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Discussion in 'Ask Jack' started by curtwht@yahoo.com, Dec 18, 2020.

  1. What would be a good place to start for bitcoin purchase? I know you have mentioned blockfi and gbtc, Coin base looks good to me any advice welcomed. Thanks
    Pablo likes this.
  2. Katief

    Katief Gold

    And advice for newbies to bitcoin based in Europe, too, please. Looking for a masterclass, or a helping hand.
    Pablo and Anne V like this.
  3. JanSz

    JanSz Gold

    @Jack Kruse
    said that to use:
    all money put in it
    get a home equity loan and buy it
    buy it until BTC=<$100000.00 US$

    upload_2020-12-21_9-25-22.png upload_2020-12-21_9-49-9.png
    Last edited: Dec 21, 2020
    Katief, John Schumacher and Pablo like this.
  4. JanSz

    JanSz Gold

    Grayscale® Digital Large Cap Fund Announces Management Fee Reduction (yahoo.com)

    New York, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Grayscale Investments, the world’s largest digital currency asset manager and manager of Grayscale® Digital Large Cap Fund (OTCQX: GDLC) (the Fund), today announced that the Fund will be reducing its management fee. Effective January 1, 2021, the manager’s fee will be lowered from 3.0% to 2.5%.

    Following a historic year for digital currencies, investors are seeking diversification not just into the asset class, but within it. In response to this growth in interest and demand, we’re taking action to deliver greater value to investors by reducing the management fee on one of our most popular products.

    The Fund enables investors to gain exposure to a market-cap weighted portfolio of large-cap digital currencies, including
    Bitcoin (BTC),
    Ethereum (ETH),
    XRP, Bitcoin Cash (BCH) and
    Litecoin (LTC),

    * through a singular investment vehicle without the challenges of buying, storing, and safekeeping digital currencies directly. Through a rules-based portfolio construction methodology, the Fund targets coverage of the upper 70% of the digital currency market and is re-evaluated each quarter; however, the weightings of each Fund Component change daily and are published around 4:00pm NY-time.** Investors can obtain real time visibility into the daily performance and composition of the Fund through the TradeBlock Grayscale Digital Large Cap Index (DLCX): https://tradeblock.com/markets/dlcx.
    Katief and John Schumacher like this.
  5. JanSz

    JanSz Gold

    @John Schumacher
    Today's or future questions:
    Have you got idea about when the other digital currencies will come to play.
    GBTC and other digital currencies from Grayscale are based/converted/dependent on USA $.
    (I think) BTC is independent of any world currencies (and that is the beauty about it).
    When would/should we move to BTC

    BTC are newer to be sold.
    When money is need for living expenses we should get a bank loan with BTC account as collateral.
    How to arrange that?
    How to talk to banker who is about to give me a loan?
    I do not want to have my whole multizillion $$ worth of BTC account be held accountable because I need measly $50000.00 to visit Jack in PDC for couple days (driving on my 60' Hatteras from Point Pleasant NJ).

    . upload_2020-12-22_10-42-58.png
    Last edited: Dec 22, 2020
  6. My understanding is ->
    • once you own Bitcoin (purchased through Gemini, Coinbase, Kraken, Swan Bitcoin)
    • you then move it to a company like Blockfi or Ledn.io
      • here you earn interest on the amount of Bitcoin deposits
      • from here you can make "purchases", take loans, etc.
    Still learning...
    Katief and JanSz like this.
  7. If you are from Europe you can buy at Kraken.com and store bitcoin in BlockFi. There are many possibilities, but for now it is best if you get started as quickly as F.
    Katief, Pablo and John Schumacher like this.
  8. caroline

    caroline Moderator

    I am having trouble with Jack's last Patreon blog .....anyone else?

    I basically get the metaphor with the monopoly board ....but I am getting lost in the detail.

    Anyone have any insights? I feel like I am losing my marbles trying to sort thru all this....

    Katief and Pablo like this.
  9. caroline

    caroline Moderator

    Katief and JanSz like this.
  10. JanSz

    JanSz Gold

    Whatever you figure out, please share.

    My 2c
    Remember that Jack said you should not sell or newer sell BTC (that applies to BTC or any other cryptocurrency).
    The money should be located in some tax-deferred account.
    In my case, I am in the USA; there is a caveat; I am over 70.5 years old.
    I must remove a portion of my IRA account out and pay taxes on that amount.
    The portion that is at the end of the 31 December, end of the year.
    It is a good practice to remove that amount then and there, at least from stocks, and keep it as cash until you eventually remove it from the account.
    On 2 January, that account may fall to zero or close to it.
    Uncle Sam wants you to take good care of HIS money (or go bankrupt).
    according to Mike
    that @Jack Kruse told me to read about here:
    there is nothing to stop BTC to go
    UP sky high
    to go down to ZERO.

    All it is about is making a bunch of people trust the word. Salesmanship. Prophecy. Leadership. etc., etc., etc.
    Nothing physical is being produced. Just a bunch of electrons. Waves.

    But waves are important.
    We are made of waves, as you know. We respond to waves.

    Eventually, Jack will figure out how we will spend all this money (for our living expenses).
    That will be done by taking bank loans.
    Banks are now giving away 3% loans.
    Overall this looks like a gamble (with good chances).
    I think it is a good idea to secure 5 years living expenses first,
    then go for crypto.
    Today at market open, GBTC was up +16.45%
    2 hrs later is 11.99%
    so someone gained 16.45%
    or someone lost 4.46%
    if you had a million, then it went to 1.1645*1000000=1164500

    Two people with one million each have a different opinion of what happened today within the first two hours.
    Two hundred thousand difference.
    You can buy half of the decent house for that (but not in CA or NJ).
    Last edited: Dec 28, 2020
    caroline and John Schumacher like this.

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