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>Bitcoin realistically isn't any more liquid than an ETF, you need to go through similar on/off ramps, and the tax considerations are also comparable. The on a

>Bitcoin realistically isn't any more liquid than an ETF, you need to go through similar on/off ramps, and the tax considerations are also comparable. The on and off ramps are heavily limited in ETFs. Bitcoin can be purchased/sold P2P without counterparty or exchange custody risk. Many ETFs regularly miss the inflation hurdle, all ETFs are not permissionless, and can go bankrupt. Also, have you ever tried selling an ETF at 2am on a Saturday? >A company can grow and pay dividend. Real estate has people working to pay for its rent. Currency debasement affects all asset classes, including stock and real estate. Real estate/company resale market isn't as liquid as bitcoin's and they are not immune from catastrophic failure, degradation over time, or agency related downside risks. Also, ever tried selling a $200M home/company on a Saturday at 2am? For comparison, anyone can liquidate $200M of Bitcoin in 10-20 minutes and top exchange order books are thick enough to absorb that volume with little price slippage. You are trying to separate the unique combination of properties bitcoin has and individually address them with an alternate asset. The real work you have to do is find an asset with all of the valuable properties mentioned, working in unison, that also wins the hardest money contest. Unfortunately, you can't and that's why bitcoin wins as a store of value, especially over a long time horizon. TLDR Every asset is a shitcoin compared to "Energy Money" aka Bitcoin. Price action and growing depth of market proves that.

incrudible 5y ago
> Bitcoin can be purchased/sold P2P without counterparty or exchange custody risk. By definition, you can't exchange Bitcoin for dollars without counterparty risk. Technically you can exchange it over-the-counter or with some guy in a shady alley, but few are willing to do this. > Real estate/company resale market isn't as liquid as bitcoin's and they are not immune from catastrophic failure, degradation over time, or agency related downside risks. Also, ever tried selling a $200M home/company on a Saturday at 2am? True, real estate isn't as liquid, but compared to stock, you can live in it and may have some tax advantages. You can have stocks and real estate, you don't really need Bitcoin in the picture. > You are trying to separate the unique combination of properties bitcoin has and individually address them with an alternate asset. The real work you have to do is find an asset with all of the valuable properties mentioned, working in unison, that also wins the hardest money contest. Unfortunately, you can't and that's why bitcoin wins as a store of value, especially over a long time horizon. I'm looking at it from an investment perspective, because you are arguing that all the billionaires are going to "ape in". Bitcoin may have all these properties and still be not interesting as a large allocation. The "hardest money contest" doesn't matter, because holding money is not the point of investment. > Price action and growing depth of market proves that. Price action doesn't prove anything. Bitcoin can still drop 10+% in a single day.

incrudible 5y ago

> Bitcoin can be purchased/sold P2P without counterparty or exchange custody risk. By definition, you can't exchange Bitcoin for dollars without counterparty risk. Technically you can exchange it over-the-counter or with some guy in a shady alley, but few are willing to do this. > Real estate/company resale market isn't as liquid as bitcoin's and they are not immune from catastrophic failure, degradation over time, or agency related downside risks. Also, ever tried selling a $200M home/company on a Saturday at 2am? True, real estate isn't as liquid, but compared to stock, you can live in it and may have some tax advantages. You can have stocks and real estate, you don't really need Bitcoin in the picture. > You are trying to separate the unique combination of properties bitcoin has and individually address them with an alternate asset. The real work you have to do is find an asset with all of the valuable properties mentioned, working in unison, that also wins the hardest money contest. Unfortunately, you can't and that's why bitcoin wins as a store of value, especially over a long time horizon. I'm looking at it from an investment perspective, because you are arguing that all the billionaires are going to "ape in". Bitcoin may have all these properties and still be not interesting as a large allocation. The "hardest money contest" doesn't matter, because holding money is not the point of investment. > Price action and growing depth of market proves that. Price action doesn't prove anything. Bitcoin can still drop 10+% in a single day.