate. Over 5% on BlockFi. Rates are lower on defi exchanges because there is a risk premium as people figure it out and actually borrow.
- ivanche 6y ago5% per year? 5% per month? 5% per week?
- trident1000 6y agoAnnual
- latchkey 6y agoCompounding too. You could also buy USDC (no fees through coinbase) and BlockFi pays 8.6% apy. Ally bank just emailed me that they are lowering the APY again. It is lowered almost monthly and is almost 0 now.
- christophilus 6y agoYou can also have BlockFI interest automatically go into BTC. So, you can DCA automatically by just letting your cash sit there.
- deleted 6y ago[deleted]
- vasilipupkin 6y agoright, but where does that interest come from? so SPY dividend comes from the stocks making money and earning cashflows. Bitcoin lending interest comes from people borrowing it to trade, a somewhat circular arrangement.
- trident1000 6y agoWho cares what people who borrow do with it. 5% or whatever is all I care about as an investor + getting my money back.
- vasilipupkin 6y ago